acca f6 interim assessment - answers

ACCA

Paper F6

Taxation2012

Interim Assessment – Answers

To gain maximum benefit, do not refer to these answers until you have completed the interim assessment questions and submitted them for marking.

PAPER F6 (UK) TAXATION

© Kaplan Financial Limited, 2012

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2 KAPLAN PUBLISHING

INTERIM ASSESSMENT ANSWERS

1 JOSEPH AND SEPHORA KENT

Key answer tips

Part (a) is a good test of the basics of business income tax with capital allowances and opening year rules. It is important to note that the opening period is 15 months long and the effect this has on the AIA and the writing down allowances in the capital allowances computations.

Part (b) tests some important areas of personal income tax, particularly the calculation of car and fuel benefits and the restriction of the PA for high incomes.

Note that question 1 in the exam often tests both the rules for the self employed and employees.

(a) Income tax assessable amounts

Tax year Basis of assessment £2011/12 Actual

(1.10.11 − 5.4.12) £19,060 (W1) 6/15 7,6242012/13 12 months ended 31.12.12 £19,060 (W1) 12/15 15,2482013/14 CYB: y/e 31.12.13 (W1) 80,4202014/15 CYB: y/e 31.12.14 (W1) 86,184Overlap profits (1.1.12 − 5.4.12): £19,060 3/15 = £3,812

Tutorial note:

When calculating the assessable amounts for a tax year, it is important to follow the correct sequence of workings.1 Adjust the profits for disallowable items for each accounting period – this step has

already been done for you. 2 Calculate the capital allowances for each accounting period. 3 Deduct the capital allowances for each accounting period from the appropriate

adjusted profit for each period. 4 Then allocate the ‘adjusted profits after capital allowances’ into each tax year using

the basis of assessment rules.

Workings

(W1) Net adjusted profits for each accounting periodAdjusted Capital

profit allowances (W2)£ £ £

15 months to 31.12.12 147,375 (128,315) 19,060Year ended 31.12.13 83,705 (3,285) 80,420Year ended 31.12.14 86,800 (616) 86,184

KAPLAN PUBLISHING


(W2) Capital allowances computationPool P.U P.U. Total

Car 1 Car 2 B.U. Allowances£ £ £ £ £

15 months to 31.12.12Additions (no AIA):Car 1: CO2 111 – 160 g/km 12,200Additions (with AIA):Trailer 2,500Plant and machinery 100,000Van 26,000

–––––––128,500

Less: AIA(Max) (Note) (125,000) 125,000

––––––– 3,500Less: WDA (20% × 15/12) (875) 875Less: WDA (20% × 15/12) (3,050) x 80% 2,440

––––– –––––TWDV c/f 2,625 9,150

–––––––Total allowances 128,315

–––––––y/e 31.12.13Addition (no AIA):Car 2: CO2 > 160 g/km 13,000Disposal – Car 1 (7,000)

–––––2,150

Balancing allowance (2,150) x 80% 1,720Less: WDA (20%) (525) 525Less: WDA (10%) (1,300) x 80% 1,040

––––– ––––– ––––––TWDV c/f 2,100 Nil 11,700

–––––Total allowances 3,285

–––––y/e 31.12.14Disposal proceeds (2,420)

–––––(320)

Balancing charge 320 (320)Less: WDA (20%) (1,170) x 80% 936

––––– ––––– ––––––TWDV c/f Nil Nil 10,530

––––– ––––– –––––– –––––Total allowances 616

–––––

4 KAPLAN PUBLISHING


Tutorial note:

1 Capital allowances on new car purchases are calculated based on the CO2 emissions of the car as follows:

CO2 emissions of < 111 g/km: eligible for a FYA of 100%.

CO2 emissions of between 111 – 160 g/km: put in main pool, eligible for a WDA at 20%.

CO2 emissions of > 160 g/km: put in the special rate pool, eligible for a WDA at 10%.

Private use cars are however given a pool of their own and the WDA must be calculated in full and deducted from the tax written down value, but only the business proportion is included in the total allowances for the period.

The appropriate rates of WDA above are given in the tax rates and allowances.

2 Purchases of plant and machinery qualify for the AIA and the balance is eligible for the WDA of 20%.

However, the maximum AIA is scaled up for the 15 month period to £125,000 (£100,000 x 15/12). Additions in excess of the maximum AIA are eligible for the WDA of 20%.

