Sample
633 others answered this question

Question 4a

Amanda, Beatrice and Claude have been in partnership since 1 November 2008, preparing accounts to 31 October annually. Daniel joined as a partner on 1 May 2014. Profits have always been shared equally. The partnership’s recent tax-adjusted trading profits are as follows:
£
Year ended 31 October 2013 147,000
Year ended 31 October 2014 96,000
Year ended 31 October 2015 (forecast) 180,000

Required:
Calculate Daniel’s trading income assessment for the tax year 2014–15. (3 marks)