ACCA Advanced Taxation (ATX) Practice Exam

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Prepare for the ACCA Advanced Taxation Exam. Use interactive flashcards and multiple-choice questions, complete with hints and comprehensive explanations. Ensure your success on exam day!

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True or False: The personal allowance is exclusively available for UK and EEA citizens.

  1. True

  2. False

  3. Only available for residents of the UK

  4. Available for all EU citizens

The correct answer is: True

The statement is false because the personal allowance is not exclusively available for UK and EEA citizens. The personal allowance is generally available to individuals who are resident in the UK for tax purposes, regardless of their nationality or citizenship. This means that a wider range of individuals, including those who may not be citizens of the UK or the EEA, can claim the personal allowance, provided they meet the residency requirements set by HMRC. Being a resident for UK tax purposes is the key criterion for being able to claim the personal allowance, rather than citizenship. This distinction is crucial for understanding who can access this tax benefit. Thus, claiming the personal allowance isn't limited to UK or EEA citizens, making the assertion incorrect.

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