ACCA 2026 TX Taxation Income Tax Free Quiz 2

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ACCA 2026 TX Taxation Income Tax Free Quiz 2

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ACCA 2026 TX Taxation Income Tax Free Quiz 2

Practice ACCA 2026 TX Taxation MCQs from Income Tax. Get instant results with Explanation.

General10 MCQs

1. How is taxable income calculated?

A. Taxable income = Total income – Deductions – Personal allowanceB. Taxable income = Total income + Personal allowanceC. Taxable income = Total income – Deductions + Personal allowanceD. Taxable income = Total income × Personal allowance

2. What is the additional rate of income tax in England, Wales, and Northern Ireland?

A. The additional rate of income tax is 50%B. The additional rate applies to income above £100,000C. The additional rate is 40%D. The additional rate is 45% for 2023/24 on income above £125,140

3. What is the blind person's allowance for 2023/24?

A. The blind person's allowance is £5,000B. The blind person's allowance is £2,870 for 2023/24C. The blind person's allowance is £1,500D. The blind person's allowance is not available to pensioners

4. What is the PAYE system?

A. PAYE is a tax on company profitsB. PAYE is voluntary for employersC. PAYE is the system for deducting tax from employee wagesD. PAYE applies only to self-employed individuals

5. How is a self-employed individual taxed?

A. Self-employed individuals are taxed on profits, not gross receiptsB. Self-employed individuals are taxed on gross receiptsC. Self-employed individuals are not subject to National InsuranceD. Self-employed individuals do not need to file a tax return

General10 MCQs

6. What is rent-a-room relief?

A. Rent-a-room relief gives a £5,000 tax-free allowanceB. Rent-a-room relief is only available to landlords with multiple propertiesC. Rent-a-room relief applies to unfurnished roomsD. Rent-a-room relief provides a £7,500 tax-free allowance for furnished room rentals

7. In what order is income taxed for income tax purposes?

A. Tax on earned income is a flat rate of 20%B. The personal allowance is set against non-savings income first, then savings, then dividendsC. Savings income is taxed before non-savings incomeD. Dividends are taxed before savings income

8. What is the filing deadline for a UK self-assessment tax return?

A. The tax return deadline is 31 DecemberB. The tax return deadline is 31 MarchC. The tax return deadline is 31 January following the end of the tax yearD. The tax return deadline is 30 April

9. What type of tax is income tax?

A. Income tax is progressive (higher income taxed at higher rates)B. Income tax is regressiveC. Income tax is a flat rateD. Income tax is proportional to income

10. How are benefits in kind taxed?

A. Benefits in kind are not taxableB. Benefits in kind are taxed at a flat rate of 20%C. Benefits in kind are only taxable if the employer pays for themD. Benefits in kind are taxable as employment income and reported on form P11D

📋 ACCA - Test Online Practice Quizzes

ACCA

Conducting Body: Association of Chartered Certified Accountants

Frequency: Exam Frequency Year Round | Time: 360 Minutes

Negative Marking: No

⚡ Test Pattern (Total: 116 MCQs):

Business and Technology: 46 MCQs
Management Accounting: 35 MCQs
Financial Accounting: 35 MCQs
Corporate and Business Law: 45 MCQs

Merit Formula: -

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