Bilal and Sara, a married couple, have a daughter Aiza age 4. Bilal is a civil engineer
Question:
Bilal and Sara, a married couple, have a daughter Aiza age 4. Bilal is a civil engineer employed by DubTech Ltd and Sara runs a small business in Birmingham. Sara also owns a property let out unfurnished since April 2019.
Following information relates to the tax year 2019/20:
Sara:
Trading income (taxable) £14,500
Property income (taxable) 9,500
Dividends 2,400
Bank interest 1,000
During the tax year 2019/20, Sara received £8,000 child benefit for her daughter Aiza.
Bilal:
Salary (before deduction of PAYE tax) £57,500
PAYE tax deducted 11,000
Personal pension contribution (net) 3,200
Required:
Calculate the income tax payable by Sara and Bilal for the tax year 2019/20.
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson