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Calculate Khairah's Taxable employment Income for 2020/21.

Calculate Khairah's Taxable employment Income for 2020/21.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Time left 0:43:40 Khairah works for Zoom Ltd and as provided you with the following information regarding her income and outgoings for the tax year 2020/21. Income a. A gross salary of £99,000 b. A bonus as follows: Date of Payment 15 March 2020 15 August 2020 30 May 2021 Date of Entitlement Amount £ 1 March 2020 15 lulv 2020 15 March 2021 19,200 25,200 13,700 C. Khairah was provided with accommodation by his employer on 1 June 2018. The employer bought the house in 2018 for £135,000 and the rateable (annual) value of the property was £2,500. Khairah pays rent of £150 per month to her employer. Expenditure a A total Amount of £120 paid to a UK charity under a payroll deduction scheme, administered by Zoom Ltd. b. Professional subscriptions of £180 to an approved professional body relevant to Khairah's employment. C. She also paid an annual membership fee of £1,360 to a Social Club which she used to entertain the clients of Zoom Ltd. Calculate Khairah's Taxable employment Income for 2020/21.
Transcribed Image Text:Time left 0:43:40 Khairah works for Zoom Ltd and as provided you with the following information regarding her income and outgoings for the tax year 2020/21. Income a. A gross salary of £99,000 b. A bonus as follows: Date of Payment 15 March 2020 15 August 2020 30 May 2021 Date of Entitlement Amount £ 1 March 2020 15 lulv 2020 15 March 2021 19,200 25,200 13,700 C. Khairah was provided with accommodation by his employer on 1 June 2018. The employer bought the house in 2018 for £135,000 and the rateable (annual) value of the property was £2,500. Khairah pays rent of £150 per month to her employer. Expenditure a A total Amount of £120 paid to a UK charity under a payroll deduction scheme, administered by Zoom Ltd. b. Professional subscriptions of £180 to an approved professional body relevant to Khairah's employment. C. She also paid an annual membership fee of £1,360 to a Social Club which she used to entertain the clients of Zoom Ltd. Calculate Khairah's Taxable employment Income for 2020/21.
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