Old MathJax webview

UK TAX

Question 2: During the tax year 2020/21, Sona has Rental income of 50,000, Employment income of 120,000, Interest from Government Bond 12,000, Interest on National Savings Certificate 2,000. She borrowed a loan for the purchase of a computer system, she paid interest of 1,200, which is eligible to claim the deduction from total income (eligible interest). a) You are required to assess the taxable income of Sona and Compute the tax liability for the tax year 2020/21. b) As of now, Sona has not thought about giving a donation to charity and/or contributing to the personal pension scheme. She needs your advice regarding the donation and personal pension scheme, if she donates 6,000 to charity and 8,000 to Personal Pension Scheme