ACCA AS Taxation (TX-UK)

Question 1

For the tax year 2025/26, what is the personal allowance for an individual with adjusted net income of £90,000?

Accepted Answer

£12,570

Answer

£0

Answer

£6,570

Answer

£15,000

Question 2

James sold a residential property in August 2025 that was not his main residence. By what date must he file a capital gains tax return and make a payment on account to HMRC?

Accepted Answer

Within 60 days of completion

Answer

31 January 2027

Answer

Within 30 days of completion

Answer

5 April 2026

Question 3

Which of the following is an allowable deduction when computing property income for a UK landlord?

Accepted Answer

Finance costs (given as a basic rate tax reduction)

Answer

Capital repayments on the mortgage

Answer

The cost of an extension to the property

Answer

Costs of initial property purchase

Question 4

An employee receives a company car with a list price of £30,000 and CO2 emissions of 120 g/km. The appropriate percentage for this emission level is 29%. What is the taxable car benefit for the tax year?

Accepted Answer

£8,700

Answer

£3,600

Answer

£9,000

Answer

£29,000

Question 5

For corporation tax purposes, what is the main rate of corporation tax for a company with augmented profits exceeding £250,000 for the financial year 2025?

Accepted Answer

25%

Answer

19%

Answer

20%

Answer

30%

Question 6

Sarah has chargeable gains of £45,000 and allowable capital losses brought forward of £10,000 in 2025/26. She has no other income. What is her taxable gain after the annual exempt amount (AEA)?

Accepted Answer

£31,700

Answer

£28,000

Answer

£32,000

Answer

£35,000