3 The WDAs must also be scaled up for the 15 month period.

(b) Sephora Kent

Income tax computation – 2011/12 £

Salary 93,000Car benefit (W1) 4,110Fuel benefit (W1) 3,948Beneficial loan (W2) 1,050

–––––––Total income (= Net income) 102,108Less: Adjusted PA (W3) (6,668)

–––––––Taxable income 95,440

–––––––Income tax

£35,494 20% Extended basic rate band (W4) 7,09959,946 40% 23,978––––––95,440–––––– ––––––

Income tax liability 31,077––––––

KAPLAN PUBLISHING 5


Tutorial note:

There is no need for a columnar layout to the income tax computation as Sephora’s only source of income is her employment income; she does not have any savings or dividend income.

Workings

(W1) Car and fuel benefit

CO2 emissions of 157 g/km, available all year%

Basic % for petrol car 15Plus: (155 – 125) 1/5 6

–––Appropriate percentage 21

–––

£Manufacturer’s list price 25,000Less: Capital contribution (see Note below) (4,000)

––––––21,000––––––

Car benefit (£21,000 21%) 4,410Less: Contribution towards provision of car (£25 12) (300)

––––––4,110

––––––Petrol benefit (£18,800 21%) 3,948

––––––

Tutorial note:

When working out the car benefit, the list price is reduced by any capital contribution, up to a maximum of £5,000.Contributions towards the running cost of the car are deducted from the car benefit.

(W2) Beneficial loan

Benefit (£60,000 (4.00% − 2.25%)) £1,050

6 KAPLAN

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Tutorial note:

When an employee is given a beneficial loan the benefit is the interest on the loan at the official rate (which is given in the tax rates and allowances) less interest actually paid.

(W3) Adjusted personal allowance£ £

Basic personal allowance 7,475

Net income 102,108Less: Gross Gift Aid (£395 × 100/80) (494)

––––––Adjusted net income 101,614Less : Income limit (100,000)

–––––––1,614

–––––––50% × £1,614 (807)

–––––Adjusted PA 6,668

–––––

Tutorial note:

The personal allowance is gradually reduced for individuals with income in excess of £100,000.

Where the taxpayer’s adjusted net income (ANI) exceeds £100,000, the PA is reduced by: 50% × (ANI – £100,000)The ANI is calculated as follows:

£Net income XLess: Gross Gift Aid donations (X)Less: Gross personal pension contributions (X)

–––Adjusted net income X

–––Where ANI exceeds £114,950 (£100,000 + (2 × £7,475)) there will be no PA available.

(W4) Extended basic rate band£

Basic rate band 35,000Plus: Gross Gift Aid donation (£395 x 100/80) 494

––––––Extended basic rate band 35,494

––––––

KAPLAN PUBLISHING 7


ACCA marking scheme

Marks(a) 2011/12 basis of assessment 1.0

2012/13 basis of assessment 1.02013/14 basis of assessment 0.52014/15 basis of assessment 0.5Overlap profits 1.0Capital allowancesAddition of car 0.5Addition of pool items 1.0

AIA 15/12 1.0

WDA 15/12 1.0Private use 1.0Disposal of car = balancing allowance 1.0Private use 0.5WDA for year ended 31.12.13 1.0Private use 0.5Sale of pool expenditure 0.5Balancing charge on pool 1.0WDA on car 1.0Private use 0.5Summary of adjusted profits after capital allowances 1.5

_____

16.0–––––

(b) Salary 0.5Car benefit: List price less capital contribution 1.0

21% 1.0Fuel benefit 1.0Beneficial loan 1.0Personal allowance 1.5Tax liability 1.0Extend basic rate band re Gift Aid 2.0

_____

9.0–––––

Total 25.0–––––

8 KAPLAN PUBLISHING


2 HUMPHREY

Key answer tips

A question requiring a full income tax computation with various sources of income.

Detailed knowledge of assessable benefits is important for the exam and this question includes all the common benefits.

Parts (b) and (c) have 6 marks for national insurance calculations. These are relatively easy marks to obtain so these sections should not be ignored.

