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BPP Study text – question 65 and 66. Error in one of questions?

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › BPP Study text – question 65 and 66. Error in one of questions?

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by AvatarTax Tutor.
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  • November 21, 2018 at 11:04 pm #485445
    AvatarParviz
    Participant
    • Topics: 1
    • Replies: 1
    • ☆

    Dear Sirs/Madam,

    I’m in a stage of studying 10th chapter of BPP study text and I think that there is a mistake in one of 2 questions in practice questions and answer bank.

    65th question:
    Shelley has trading income and property business income in 2016/17 and in 2017/18 has trading loss.
    66th question:
    William has also trading income and property business income in 2016/17 and in 2017/18 has trading loss.
    in 65th question maximum tax relief is sum of trading income and property business income
    but in 66th question max. tax relief is trading income+ (trading income + Property business income)*25%.

    is there any mistake? or I don’t understand some parts of this questions and/or rules? please help… totally frustrated.
    Please mail me: p.aliyev@inbox.ru

    November 25, 2018 at 8:21 am #485875
    AvatarTax Tutor
    Member
    • Topics: 2
    • Replies: 3960
    • ☆☆☆☆☆

    I do not have the BPP study text to look at the detail of what you are referring to but it appears that it is the application of the cap to the loss reliefs applied against total income in the current and/or preceding tax year

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