My Income & Savings for 2022/23 for Income tax computation

Employment Income & Benefits

Annual Salary 46,000 (employed for full year) with 6,686 PAYE deducted during the year. No bonus for 2022/23.

Company car Skoda Octavia available all tax year list price 28,500 (the company got a discount so only paid 26,000), registered on 6.4.21, petrol, CO2 emissions 128g/km. Fuel provided for both business and private mileage.

Free use of employer canteen on-site.

Free work mobile phone provided (for work calls only).

Use of employer equipment I borrowed some sports equipment from work for my son and a colleague mentioned this might be taxable, so I have included the details here: gym equipment borrowed for one month in January 2023. The equipment was worth 16,000 in total.

Private Medical Insurance worth 950 this cost my employer 350.

I also paid a subscription of 475 to my local sports club. My employer has not reimbursed me for this, but I have included it in case I can claim it for tax purposes as I often meet clients there.

Rental Income

Gross rent on Cherry Tree cottage 1,350 per month rented out to tenants from 1st August 2022 with rent payable on 6th of each month.

Rental expenses (I think all of these can be claimed but please advise):

Mortgage interest (paid in period 1st August 22 to 31st March 23) - 4,200

Water rates (paid in period 1st August 22 to 31st March 23) - 320

Redecorating 2,000 (repainting and wallpapering bedrooms)

Major renovations to roof of property before renting property out 8,200

Savings Income & Dividends

Bank Interest on savings accounts 2,600

Dividends from shares 3,500

ISA dividends from stock & shares 2,400

Charity payments

Annual donation to our local charity via Gift Aid 1,000

Provide income tax planning for this particular person. (10 marks)