(a) Income tax computation – 2011/12

Total Other Savings Dividendsincome

£ £ £ £Employment income (W1) 40,332 40,332Pension 6,000 6,000Trading income 13,000 13,000Treasury interest (gross) 500 500Bank interest (£720 100/80) 900 900Dividends (£54 100/90) 60 60

–––––– –––––– ––––– –––––Total income 60,792 59,332 1,400 60Less: PA (7,475) (7,475)

–––––– –––––– ––––– –––––Taxable income 53,317 51,857 1,400 60

–––––– –––––– ––––– –––––Income taxOther income – Basic rate 35,000 × 20% 7,000

– Higher rate 16,857 × 40% 6,743––––––51,857

Savings 1,400 × 40% 560Dividends 60 × 32.5% 19

––––––53,317–––––– ––––––

Income tax liability 14,322Less: Tax suffered at source

Dividends (10% £60) (6)Bank interest (20% £900) (180)PAYE (£5,305 + £1,200) (6,505)

––––––Income tax payable 7,631

––––––

KAPLAN PUBLISHING 9


Tutorial note:

1 Where there are several sources of income, it is advisable to use the columnar layout for income tax computations to ensure that you deduct the personal allowance from the correct source and calculate the tax on each source correctly.

2 Note that the question asks for income tax payable (not liability); so any tax already paid must be deducted from the tax liability figure.

Always check whether it is the tax liability or tax payable that is asked for in the question.

3 Treasury stock interest is received gross. Therefore, do not gross up the interest before inclusion in the taxable income computation and do not deduct any tax suffered at source in the income tax payable computation.

Workings

(W1) Employment income

£ £Salary 19,000Car benefit (W2) 5,800Fuel benefit (W2) 5,452

Use of assets (£400 20%) 80Accommodation benefit (W3) 8,000

Beneficial loan (£50,000 4%) 2,000Mobile phone Exempt

–––––– 21,332––––––

Employment income 40,332––––––

Tutorial note:

The use of tools is assessed at 20% of the market value of the assets when first made available.

The beneficial loan benefit is calculated at the official rate of interest on the loan outstanding during the year less any interest paid. As the loan is interest free and there were no repayments during the year, the benefit is just (£50,000 x 4%).

10 KAPLAN PUBLISHING


(W2) Car and fuel benefit

CO2 emissions of 182 g/km, available all year%

Basic % for diesel car 18

Plus: (180 – 125) 1/5 11––––––

Appropriate percentage 29––––––

Car benefit (£20,000 29%) £5,800––––––

Fuel benefit (£18,800 29%) £5,452––––––

No relief for partial contribution.

Tutorial note:

No relief is given for contributions towards the cost of fuel unless all private fuel is paid for by the employee.

(W3) Accommodation benefit

Basic charge £Higher of: (i) annual value £3,000

(ii) rent paid by employer Nil3,000

Expensive accommodation (£200,000 – £75,000) 4% 5,000––––––

Benefit 8,000––––––

(b) Class 1A NIC – 2011/12

£Employment benefits (as above) 21,332

––––––Class 1A NIC (£21,332 x 13.8%) 2,944

––––––

(c) National insurance – self employed income – 2011/12

£Class 2 NIC

(£2.50 52 weeks) 130Class 4 NIC

(£13,000 – £7,225) 9% 520––––

Total self employed NICs 650––––

KAPLAN PUBLISHING 11


ACCA marking schemeMarks

(a) Salary 0.5Trading income 1.0Pension from former employer 1.0Benefits:Company car list price % 1.029% working 1.0Fuel benefit 1.0No contribution 1.0Use of assets 1.0Accommodation benefit – annual value 1.0Accommodation benefit – additional charge 1.0Beneficial loan 1.0Mobile phone – exempt 1.0Treasury stock interest gross 1.0Grossing up bank interest 1.0Grossing up dividends 1.0Personal allowance 0.5Tax liability 2.0Tax deducted for PAYE 0.5Tax deducted for pension 0.5Tax paid on interest 0.5Tax paid on dividends 0.5

_____

19.0–––––

(b) Benefits – 0.5 mark each to a max of 2.0NIC charge at 13.8% 1.0

_____

3.0–––––

(c) Class 2 NIC 1.0Class 4 NIC on trading income 2.0

_____

3.0–––––

Total 25.0–––––

3 REGINALD

Key answer tips

This question asks for a calculation of property income and includes all the usual complications including treatment of repairs, a lease premium received, furnished lettings and treatment of losses.

