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Question 2. Trading Income Lisa is a partner in KLM Partnership. She joined as a partner on 6 September 2021. The two other partners previously

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Question 2. Trading Income Lisa is a partner in KLM Partnership. She joined as a partner on 6 September 2021. The two other partners previously shared profits equally. When she joined they agreed she would receive a 45,000 salary plus 10% of the residual profits. Under the new agreement, the other two partners receive 45% of the residual profits each. The partnership profits for the year ended 5 April 2022 are given in the Data Source. These profits are before any deductions for capital allowances (details given below). The written down value of assets brought forward at 6 April 2021 were: Purchases and sales of assets for the year to 5 April 2022 were as follows: Requirement Calculate the taxable trading profits of Lisa from the partnership in 2021-22

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