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Open Tuition notes practice question 10 (John)..

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Open Tuition notes practice question 10 (John)..

  • This topic has 2 replies, 2 voices, and was last updated 7 years ago by Avatarmanan66.
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  • April 21, 2019 at 8:36 am #513643
    Avatarmanan66
    Member
    • Topics: 20
    • Replies: 31
    • ☆☆

    Hello Sir,

    I am confused as to why is the rent income of 9500 deducted?

    Thanks

    April 25, 2019 at 10:36 am #514072
    AvatarTax Tutor
    Member
    • Topics: 2
    • Replies: 3960
    • ☆☆☆☆☆

    We are computing the adjusted TRADING profit – therefore any income that is NOT trading must be removed from the net profit as per the accounts. The property income would be assessed in its own right for separate inclusion within the income tax computation of the taxpayer

    April 26, 2019 at 12:18 pm #514214
    Avatarmanan66
    Member
    • Topics: 20
    • Replies: 31
    • ☆☆

    Thank you for your reply.

    I missed out on the trading word in the question.

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