During the tax year 2019/20, Ahmed has trading profit of £20,000 and sold a commercial investment property giving rise to a capital gain of £13,000. Which one of the following is total taxable income of Ahmed, for the tax year 2019/20 as per UK tax laws? a. £8,500 b. None of the options c. £7,500 d. £1,000

During the tax year 2019/20, Ahmed has trading profit of £20,000 and sold a commercial investment property giving rise to a capital gain of £13,000. Which one of the following is total taxable income of Ahmed, for the tax year 2019/20 as per UK tax laws? a. £8,500 b. None of the options c. £7,500 d. £1,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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