Throughout 2023/24, Julia was supplied by her employer with a petrol-engined company car for both business and private use.  The car had a list price of £14,400 and an emission rating of 137g/km.  The cost of the fuel supplied for private motoring was £935. Julia reimburse her employer £427 towards the cost of the private fuel.  

What is Julia's taxable fuel benefit for 2023/24? 

Olive is self-employed, preparing her accounts to 5 April each year.  She claims capital allowances on a car used in her business.  The car has an emission rate of 65 g/km, with 40% of Olive's mileage for private purposes.

The car has a tax written down value of £12,000 at 6 April 2023.  Olive sold the car for £6,000 on 1 November 2023.

What amount of capital allowances can Olive claim in respect of the car for the tax year 2023/24?

Ewa earned an annual salary of £55,000 throughout the tax year 2023/24.  She used her own car for business travel, and she travelled 14,500 business miles during the tax year 2023/24.

What is Ewa's assessable employment income, assuming her employer paid her 43p per business mile?

Which TWO of the following assets bought by a sole trader will be allocated to the main pool for capital allowance purposes?

In 2023-24, Sarah makes a gift aid donation of £280. Her only income consists of business profits. 

What is her income tax liability for 2023-24 if her profits for the year are £93,255?

Which of the following types of expenditure is NOT treated as capital expenditure?

Martina is self-employed, and for the year ended 5 April 2024 her trading profit was £111,900.  During the tax year 2023/24, Martina made a gift aid donation of £800 (gross) to a national charity.

What amount of personal allowance will Martina be entitled to for the tax year 2023/24?

Mary has a cottage which she lets out furnished for an annual rent of £9,600, payable monthly in advance.

She incurred the following expenditure, which was paid for on the dates shown:

On 6 April 2023, Melinda rented out a furnished room in her house to Jenny at a rent of £750 a month.  Jenny continued to rent the room on the same terms until 5 July 2024.

Melinda continued to live in the house and paid for all of the living expenses, of which £475 a month related to the room rented out to Jenny.

What is Melinda's property income for the tax year 2023/24, assuming that any beneficial elections are made?

Woojin is provided with a loan by his employer, on which he pays interest at 1% per annum.  The loan was £100,000 when it was taken out on 6 April 2023 and he repaid £40,000 of the loan on 6 August 2023.

What is Woojin's beneficial loan benefit for the tax year 2023/24 assuming the average method of calculation is used?