Consider the following information as regards April 2020 to March 2021, i.e. the 2020/21 tax year. Gloria works as a freelance software developer with Ticki-Tacker Limited, a social media firm based in the city of London. She has two options for the purpose of personal income tax assessment. She may be added to the payroll of Ticki-Tacker Limited under the PAYE system or allowed to be treated as a self-employed individual. OPTION 1: Gloria under the PAYE system She will be placed on an annual salary of 50,000, and she would be required travel to work from Mondays to Fridays throughout the year via train, except for four weeks in a year when she will be on annual leave. The annual train ticket costs 2,400. OPTION 2: Gloria as a self-employed Gloria is allowed to invoice Ticki-Tacker Limited, an annual fee of 50,000. This work involves travelling to clients offices for a total of 5,200 miles annually in her own car. This is estimated to cost 39p/mile. Assume that Glorias annual accounts cover April 2020 to March 2021. REQUIRED: a. Calculate the relevant income tax and National Insurance Contribution liability under each of the two options identified. b. Calculate the disposable income (after all deductions) under the two options identified. c. Apart from (a) and (b) above, analyse any other factors that you think Gloria may take into consideration (from a taxation perspective) in arriving at the best option.