Question
Miss Sharifa is working with Sindbad Plc in the UK. Her salary was 2800 per year. the tax year 2021/22 company provided Living accommodation worth
Miss Sharifa is working with Sindbad Plc in the UK. Her salary was 2800 per year. the tax year 2021/22 company provided Living accommodation worth 92000 on 6 October 2021. The annual rental value was 5000 per annum. She is provided with a new petrol car which had a list price of 11000 and accessories worth 4000 when it was first registered, although the employer only paid 12000 for the car after a dealer discount. The car has CO2 emissions of 138gm/km. Company provided an interest free loan of 40000 on 1st January 2021. She repaid 20000 of the loan on 1st July 2021. Other details of her income include trading income of 11615, bank interest 3500, Dividend income 2000 and qualifying interest paid (40 X 5marks = 20 marks) 1000. A PAYE of 330 was deducted. You are requested to calculate the net tax payable for 2021-2022.
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