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On 31 December 2009 Joe Jones resigned as an employee of Firstly plc, and on 1 January 2010 commenced
employment with Secondly plc. Joe was employed by both companies as a financial analyst. The following
information is available for the tax year 2009–10:
Employment with Firstly plc
(1) From 6 April 2009 to 31 December 2009 Joe was paid a salary of £11,400 per month. In addition to his salary,
Joe was paid a bonus of £12,000 on 12 May 2009. He had become entitled to this bonus on 22 March 2009.
(2) Joe contributed 6% of his monthly gross salary of £11,400 into Firstly plc’s HM Revenue and Customs’
registered occupational pension scheme.
(3) On 1 May 2009 Firstly plc provided Joe with an interest free loan of £120,000 so that he could purchase a
holiday cottage. Joe repaid £50,000 of the loan on 31 July 2009, and repaid the balance of the loan of £70,000
when he ceased employment with Firstly plc on 31 December 2009.
(4) During the period from 6 April 2009 to 31 December 2009 Joe’s three-year-old daughter was provided with a
place at Firstly plc’s workplace nursery. The total cost to the company of providing this nursery place was
£11,400 (190 days at £60 per day).
(5) During the period 6 April 2009 to 31 December 2009 Firstly plc paid gym membership fees of £1,050 for Joe.
(6) Firstly plc provided Joe with a home entertainment system for his personal use costing £4,400 on 6 April 2009.
The company gave the home entertainment system to Joe for free, when he left the company on 31 December
2009, although its market value at that time was £3,860.
Employment with Secondly plc
(1) From 1 January 2010 to 5 April 2010 Joe was paid a salary of £15,200 per month.
(2) During the period 1 January 2010 to 5 April 2010 Joe contributed a total of £3,000 (gross) into a personal
pension scheme.
(3) From 1 January 2010 to 5 April 2010 Secondly plc provided Joe with living accommodation. The property has
an annual value of £10,400 and is rented by Secondly plc at a cost of £2,250 per month. On 1 January 2010
Secondly plc purchased furniture for the property at a cost of £16,320. The company pays for all of the running
costs relating to the property, and for the period 1 January 2010 to 5 April 2010 these amounted to £1,900.
(4) During the period 1 January 2010 to 5 April 2010 Secondly plc provided Joe with 13 weeks of childcare
vouchers costing £100 per week. Joe used the vouchers to provide childcare for his three-year-old daughter at
a registered nursery near to his workplace.
(5) During the period 1 January 2010 to 5 April 2010 Joe used Secondly plc’s company gym which is only open
to employees of the company. The cost to Secondly plc of providing this benefit to Joe was £340.
(6) During the period 1 January 2010 to 5 April 2010 Secondly plc provided Joe with a mobile telephone costing
£560. The company paid for all of Joe’s business and private telephone calls.
Required:
(a) Calculate Joe Jones’ taxable income for the tax year 2009–10.
On 31 December 2009 Joe Jones resigned as an employee of Firstly plc, and on 1 January 2010 commenced
employment with Secondly plc. Joe was employed by both companies as a financial analyst. The following
information is available for the tax year 2009–10:
Employment with Firstly plc
(1) From 6 April 2009 to 31 December 2009 Joe was paid a salary of £11,400 per month. In addition to his salary,
Joe was paid a bonus of £12,000 on 12 May 2009. He had become entitled to this bonus on 22 March 2009.
(2) Joe contributed 6% of his monthly gross salary of £11,400 into Firstly plc’s HM Revenue and Customs’
registered occupational pension scheme.
(3) On 1 May 2009 Firstly plc provided Joe with an interest free loan of £120,000 so that he could purchase a
holiday cottage. Joe repaid £50,000 of the loan on 31 July 2009, and repaid the balance of the loan of £70,000
when he ceased employment with Firstly plc on 31 December 2009.
(4) During the period from 6 April 2009 to 31 December 2009 Joe’s three-year-old daughter was provided with a
place at Firstly plc’s workplace nursery. The total cost to the company of providing this nursery place was
£11,400 (190 days at £60 per day).
(5) During the period 6 April 2009 to 31 December 2009 Firstly plc paid gym membership fees of £1,050 for Joe.
(6) Firstly plc provided Joe with a home entertainment system for his personal use costing £4,400 on 6 April 2009.
The company gave the home entertainment system to Joe for free, when he left the company on 31 December
2009, although its market value at that time was £3,860.
Employment with Secondly plc
(1) From 1 January 2010 to 5 April 2010 Joe was paid a salary of £15,200 per month.
(2) During the period 1 January 2010 to 5 April 2010 Joe contributed a total of £3,000 (gross) into a personal
pension scheme.
(3) From 1 January 2010 to 5 April 2010 Secondly plc provided Joe with living accommodation. The property has
an annual value of £10,400 and is rented by Secondly plc at a cost of £2,250 per month. On 1 January 2010
Secondly plc purchased furniture for the property at a cost of £16,320. The company pays for all of the running
costs relating to the property, and for the period 1 January 2010 to 5 April 2010 these amounted to £1,900.
(4) During the period 1 January 2010 to 5 April 2010 Secondly plc provided Joe with 13 weeks of childcare
vouchers costing £100 per week. Joe used the vouchers to provide childcare for his three-year-old daughter at
a registered nursery near to his workplace.
(5) During the period 1 January 2010 to 5 April 2010 Joe used Secondly plc’s company gym which is only open
to employees of the company. The cost to Secondly plc of providing this benefit to Joe was £340.
(6) During the period 1 January 2010 to 5 April 2010 Secondly plc provided Joe with a mobile telephone costing
£560. The company paid for all of Joe’s business and private telephone calls.
Required:
(a) Calculate Joe Jones’ taxable income for the tax year 2009–10.
