ExpertACCA TX — Taxation Practice Exam 1
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A complete 100-mark mock exam replicating the ACCA TX (Taxation) syllabus. This exam covers the UK tax system, Income Tax, Chargeable Gains, Inheritance Tax, Corporation Tax, and VAT. It features diverse, realistic scenarios including tech startups, agricultural estates, cross-border logistics, and bio-tech manufacturing, designed to test nuanced edge cases and alternative application methods.
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Section A: Objective Test
Marcus, a freelance graphic designer, submitted his electronic self-assessment tax return for the tax year 2023/24 on 14 August 2025. He paid his balancing payment of £4,200 on the same date. He had no reasonable excuse for the delay.
What is the total late filing penalty that Marcus will be charged by HMRC?
Section A: Objective Test
Which TWO of the following statements regarding the retention of records for tax purposes are correct?
Section A: Objective Test
Elena owns a cottage in Cornwall which she lets out as a Furnished Holiday Let (FHL). During the tax year 2023/24, the property was available for commercial letting to the public for 220 days. It was actually let to the public for 115 days. The longest single period of occupation by one tenant was 45 days.
Does the property qualify as an FHL for 2023/24, and what is the primary tax advantage regarding capital allowances?
Section A: Objective Test
On 6 April 2023, Zenith Ltd provided its marketing director, Tariq, with a new fully electric company car (0g/km CO2 emissions). The car has a list price of £45,000. Zenith Ltd also paid £800 to install a charging point at Tariq's home and provided £400 of electricity to charge the car.
What is Tariq's total taxable benefit in kind for the car and related expenses for the 2023/24 tax year?
Section A: Objective Test
Which of the following statements regarding National Insurance Contributions (NICs) is correct for the 2023/24 tax year?
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