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| Vanessa Serve and Serene Volley Vanessa Serve and Serene Volley, aged 32 and 35 years respectively, are sisters. The following information is available for the tax year 2012–13: Vanessa Serve (1) Vanessa is self-employed as a tennis coach. Her tax adjusted trading profit for the year ended 30 June 2006 is £52,400. However, this figure is before taking account of capital allowances. (2) The only item of plant and machinery owned by Vanessa is her motor car. This originally cost £16,400, and at 1 July 2001 had a tax written down value of £10,400. During the year ended 30 June 2006 Vanessa drove a total of 20,000 miles, of which 6,000 were for private journeys. (3) Vanessa contributed £6,400 (gross) into a personal pension scheme during the tax year 2012-13. (4) In addition to her self-employed income, Vanessa received interest of £1,100 from an investment account at the National Savings & Investments Bank during the tax year 2012–13. This was the actual cash amount received. (5) Vanessa’s payments on account in respect of the tax year 2012–13 totalled £8,705. Serene Volley (1) Serene is employed as a sports journalist by Backhand plc, a newspaper publishing company. During the tax year 2012–13 she was paid a gross annual salary of £26,400. Income tax of £4,790 was deducted (2) Throughout the tax year 2012–13 Backhand plc provided Serene with a petrol powered motor car which has a list price of £16,400. The official CO2emission rate for the motor car is 192 grams per kilometre. The company did not provide Serene with any fuel for private journeys. (3) Serene contributed 5% of her gross salary of £26,400 into Backhand plc’s HM Revenue and Customs’registered occupational pension scheme. (4) In addition to her employment income, Serene received interest of £1,200 on the maturity of a savings certificate from the National Savings & Investments Bank during the tax year 2012–13. This was the actual cash amount received. (5) Serene did not make any payments on account in respect of the tax year 2012–13.Required: (i) Calculate the income tax payable by Vanessa and Serene respectively for the tax year 2012–13. |