ACCA Taxation (TX-UK) Tax Adjusted Trading Profit Individuals part 2
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Practice question 10 in the notes has incomplete information on irrecoverable debts. There is a write off of 200 mentioned in the solution for non-trading loan but in the question no details are given.
Also in sundry expenses the solution mentions a donation to local charity but there is no mention of it in the question.
Could you please correct those.
Please advise where I can find the practice questions.
Thanking you
sir i can barely hear you.
In the solution there is a point of purchase of new shop of 1200 pounds which is not given in the question and the personal use of the goods of 460 by the owner should be accounted at the market price right? so why in the lecture it is adding back the difference between the market price and the original cost?
ya you are right,i too have the same doubt
Hi there
I liked the line in which you said: “If, of course, you are paying your spouse below than normal commercial rate, you haven’t got any problem with HMRC. You have got a huge problem with your spouse there.” …So funny!
These lectures are so useful and funny at the same time! I love them!
Thank you a lot sir for doing this!
I wish every teacher could explain his/her subject like you!
Kindly explain the personal tax work £250. Thanks
what is the amount that should be added back to the net profit regarding owner private use of car ?
Hello,
why is added back only 190 pounds if the products weren’t accounted? Should not add back the market value – 650 pounds? This is what I also see in the solution of the exercise, from the notes.
Thank you