ACCA TX ^UK Syllabus B. Income Tax And Nic Liabilities - Tax payable on savings and dividend income/Income tax computation/Income tax payable - Past Papers ^{7 / 9}

June 2014

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Question 4a i

Chi Needle was born on 27 August 1968. She commenced self-employment as an acupuncturist on 6 April 2013, and for the year ended 5 April 2014 her trading profit using the normal accruals basis was £52,400, calculated as follows:

	Note	£	£
Revenue	1		71,900
Expenses
Motor expenses	2	4,400
Other expenses	3	8,200
Capital allowances	4	6,900	(19,500)
Trading profit			52,400

Note 1 – Revenue
The revenue figure of £71,900 includes receivables of £1,600 which were owed as at 5 April 2014.

Required:
(a) Based on the trading profit of £52,400 for the year ended 5 April 2014:

(i) Calculate Chi Needle’s income tax liability for the tax year 2013–14. (2 marks)

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December 2012

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Question 1a other info Note 2

On 30 June 2011 Josie Jones, aged 42, ceased self-employment as a graphic designer. On 1 August 2011 she commenced employment with Typo plc as a creative director. The following information is available for the tax year 2011–12:

Other information
(2) During the tax year 2011–12 Josie received building society interest of £8,960 and dividends of £6,480. These were the actual cash amounts received.

Required:
What amount of interest and dividend will be subject to income Tax?

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