4. (Tax) MCQ Time
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4. (Tax) MCQ Time
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About this listen
A business made a total turnover of £450,000 in the 2023/24 accounting period, with deductible expenditure of £115,000 and total capital allowances of £12,000. The total capital gains, after all applicable deductions, was £100,000. The business has a £26,000 trading loss to carry forward from last year. There were no other losses in the accounting period.
What is the business’s total taxable profit for the 2023/4 accounting period?
A. £397,000
B. £423,000
C. £75,430
D. £409,000
E. £197,000
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In the spirit of reconciliation, Audible acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today.