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ACCA Taxation (TX) 2024 past questions and answers

This 2024 ACCA Taxation (TX) set has 20 practice questions. Try these 5 free sample questions, tap a question to reveal the answer and explanation. Then practise the whole 2024 set with instant marking.

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Sample ACCA Taxation (TX) 2024 questions

1. Leo is paid £3,000 in one monthly pay period after 6 January 2024. For this question, employee Class 1 NIC is 10% on monthly earnings between the primary threshold of £1,048 and the upper earnings limit of £4,189, and 2% above the upper earnings limit. What is Leo's employee NIC for this pay period?
  1. £180.00
  2. £195.20
  3. £240.00
  4. £300.00

Answer: B. £195.20

All £3,000 is below the £4,189 upper earnings limit, so NIC is (£3,000 − £1,048) × 10% = £195.20. The 2% rate applies only to earnings above the upper earnings limit.

2. For 2023/24, an individual's personal allowance is £12,570 and is reduced by £1 for every £2 of adjusted net income above £100,000. Priya's adjusted net income is £110,000. What personal allowance is available to her?
  1. £12,570
  2. £2,570
  3. £7,570
  4. £5,000

Answer: C. £7,570

Priya is £10,000 above the taper threshold, so her allowance is reduced by £10,000 ÷ 2 = £5,000. The remaining allowance is £12,570 − £5,000 = £7,570.

3. Maya, an individual, sells a non-residential asset in 2023/24 for £36,000. Its acquisition cost was £14,000 and allowable acquisition and disposal costs total £2,000. She has no capital losses, has the full £6,000 annual exempt amount available, and has taxable non-savings income of £34,000 before the gain. For 2023/24, ordinary gains are taxed at 10% to the extent they fit in the remaining £37,700 basic-rate band and at 20% above it. What is the capital gains tax on this disposal?
  1. £2,430
  2. £1,400
  3. £2,800
  4. £1,030

Answer: A. £2,430

The gain is £36,000 − £14,000 − £2,000 = £20,000; after the £6,000 annual exempt amount, £14,000 is taxable. Maya has £3,700 of basic-rate band remaining, so tax is (£3,700 × 10%) + (£10,300 × 20%) = £2,430.

4. Jon owned a house for exactly 10 years and used it as his only or main residence for the first 8 years. The final 9 months of ownership qualify as deemed occupation under the 2023/24 private residence relief rules. He did not let the property and has no other qualifying absences. The gain before relief is £100,000. What gain remains chargeable after private residence relief?
  1. £20,000
  2. £8,750
  3. £10,000
  4. £12,500

Answer: D. £12,500

The exempt period is 8 years plus the final 9 months, or 8.75 years out of 10. Relief is £100,000 × 8.75/10 = £87,500, leaving £12,500 chargeable.

5. In 2023/24, Ellis makes a qualifying disposal of a business that meets all Business Asset Disposal Relief conditions. His gain is £80,000, he has no capital losses, and the full £6,000 annual exempt amount is available. His lifetime BADR limit is unused. The BADR rate is 10% and the lifetime limit is £1 million. How much capital gains tax is payable on the gain?
  1. £8,000
  2. £7,400
  3. £6,000
  4. £74,000

Answer: B. £7,400

After the £6,000 annual exempt amount, the chargeable gain is £74,000. Applying the 10% BADR rate gives tax of £7,400; the gain is within the unused £1 million lifetime limit.

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