Question 1. Jackson is a UK resident and in full-time employment. During the tax year 2020/21 he earned a salary of 58,000, received 8,300 from renting a spare bedroom in his main residence, received 3,000 in dividends and E750 in bank interest. Required: a) Calculate the income tax payable by Jackson for the year. b) State the latest date for him to submit his return. 5 marks Question 2 Hammad is a UK resident and employed full-time as a surveyor. During the month of February 2021 he sold four cars. Two of the cars belonged to his parents and were sold at their request as they felt they were too old to be able to drive safely. The third car had been owned by Hammad for three years. He had sold it as a trade-in against the purchase of a replacement however the replacement, a Honda Civic, gave Hammad back problems so he sold that and replaced it with a VW Golf Required: Using the badges of trade discuss the income tax and capital gains tax implications of the sale of these four cars in a short period of time. 5 marks Question 3. Adam began trading on 1 January 2019 and his monthly turnover is shown below: 2019 2020 Sales Sales January 2700 January 6900 February 2900 February 9250 March March 10600 April 2100 April 8150 May May June 14100 July July 14300 August August 14400 September September 13900 October October 14875 November 6100 November 15365 December 7700 December 15640 Required: a) State when Adam must notify HMRC that he has reached the registration threshold for VAT. 3 marks 2200 12000 Sune 2300 2900 3700 4200 4600 6700 b) State, with your reasons, two circumstances that would lead you to advise Adam should to voluntarily register for VAT. 2 marks