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Najma, Prakashs wife, aged 68, received state pension of 9,500, private pension of 2,400 and gross interest from her bank of 6,000 during the year
Najma, Prakashs wife, aged 68, received state pension of 9,500, private pension of 2,400 and gross interest from her bank of 6,000 during the year ended 5 April 2021. There was no PAYE income tax deduction from her pension income.
- Calculate any income tax payable by Najma for the year ended 5 April 2021.
ii. How much tax could the couple save if Prakashs shares (which yielded dividend income of 6,000) has been transferred into joint names so that Prakash and Najma received 3,000 each?
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