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Charley receives property income of £35,000 which is his only source of income in the tax year 2019/20 His wife Mrs Charley has no income in 2019/20. Calculate the income tax liability for Charley for 2019/20 assuming any beneficial elections are made and recommend what course of action you would advise the couple to take to reduce this liability and compute the saving that would have been achieved from this action in 2019/20.
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2020corona wrote:Charley receives property income of £35,000 which is his only source of income in the tax year 2019/20 His wife Mrs Charley has no income in 2019/20. Calculate the income tax liability for Charley for 2019/20 assuming any beneficial elections are made and recommend what course of action you would advise the couple to take to reduce this liability and compute the saving that would have been achieved from this action in 2019/20.
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