1.
In the income tax computation, property income is classified as _______.
A. 
B. 
C. 
D. 
2.
Wear & Tear allowance can be claimed in respect of the property which is _________.
A. 
B. 
C. 
D. 
3.
Which of the following is correct in respect of Capital Allowance & Wear and Tear Allowance?
A. 
Only one can be claimed for the accommodation let furnished
B. 
Both can be claimed in respect of property let unfurnished
C. 
Only one can be claimed for the accommodation let unfurnished
D. 
Both can be claimed in respect of property let furnished
4.
Alpha rents out 3 furnished properties during tax year 2011/12. He received rent at £500 per month from property A in advance for July 2011-June2012. Rent per month for the previous year was 10% less. For property B, rent is paid monthly in advance. The rent is £600 per month. Rent was 10% less till 30 June 2011. Property C earns the rent quarterly in advance of £700 per month. Quarters start in January, April, July & September. The rent was 10% less up to 30 September 2011. Water rates of £250 and council tax of £450 are paid on 1/2/2012 in respect of property A which cover calendar year of 2012. 20% less amount was paid for both, last year, on 1/2/2011. In respect of property B, Water Rates and Council Tax of £300 and £150 were paid for calendar year 2012 on 1/3/2012. The same were paid 15% less for calendar years 2011 on 1/3/2011. In respect of property C, Water Rates and Council Tax of £400 and £200 respectively on 1/1/2012 for the calendar year 2012. The same amount was paid for calendar year 2011 on 1/1/2011. The rental income from property A for the tax year 2011/12 is:
A. 
B. 
C. 
D. 
5.
Alpha rents out 3 furnished properties during tax year 2011/12. He received rent at £500 per month from property A in advance for July 2011-June2012. Rent per month for the previous year was 10% less. For property B, rent is paid monthly in advance. The rent is £600 per month. Rent was 10% less till 30 June 2011. Property C earns the rent quarterly in advance of £700 per month. Quarters start in January, April, July & September. The rent was 10% less up to 30 September 2011. Water rates of £250 and council tax of £450 are paid on 1/2/2012 in respect of property A which cover calendar year of 2012. 20% less amount was paid for both, last year, on 1/2/2011. In respect of property B, Water Rates and Council Tax of £300 and £150 were paid for calendar year 2012 on 1/3/2012. The same were paid 15% less for calendar years 2011 on 1/3/2011. In respect of property C, Water Rates and Council Tax of £400 and £200 respectively on 1/1/2012 for the calendar year 2012. The same amount was paid for calendar year 2011 on 1/1/2011. The rental income from property B for the tax year 2011/12 is:
A. 
B. 
C. 
D. 
6.
Alpha rents out 3 furnished properties during tax year 2011/12. He received rent at £500 per month from property A in advance for July 2011-June2012. Rent per month for the previous year was 10% less. For property B, rent is paid monthly in advance. The rent is £600 per month. Rent was 10% less till 30 June 2011. Property C earns the rent quarterly in advance of £700 per month. Quarters start in January, April, July & September. The rent was 10% less up to 30 September 2011. Water rates of £250 and council tax of £450 are paid on 1/2/2012 in respect of property A which cover calendar year of 2012. 20% less amount was paid for both, last year, on 1/2/2011. In respect of property B, Water Rates and Council Tax of £300 and £150 were paid for calendar year 2012 on 1/3/2012. The same were paid 15% less for calendar years 2011 on 1/3/2011. In respect of property C, Water Rates and Council Tax of £400 and £200 respectively on 1/1/2012 for the calendar year 2012. The same amount was paid for calendar year 2011 on 1/1/2011. The rental income from property C for the tax year 2011/12 is:
A. 
B. 
C. 
D. 
7.
Romeo lets out the property furnished on 1 July 2011. He received quarterly rent of £3,000 for each quarter staring January, April, July and September in arrears. Council Tax of £900 and Water charges of £420 were paid by him on 1 October 2011 for the tax year 2011/12. Previous tenant left on 30 June 2011 and did not pay the rent for the last quarter which was £2,800. The taxable rental income is:
A. 
B. 
C. 
D. 
8.
In relation to Furnished Holiday lettings, furniture can attract:
A. 
Only Wear & Tear allowance
B. 
C. 
D. 
9.
Income from Furnished Holiday Lettings:
A. 
Qualifies as relevant earnings for the purpose of pension relief
B. 
Does not qualify as relevant earnings for the purpose of pension relief
C. 
Can either qualify subject to the taxpayer opting for that
10.
In order to qualify for Furnished Holiday lettings, the accommodation is available for letting for at least _____ days during the tax year.
A. 
B. 
C. 
D. 
11.
In order to qualify for Furnished Holiday lettings, the accommodation must actually be let to members of the public for at least _____ days during the tax year.
A. 
B. 
C. 
D. 
12.
Exempt amount for Rent A Room Relief is £_______ (gross rent before expenses and capital allowances).
A. 
B. 
C. 
D. 
13.
Alpha rents a property on Lease for 20 years receiving a premium of £20,000. In respect of the premium, his taxable property income will be:
A. 
B. 
C. 
D. 
14.
Alpha rents a property on Lease for 20 years receiving a premium of £40,000. In respect of the premium, his taxable property income will be:
A. 
B. 
C. 
D. 
15.
Alpha granted lease to beta on 1.1.2001 for 45 years and received premium of £35,000. Beta granted sub-lease of the same property to Theta on 1.1.2012 for 15 years and received premium of £15,000. In respect of the premium received by Beta, his deemed income will be:
A. 
B. 
C. 
D.