4. (Tax) MCQ Time
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4. (Tax) MCQ Time
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A business made a total turnover of £450,000 in the 2023/24 accounting period, with deductible expenditure of £115,000 and total capital allowances of £12,000. The total capital gains, after all applicable deductions, was £100,000. The business has a £26,000 trading loss to carry forward from last year. There were no other losses in the accounting period.
What is the business’s total taxable profit for the 2023/4 accounting period?
A. £397,000
B. £423,000
C. £75,430
D. £409,000
E. £197,000
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