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Q#13 from june 2015 exam

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Q#13 from june 2015 exam

  • This topic has 5 replies, 4 voices, and was last updated 7 years ago by opentuition_team.
Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • November 14, 2015 at 10:26 pm #282424
    Ema
    Member
    • Topics: 73
    • Replies: 107
    • ☆☆

    Hi sir, plz explain me the answer for this particular question.
    Q#13.Naomi is self-employed. For the year ended 5 April 2015 she made a trading loss of £110,000, having made a
    trading profit of £24,000 for the year ended 5 April 2014. Naomi also had employment income of £92,000 for the
    tax year 2013–14.
    What is the maximum loss relief claim which Naomi can make against her total income for the tax year 2013–14?
    A £74,000
    B £50,000
    C £110,000
    D £29,000

    November 15, 2015 at 9:17 am #282484
    lakshmana iyer krishnan
    Member
    • Topics: 14
    • Replies: 46
    • ☆☆

    First you can claim full amount of trading profit of 24,000. Loss relief against other income (other than trading profit) is restrcited to 25% of profit or 50,000. So the total relief 50+24 = 74,000.

    November 15, 2015 at 10:41 am #282510
    Ema
    Member
    • Topics: 73
    • Replies: 107
    • ☆☆

    Thank you Lakshmana… 🙂

    November 20, 2015 at 12:50 pm #284147
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Please do check answers to June 2015 exam on the OT site

    November 21, 2015 at 11:51 pm #284413
    Ema
    Member
    • Topics: 73
    • Replies: 107
    • ☆☆

    I am unable to see any link to past question paper or answers in OT. Can you please share the link to past papers.

    November 24, 2015 at 6:37 am #284827
    opentuition_team
    Keymaster
    • Topics: 1152
    • Replies: 1366
    • ☆☆☆☆☆

    https://opentuition.com/acca/f6/ here is the link – you can find answers on this page

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