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Question 4a
Amanda, Beatrice and Claude have been in partnership since 1 November 2008, preparing accounts to 31 October annually. Daniel joined as a partner on 1 May 2014. Profits have always been shared equally. The partnership’s recent tax-adjusted trading profits are as follows:
| £ | |
|---|---|
| Year ended 31 October 2013 | 147,000 |
| Year ended 31 October 2014 | 96,000 |
| Year ended 31 October 2015 (forecast) | 180,000 |
Required:
Calculate Daniel’s trading income assessment for the tax year 2014–15. (3 marks)