• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

June 2025 ACCA Exam Results

Comments & Instant poll >>

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for June 2025 exams.
Get your discount code >>

Partnerships

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Partnerships

  • This topic has 1 reply, 2 voices, and was last updated 3 years ago by Tax Tutor.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • January 11, 2022 at 9:17 pm #645699
    Varun.J.Thakkar
    Participant
    • Topics: 75
    • Replies: 112
    • ☆☆

    Nazim and Laura have been in partnership for many years, preparing accounts to 31 October
    each year and sharing profits equally.
    On 1 June 2020 Fabiola joined the partnership. The agreed profit sharing ratio was 2:2:1 to
    Nazim, Laura and Fabiola respectively.
    The adjusted trading profits for the accounting years ended 31 October 2020 and 2021 were
    £240,000 and £300,000 respectively.

    Dear tutor,
    What will be the assessable trading income for Fatima in the second tax year ie 2021-22?
    They have given £60000 (Basis of assessment- ye 31 october 2021).but i dont get it why
    Since 31 october 2020 doesnt fall in second tax year shouldnt the basis of assessment be 06/04/21 to 05/04/22

    I guess there’s some printing error..is it?
    Pls help
    Thanks

    January 14, 2022 at 4:08 pm #646059
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    .
    Have you worked through the relevant lectures and study notes that deal with this issue?
    I fear the errors are in what you have written above – not in whatever text you are using for your study!
    Firstly I presume that Fabiola / Fatima are the same person and secondly and most importantly it is not the year ended 31 October 2020 that is being assessed – it is the year ended 31 October 2021 which does end in the 2021/22 that is being assessed!

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

Donate
If you have benefited from our materials, please donate

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE 2025 Exams

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • kartierclass on AA Chapter 9 Questions
  • revathik on IASB Conceptual Framework – Introduction – ACCA Financial Reporting (FR)
  • Josfel on Relevant cash flows for DCF Taxation (example 4) – ACCA Financial Management (FM)
  • askar.turganbayev@gmail.com on AA Chapter 2 Questions
  • RashidMh on MA Chapter 1 Questions Accounting for Management

Copyright © 2025 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in