(TX 12/09) (amended) 27 mins 1576, commenced self-employment as a hairdresser on 1 January 2012. She had tax adjusted trading for the six-month period ended 30 June 2012 and £21,600 for the year ended 30 June 2013: ‘information is available for the tax year 2014/15: forthe year ended 30 June 2014 'Statement of profit or loss for the year ended 30 June 2014 is as follows: Note £ £ 63,635 Depreciation 2,635 Motor expenses 2 2,200 Professional feos 3 1,650 Property expenses 4 12,900 Purchases 5 4,700 Other expenses 6 16,550 (40,835) 23,000 all the running expenses for her motor car to the business. During the year ended 30 June 2014 2 total of 8,000 miles, of which 7,000 were for private journeys. r for professional fees includes £1,260 for legal fees in connection with the grant of a new five-year /=t parking spaces for customers’ motor cars. fn flat that is situated above her hairdressing studio, and one-third of the total property expenses relate to this fat ihe year ended 30 June 2014 Na took goods out of the hairdressing business for her personal use paying for them, and no entry has beon made in the accounts to record this. The goods cost £250 that has been deducted under ‘purchases') and had a selling price of £450, for other expenses of £16,550 includes £480 for a fine in respect of health and safety regulations for @ trade subscription to the Guild of Small Hairdressers. ‘Per private telephone to make business telephone calls. The total cost ofthe private telephone for ‘ended 30 June 2014 was £1,200, and 20% ofthis related to business telophone calls. The cost of ‘telephone is not included in the statement of profit or loss expenses of £40,636. /alowances for the year ended 30 June 2014 are £810. she tax year 2014/15 Na received interest of £310 from a new individual savings account (NISA) and .f £1,080 from quoted company shareholdings. These were the actual cash amounts recelved in the amount of trading profits that will have been assessed on Na forthe tax years 2011/12, 2nd 2013/14 respectively, clearly identifying the amount of any overlap profits. (5 marks) 2's tax adjusted trading profit for the year ended 30 June 2014, computation should commence with the net profit figure of £23,000, and should list all of the seered to in notes (1) to (8) indicating by the use of zero (0) any item that do not roquiro (7 marks) (3 marks) Ne's income tax liability forthe tax year 2014/15, (Total = 15 marks)8 (Kep 12d 09318 Shep 061) 00%’ 1L3 sem 20410 Avasinu sty Suipiord jo Auedwoo ou 0} S09 [e}0} ou AYesunU saedyuOM S10 AgsilJ Ye Oe & uum papivoud sem s0.usnep plo-ek-2a1uy 8.007 102 49qUHBOEC LE © yLOZ Udy g WOH} poued ayy OuLNG (+) ‘plog 1eqwa0ed 1¢ Uo id Knsily yy yUeWAo|dw paseed ay UeLpA 00D'0L3 4o ueo} ey jo o2uzyeq oy predon pur ‘+102 Aine LE wo ued} au3 Jo D00'DS3 pleda: eop “@Ber}09 Aepyoy aseyoind pinoo ay wut 0S 000'0213 10 UeO| 284 S@L—W Ue YAM Bor papINcsd OW AWSALY yLOzAE LUO — (E) ‘auayos vojsuad jeuoyednodo pesaysiber _SUloysng PUR ONUDADY MH S214 ANSIY O}U! 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