• 4. (Tax) MCQ Time

  • Mar 18 2024
  • Length: 18 mins
  • Podcast

4. (Tax) MCQ Time

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  • Summary

  • A business made a total turnover of £450,000 in the 2023/24 accounting period, with deductible expenditure of £115,000 and total capital allowances of £12,000. The total capital gains, after all applicable deductions, was £100,000. The business has a £26,000 trading loss to carry forward from last year. There were no other losses in the accounting period.


    What is the business’s total taxable profit for the 2023/4 accounting period?


    A. £397,000

    B. £423,000

    C. £75,430

    D. £409,000

    E. £197,000


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