Percy rents out a home fully furnished.  The house does not qualify as a furnished holiday letting.  For the tax year 2023/24 his rental expenses are:

Jada runs her own business, selling hand-made greetings cards.

Which of the following is NOT deductible in arriving at her tax adjusted trading profits?

On 1 January 2024, Kevin, a sole trader, is granted a 20-year lease on a property, paying a premium of £36,000.  How much of this premium is deductible when calculating his taxable trading profits for the year ended 31 March 2024?

When considering whether a working individual should be treated as employed or self-employed, which of the following is not regarded as evidence of employment?

An asset was loaned to an employee on 6 April 2021 when its market value was £12,000.  The asset was used by the employee for private purposes until 6 April 2023 when it was sold to the employee for £1,500.  Its market value on that date was £8,000.  

What is the benefit arising in 2023/24?

Kelly runs a small business which she started on 1 May 2023.  She prepared her first set of accounts for the nine month to 31 January 2024.  On 1 June 2023, she purchased a car for £12,500 which she uses 30% for business purposes.  The car has CO2 emissions of 49g/km.

What are the capital allowances available to her for the nine month period ended 31 January 2024.

Caroline was provided with a company car by her employer on 1 April 2023.  The diesel car, which does not meet the RDE2 standards, has a list price of £42,000 and CO2 emissions of 142g/km.  Caroline paid a capital contribution of £2,000 towards the car.  Caroline is not provided with fuel for private purposes.

What is the taxable benefit for Caroline for the tax year 2023/24 in respect of the car?

In the tax year 2023/24, Suzie earned employment income of £177,540, received bank interest of £16,875 and dividends of £16,500.

What is Suzie's income tax liability for the tax year 2023/24?

As from 1 October 2023, an employee is provided by his employer with the use of a house which has an annual value of £4,700.  The employer bought the house in 2019 at a cost of £255,000.  l

What is the taxable benefit in 2023/24 assuming that the official rate of interest on 6 April 2023 is 2.25% per annum

In the tax year 2023/24 Tamsin had the following sources of income:

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