ACCA 2026 TX Taxation Tax Allowances Free Quiz 1

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ACCA 2026 TX Taxation Tax Allowances Free Quiz 1

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ACCA 2026 TX Taxation Tax Allowances Free Quiz 1

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

General10 MCQs

1. What is the personal allowance for income tax?

A. The personal allowance is £15,000 for 2023/24B. The personal allowance is £12,570 for 2023/24C. The personal allowance is £10,000 for 2023/24D. The personal allowance is £20,000 for 2023/24

2. What is the Annual Investment Allowance (AIA)?

A. The AIA is £200,000 for 2023/24B. The AIA is £500,000 for 2023/24C. The AIA is £1,000,000 for 2023/24D. The AIA is not available for plant and machinery

3. What is the marriage allowance?

A. The marriage allowance allows transfer of £1,260 of personal allowanceB. The marriage allowance allows transfer of £5,000 of personal allowanceC. The marriage allowance is not a tax allowanceD. The marriage allowance is only for married couples with children

4. What is the blind person's allowance?

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

5. What is the rent-a-room relief allowance?

A. Rent-a-room relief gives a £5,000 allowanceB. Rent-a-room relief gives a £7,500 allowance for 2023/24C. Rent-a-room relief gives a £10,000 allowanceD. Rent-a-room relief is only available for letting a whole house

General10 MCQs

6. What is the personal savings allowance?

A. The PSA is £1,500 for all taxpayersB. The PSA is £2,000 for basic rate taxpayersC. The PSA is £1,000 for basic rate and £500 for higher rate taxpayersD. The PSA is not available to higher rate taxpayers

7. What is the dividend allowance for 2023/24?

A. The dividend allowance is £1,000 for 2023/24B. The dividend allowance is £2,000 for 2023/24C. The dividend allowance is £5,000 for 2023/24D. The dividend allowance is not available to additional rate taxpayers

8. What are the capital allowances for plant and machinery?

A. Capital allowances are only for buildingsB. Capital allowances are not available to sole tradersC. Capital allowances are given at a flat rate of 10%D. Capital allowances include AIA (100% up to £1m), main rate (18%), and special rate (6%)

9. What is the Structures and Buildings Allowance (SBA)?

A. The SBA gives a 5% allowanceB. The SBA gives a 3% annual allowance on qualifying commercial buildingsC. The SBA is not available for new buildingsD. The SBA is a 100% first-year allowance

10. What is the trading allowance for small incomes?

A. The trading allowance is £5,000B. The trading allowance is £2,000C. The trading allowance is £1,000 for 2023/24D. The trading allowance is not available for property income

📋 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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