Note that it is not necessary to calculate the profit or loss separately on each property as it is the total of rents less expenses that is assessable.

Sometimes however it may be easier to prepare a summary as shown in the tutorial note at the end.


Property business income – 2011/12

£Rental income:

House 1 Expired lease (£4,000 3/12) 1,000New lease (£5,000 3/12) 1,250

House 2 New lease (£4,000 6/12) 2,000House 3 Expired lease (£3,000 6/12) 1,500

New lease NilHouse 4 6,000

––––––11,750

Assessment on premium received – House 2 (W1) 1,760––––––13,510

Less: Allowable deductionsRepairs (£2,000 House 1 + £2,500 House 3) (4,500)Expenses (House 4) (7,000)Wear and tear allowance (W2) (520)

––––––Property business income assessment 1,490

––––––

Tutorial note:1House 1 – Re-decoration costs are allowed in full.

2House 2 – Roof repairs are not allowable as they are deemed to be capital in nature, making good a deficiency on purchase which was reflected in the purchase price.

3House 3 – Re-decoration costs are allowed as clearly incurred wholly and exclusively for the letting business.

4House 4 – The £2,000 loan interest allowable as an expense of the letting business.

5As the income and expenses of all properties are aggregated, any losses arising on the rental of a property are automatically offset against other property profits in the same year. If there is an overall property loss, the loss can only be carried forward and set against future property income.

Workings

(W1) House number 2 – assessment on premium received £

Premium received 2,000Less: 2% (7 − 1) £2,000 (240)

–––––Assessable premium 1,760

–––––



Tutorial note:

An alternative method of calculating the assessment on the premium received:

= £2,000 × (51 – 7) / 50 = £1,760

(W2) House number 4 – Wear and tear allowance

£ £Rents received 6,000Less: Water rates (200)

Council tax (600)–––––

5,200 10% 520––––– ––––

Tutorial note:

An alternative presentation of answer is shown below, however this is not the method used in the examiner’s examination answers.

House 1 House 2 House 3 House 4 Total£ £ £ £ £

Rent receivable 2,250 2,000 1,500 6,000 11,750Premium assessable − 1,760 − − 1,760Repairs (2,000) − (2,500) − (4,500)Expenses − − − (7,000) (7,000)W & T allowance − − − (520) (520)

––––– ––––– ––––– ––––– –––––250 3,760 (1,000) (1,520) 1,490

––––– ––––– ––––– ––––– –––––

The assessable amount for 2011/12 will be £1,490.


House 1 rental income 1.0Re-decoration 0.5House 2 rental income 1.0Lease premium 1.0Roof repairs 1.0House 3 rental income 1.0Re-decoration 1.0House 4 rental income 0.5Wear and tear allowance 1.0Loan interest 1.0Total amount assessable 1.0

_____

Total 10.0–––––

14 KAPLAN

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4 COWALSH LTD

Key answer tips This question requires a straightforward calculation of the corporation tax liability with calculations of capital allowances. However, be careful as the year end straddles 31 March 2011.

Tutorial note:

When calculating the corporation tax liability, it is important to follow the correct sequence of workings. 1 Calculate capital allowances for plant and machinery. 2 Deduct the capital allowances from the adjusted profit to give the trading profits

figure. 3 Calculate the assessable amounts for other sources of profits (e.g. interest income

and chargeable gains). 4 Deduct Gift Aid donations paid in the period to calculate the taxable total profits.

5 Calculate the FII and Augmented profits to determine the appropriate rate of tax to apply.

6 Calculate the corporation tax liability accordingly.

Corporation tax computation – y/e 31 January 2012 £

Trading profit 2,300,000Less: Capital allowances – P & M (W1) (146,250)

–––––––––Taxable trading profit 2,153,750Interest income (W2) 81,500Net chargeable gains (W3) Nil

–––––––––Total profits 2,235,250Less: Gift Aid (5,000)

–––––––––TTP 2,230,250

–––––––––Corporation tax liability (W4)FY2010 (£2,230,250 28% 2/12) 104,078FY2011 (£2,230,250 26% 10/12) 483,221

––––––––587,299

––––––––Capital losses carried forward to set against future chargeable gains:(£30,000 − £25,000) (W3) £5,000

––––––––

KAPLAN PUBLISHING


Workings

(W1) Capital allowances – plant and machineryGeneral Expensive Allowances

pool car(Note 1) £

£ £ £TWDV b/f 190,000 24,000Additions (No AIA):

