Harry and Natalie have been trading in partnership for many years each receiving a salary of £12,000 pa and interest on initial capital injections at 99% pa. Harry originally contributed capital of £200,000, while Natalie contributed £500,000. The balance of any profits was shared in the ratio 2:5. They drew up their accounts on 31 December each year. Natalie decided to retire from the partnership on 30 September 2021, Katy joined the partnership on the same day, Katy introduced capital of £300,000, on which she is also entitled to receive interest at 99% pa, and receives an annual salary of £15,000. Harry continues to receive a salary as before, and he and Katy now split the balance of profits equally. In the year ended 31 December 2021, the partnership made a tax-adjusted profit of £246,600, Forecast tax-adjusted profits for the year ended 31 December 2022 are £289,000. Natalie has overlapped profits from a previous change of accounting date of £9,500 and overlapped profits from the commencement of £4,800. Natalie's husband William has a bank interest income of £10,000 and earned £600 as a local exam invigilator during 2021/22. Natalie has a pension income of £25,000 for 2021/22. 

Requirements 

(a) Calculate the allocation of the partnership's profits between Harry, Natalie, and Katy for both accounting periods. 

(b) Calculate the taxable trading profits for all three partners for all relevant tax years. Show the tax year in each case and the dates of the basis periods. State the amounts of any overlapped profits and the periods to which they relate. 

(c) Calculate Natalie's and William's income tax liabilities for 2021/22. Explain whether the couple can make any beneficial elections. (d) Calculate Natalie's national insurance contributions for 2021/22.