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can you create an income tax liability with - Stephen is 47yrs old he works...

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Accounting

can you create an income tax liability with - Stephen is 47yrs old he works full-time as a senior manager in a waste company, Trash Ltd. Stephen will be based in their city centre offices. Stephen has an annual salary of 118,000, a company car; 2 litre Volvo with C02 emissions of 152g/km. He contributes 10% of his gross salary into his company defined contribution pension scheme. Stephens company pay 3 times his annual salary as in death service benefits. Stephen has a second property that he bought and has renovated. He is thinking of selling the property and using any profit from the sale to invest in stocks and shares. The propertys original cost was 104,500, fees to purchase the property were 2,500 and renovation costs total 40,000. Current market value of the property is 225,000. Pension contributions 18,000,Bank accounts 2,050/2 @ 1.5%, Building society deposits 8,500/2 @ 2.8%, Other qualifying loans 22,00048 x 458.33

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