Car (111–160 g/km) (Note 1) 18,000Additions (With AIA):

Plant and machinery 112,500From “Repairs” (Note 2) 8,750

–––––––121,250

Less: AIA (Maximum) (100,000) 100,000––––––– 21,250

Disposals (£5,000 + £8,000) (13,000)–––––––

216,250WDA (20% £216,250) (43,250) 43,250WDA (20%) but restricted (3,000) 3,000

––––––– –––––––TWDV c/f 173,000 21,000

––––––– ––––––– –––––––Total allowances 146,250

–––––––

Tutorial note:

1 There are no private use adjustments for a company

The car for the MD therefore does not have a separate column and goes into the general pool as the CO2 emissions are between 111 –160 g/km.

The expensive car for the sales director will be entitled to a WDA restricted to a maximum of £3,000; however there is no adjustment for private use.

2 Capital assets charged in the income statement are added back in the adjustment of profits computation. If they then qualify as plant and machinery for capital allowance purposes, they will be eligible for the allowances in the normal way.

(W2) Interest income£

Bank interest receivable 1,500Loan note interest receivable 80,000

––––––81,500––––––



(W3) Net chargeable gains£

Chargeable gains for year 25,000Less: Capital losses brought forward (25,000)

––––––Net chargeable gains assessable in year Nil

––––––

Tutorial note:

Capital losses can only be set against chargeable gains in the period and any excess capital losses are carried forward and set against future chargeable gains only.

(W4) Corporation tax liability

As TTP and therefore augmented profits are clearly over the £1,500,000 upper limit, the main rate of corporation tax will apply.

The dividend received from the overseas company is exempt from corporation tax, but would form part of FII as it is not from an associated company.

As the chargeable accounting period straddles 31 March 2011, the corporation tax liability must be calculated for each Financial Year separately.

Key answer tips

Make sure that you show the examiner that you have considered whether or not the 'augmented profits' exceed the £1.5 million limit, even where it obviously has.




Trading profit before CAs 0.5Plant and machinery CAs:

TWDV b/f 0.5Addition – car no AIA 0.5Additions qualifying for AIA – machine 0.5Additions – treatment of repairs 1.0AIA – maximum 1.0Disposals 1.0WDA – general pool 1.0WDA – expensive car 1.0WDA – no private use 1.0

Interest income1.0

Chargeable gain0.5

Correct use of capital loss1.0

Stating capital loss carried forward1.0

Gift Aid0.5Overseas dividend recognised as FII1.0Corporation tax liability2.0

_____

Total 15.0–––––

5 TONY NASH

Key answer tips

This question is wide ranging and includes an adjusted profit computation, capital allowances, an income tax computation and a few marks for administration issues. Adjusted profit computations are always popular in exams.

Note the requirement to include all items, even those which do not require adjustment which should be shown with a zero. These instructions must be followed in the exam, or else full marks cannot be obtained and easy marks will be lost.

18 KAPLAN

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(a) Tax adjusted trading profit – year ended 5 April 2012 £ £

Net profit 16,660Depreciation 2,244Motor expenses (£8,330 30%) (W2) 2,499Accountancy 0Financial planning advice 527Debt collection 0Fees for planning permission 2,210Replacement hard drive (Note 1) 0New printer (Note 1) 340Business travel 0Entertaining suppliers (Note 2) 408Entertaining employees 0Excessive salary (£13,600 – £10,200) (Note 3) 3,400Staff present 0Health club subscription 603Donation to political party 51Trade subscription 0Use of office (£3,468 1/6) 578Private telephone (£576 25%) 144Own consumption (Note 4) 808Capital allowances (W1) 3,526

_________ _________

29,750 4,248(4,248) _________

_________

Tax adjusted trading profit 25,502_________

Tutorial notes:

1 The replacement hard drive is allowable since the whole computer is not being replaced and the expenditure is therefore treated as revenue expenditure.

The new printer is not allowable in the adjustment of profits computation, being capital in nature. However, capital allowances are available on the cost of the printer.

2 The only exception to the non-deductibility of entertainment expenditure is when it is in respect of employees.

3 A salary to a family member must not be excessive. Since Tony’s wife is paid £3,400 more than the other sales assistants, this amount is not allowable.

