ACCA 2026 TX Taxation Tax Reliefs Free Quiz 2

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ACCA 2026 TX Taxation Tax Reliefs Free Quiz 2

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ACCA 2026 TX Taxation Tax Reliefs Free Quiz 2

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

General10 MCQs

1. What is the Seed Enterprise Investment Scheme (SEIS) income tax relief?

A. SEIS gives 50% income tax relief on investments up to £100,000B. SEIS gives 30% income tax reliefC. SEIS gives 20% income tax reliefD. SEIS is not available to UK residents

2. What is the income tax relief for investments in VCTs?

A. VCTs give 50% income tax reliefB. VCTs give 20% income tax reliefC. VCTs give no income tax reliefD. VCTs give 30% income tax relief on investments up to £200,000

3. What relief is available for losses on qualifying unquoted shares?

A. Losses on unquoted shares are not relievable for income taxB. Losses on unquoted shares can be set against income tax (subject to conditions)C. Losses on unquoted shares can only be set against capital gainsD. Losses on unquoted shares are not available to individuals

4. What is Business Property Relief (BPR)?

A. BPR gives 100% relief on all business assetsB. BPR gives 50% relief on all business assetsC. BPR provides 100% or 50% relief depending on the type of business assetD. BPR is not available for shares in a trading company

5. What is the relief for pre-trading expenditure?

A. Pre-trading expenditure can be relieved as if incurred on the first day of tradingB. Pre-trading expenditure cannot be relievedC. Pre-trading expenditure is relieved in the year it was paidD. Pre-trading expenditure is relieved over a 10-year period

General10 MCQs

6. What is Investors' Relief for CGT?

A. Investors' relief gives a 20% rate on gains up to £5 millionB. Investors' relief gives a 0% rate on gainsC. Investors' relief is not available for shares in a companyD. Investors' relief gives a 10% rate on gains from unlisted shares held for 3 years, up to £10 million

7. What is the tax relief for redundancy (termination) payments?

A. Termination payments are fully taxableB. The first £30,000 of a termination payment is tax-freeC. The first £10,000 of a termination payment is tax-freeD. Termination payments are tax-free only if the employer pays directly

8. What relief is available for interest on a loan to invest in a partnership?

A. Interest on a partnership loan is not deductibleB. Interest on a partnership loan is deductible only if the partnership is tradingC. Interest on a loan to invest in a partnership is deductible from trading incomeD. Interest on a partnership loan is deductible from total income

9. What relief is available for professional body subscriptions?

A. Professional body subscriptions can be deducted from employment income if necessary for the jobB. Professional body subscriptions are not deductibleC. Professional body subscriptions are only deductible for directorsD. Professional body subscriptions are deductible from total income

10. What relief is available for losses on EIS shares?

A. Losses on EIS shares cannot be relieved against incomeB. Losses on EIS shares can only be set against capital gainsC. Losses on EIS shares are not available for income taxD. Losses on EIS shares can be relieved against income tax (subject to conditions)

📋 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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