Required:

$($a$)$ Explain how the basis period for the first two $(2)$ periods of trading will be determined and state the tax years in which profits he made in each period will be assessed.

$(4$ marks$)$

$($b$)$ Compute the amount of the final income tax payable by James Nkhata for the charge year $2023.$ You should indicate by the use of zero $(0)$ for all employment benefits that are exempted from tax.

$(16$ marks$)$

$[$Total: $20$ Marks$]$