4 Goods for own consumption are valued at selling price. As no entries have been made in the accounts, an adjustment must be made for the full selling price.

If the goods had been correctly removed from the accounts at cost, only the profit element would need to be adjusted for in the adjustment of profits computation.



Workings

(W1) Capital allowances computationPool Exp car B.U. Allowances

£ £ £ £TWDV b/f 6,290 13,770Additions with AIAPrinter (Note 1) 340Less: AIA (340) 340

–––– NilWDA (20%) (1,258) 1,258WDA (20%) (Note 2) (2,754) 70% 1,928

––––– –––––TWDV c/f 5,032 11,016

––––– ––––– –––––Total allowances 3,526

–––––

Tutorial notes:

1 The new printer is not allowable in the adjustment of profits computation, but is eligible for capital allowances as plant and machinery eligible for AIA.

2 The expensive car is eligible for the normal 20% WDA, subject to a maximum claim of £3,000. The maximum is not applicable in this question as the normal allowance falls below £3,000.

3 For sole traders, only the business use proportion of allowances is available on assets with an element of private use.

(W2) Private mileage

Total Private Businessmiles miles miles

Total mileage 17,000Holiday (2,125) 2,125

––––––Balance 14,875 2,975 11,900

–––––– –––––– ––––––5,100 11,900

–––––– ––––––% of total mileage(5,100/17,000); (11,900/17,000) 30% 70%

20 KAPLAN

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(b) Income tax computation – 2011/12 Total Other Savings Dividends

income£ £ £ £

Trading income (as (a) above) 25,502 25,502Dividends (£4,500 100/90) 5,000 5,000Government stock interest 3,000 3,000NS&I interest 2,900 2,900ISA interest Exempt

–––––– –––––– ––––– –––––Total income 36,402 25,502 5,900 5,000Less: PA (7,475) (7,475)

–––––– –––––– ––––– –––––Taxable income 28,927 18,027 5,900 5,000

–––––– –––––– ––––– –––––

Income tax:Other income 18,027 × 20% 3,605Savings 5,900 × 20% 1,180Dividends 5,000 × 10% 500

––––––28,927–––––– ––––––

Income tax liability 5,285Less: Tax suffered

Dividends (10% £5,000) (500)––––––

Income tax payable 4,785––––––

Tutorial note:

1 Government interest and National Savings interest is received gross. They therefore should not be grossed up and there is no tax suffered at source to deduct in the income tax liability computation.

2 Income from ISAs is exempt from income tax.

3 Note that full marks can be obtained in this part even if your answer to part (a) is incorrect, provided you bring forward the figure you calculated into this computation and deal with it correctly.

(c) Retention of business records

• The business records for 2011/12 must be retained until 31 January 2018, being five years after the filing date of 31 January 2013.

• As Tony is in business during 2011/12, he must retain the records relating to the investment income until the same date.

• A failure to retain records can result in a penalty of up to £3,000. However, the maximum penalty will only be charged in serious cases.



Tutorial notes:Note that self assessment is very important in the examination and the rules must be learnt!


(a) Depreciation 1.0Motor expenses re private use 1.0Accountancy 0.5Personal planning advice 0.5Debt collection 0.5Planning permission 0.5Replacement hard drive 0.5New printer 0.5Business travel 0.5Entertaining suppliers 0.5Entertaining employees 0.5Excessive salary to family member 1.0Staff present 0.5Club subscription 0.5Donation to political party 0.5Trade subscription 0.5Use of office 1.0Private telephone re business use 1.0Own consumption 1.0Capital allowancesWDA 20% 0.5Car WDA 20% plus private restriction 1.0Additions for AIA 1.0AIA at 100% 1.0

_____

16.0–––––

(b) Trading income 0.5Dividends – grossed up 1.0Government stock – not grossed up 1.0NS&I interest – not grossed up 1.0ISA interest – exempt 0.5Personal allowance 0.5Income tax – other income 0.5

− savings and dividend 0.5Tax suffered – dividends 0.5

_____

6.0–––––

(c) Business records – retention 1.0Other records – retention 1.0Consequence of non-retention 1.0

_____

3.0–––––

Total 25.0–––––

acca f6 interim assessment - answers

Documents

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opening period

kaplan group company

kaplan group companies

basis of assessment

opening year rules

interim assessment questions

basics of business income