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MC Question 5
Tax rates
TX 2016 Tax Rates and Allowances
Lili Ltd commenced trading on 1 January 2015. The company incurred the following expenditure prior to 1 January 2015:
£ | ||
---|---|---|
30 November 2007 | Initial market research | 15,000 |
6 June 2010 | Research into competitors | 12,000 |
31 July 2014 | Entertaining potential customers and suppliers | 8,000 |
15 December 2014 | Donation to local school fair in exchange for advertising | 2,000 |
What is the amount of Lili Ltd’s deductible pre-trading expenditure in respect of the year ended 31 December 2015?
A £10,000
B £14,000
C £27,000
D £29,000