Question
Q1. Mrs. Cornell is a senior executive with Berkeley plc. Her salary is 40,000 p.a. In the tax year 2019/20 her employers made the following
Q1. Mrs. Cornell is a senior executive with Berkeley plc. Her salary is 40,000 p.a. In the tax year 2019/20 her employers made the following benefits available to her: A Ford Motor car from 6 October 2019. Its list price is 20,000 and its CO2 emission 139 g/km. The company paid all running expenses including private petrol. She was provided with Driver services. Salary of Driver is paid by the company. Driver salary is per month .300. Also, the company provided Furniture costing 10,000 for the full year. She continued to have the use of a stereo system owned by the company which cost 2200 two years ago and which kept at her home. Calculate Taxable Income and Tax liability for the 2019-20 as per UK tax law.
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