(ii) Calculate the chargeable gain arising as a consequence of Jan accepting Jumper’s offer. (4 marks)
第1题:
(ii) Using the previous overhead allocation basis (as per note 4), calculate the budgeted profit/(loss)
attributable to each type of service for the year ending 31 December 2006 and comment on the results
obtained using the previous and revised methods of overhead allocation. (5 marks)
第2题:
(ii) Calculate the probability of the net profit being less than £75 million. (2 marks)
第3题:
(ii) Calculate her income tax (IT) and national insurance (NIC) payable for the year of assessment 2006/07.
(4 marks)
第4题:
(b) (i) Calculate the inheritance tax (IHT) that will be payable if Debbie were to die today (8 June 2005).
Assume that no tax planning measures are taken and that there has been no change in the value of any
of the assets since David’s death. (4 marks)
第5题:
(ii) Explain the income tax (IT), national insurance (NIC) and capital gains tax (CGT) implications arising on
the grant to and exercise by an employee of an option to buy shares in an unapproved share option
scheme and on the subsequent sale of these shares. State clearly how these would apply in Henry’s
case. (8 marks)
第6题:
(b) Calculate the inheritance tax (IHT) liability arising as a result of Christopher’s death. (11 marks)
第7题:
(ii) Assuming the new structure is implemented with effect from 1 August 2006, calculate the level of
management charge that should be made by Bold plc to Linden Limited for the year ended 31 July
2007, so as to minimise the group’s overall corporation tax (CT) liability for that year. (2 marks)
第8题:
(ii) Advise Andrew of the tax implications arising from the disposal of the 7% Government Stock, clearly
identifying the tax year in which any liability will arise and how it will be paid. (3 marks)
第9题:
(b) (i) Calculate Amanda’s income tax payable for the tax year 2006/07; (11 marks)
第10题:
(ii) equipment used in the manufacture of Bachas Blue; and (4 marks)
第11题:
(ii) Recommend further audit procedures that should be carried out. (4 marks)
第12题:
If there is any fine arising from inadequacy of marks,______ shall be liable for it.
A.the Carrier
B.the Owner
C.the Captain
D.the Merchant
第13题:
(c) Identify TWO QUALITATIVE benefits that might arise as a consequence of the investment in a new IT system
and explain how you would attempt to assess them. (4 marks)
第14题:
(ii) Calculate the minimum target contribution to sales ratio (%) at which ‘Nellie the Elephant’ will be
financially viable, assuming that all other data remain unchanged. (4 marks)
第15题:
(b) Donald actually decided to operate as a sole trader. The first year’s results of his business were not as he had
hoped, and he made a trading loss of £8,000 in the year to 31 March 2007. However, trading is now improving,
and Donald has sufficient orders to ensure that the business will make profits of at least £30,000 in the year to
31 March 2008.
In order to raise funds to support his business over the last 15 months, Donald has sold a painting which was
given to him on the death of his grandmother in January 1998. The probate value of the painting was £3,200,
and Donald sold it for £8,084 (after deduction of 6% commission costs) in November 2006.
He also sold other assets in the year of assessment 2006/07, realising further chargeable gains of £8,775 (after
indexation of £249 and taper relief of £975).
Required:
(i) Calculate the chargeable gain on the disposal of the painting in November 2006. (4 marks)
第16题:
(b) Calculate the taxable benefit in 2005/06 if Jan were to use the accommodation offered by his employer. You
may assume that the rules for calculating benefits are the same as in 2004/05. (3 marks)
第17题:
(ii) List the additional information required in order to calculate the employment income benefit in respect
of the provision of the furnished flat for 2007/08 and advise Benny of the potential income tax
implications of requesting a more centrally located flat in accordance with the company’s offer.
(4 marks)
第18题:
(ii) Calculate Paul’s tax liability if he exercises the share options in Memphis plc and subsequently sells the
shares in Memphis plc immediately, as proposed, and show how he may reduce this tax liability.
(4 marks)
第19题:
(ii) Calculate the corporation tax (CT) payable by Tay Limited for the year ended 31 March 2006, taking
advantage of all available reliefs. (3 marks)
第20题:
(b) Calculate Alvaro Pelorus’s capital gains tax liability for the tax year 2006/07 on the assumption that all
available reliefs are claimed. (8 marks)
第21题:
(c) Calculate and explain the amount of income tax relief that Gerard will obtain in respect of the pension
contributions he proposes to make in the tax year 2007/08 and contrast this with how his position could be
improved by delaying some of the contributions that he could have made in 2007/08 until 2008/09. You
should include relevant supporting calculations and quantify the additional tax savings arising as a result of
your advice.
You should ignore the proposed changes to the bonus scheme for this part of this question and assume that
Gerard’s income will not change in 2008/09. (12 marks)
第22题:
(ii) Deema Co. (4 marks)
第23题:
2 Assume that today’s date is 1 July 2005.
Jan is aged 45 and single. He is of Danish domicile but has been working in the United Kingdom since 1 May 2004
and intends to remain in the UK for the medium to long term. Although Jan worked briefly in the UK in 1986, he
has forgotten how UK taxation works and needs some assistance before preparing his UK income tax return.
Jan’s salary from 1 May 2004 was £74,760 per annum. Jan also has a company car – a Jaguar XJ8 with a list price
of £42,550 including extras, and CO2 emissions of 242g/km. The car was available to him from 1 July 2004. Free
petrol is provided by the company. Jan has other taxable benefits amounting to £3,965.
Jan’s other 2004/05 income comprises:
£
Dividend income from UK companies (cash received) 3,240
Interest received on an ISA account 230
Interest received on a UK bank account 740
Interest remitted from an offshore account (net of 15% withholding tax) 5,100
Income remitted from a villa in Portugal (net of 45% withholding tax) 4,598
The total interest arising on the offshore account was £9,000 (gross). In addition, Jan has not remitted other
Portuguese rental income arising in the year, totalling a further £1,500 (gross).
Jan informs you that his employer is thinking of providing him with rented accommodation while he looks for a house
to buy. The accommodation would be a two bedroom flat, valued at £155,000 with an annual value of £6,000. It
would be made available from 6 August 2005. The company will pay the rent of £600 per month for the first six
months. All other bills will be paid by Jan.
Jan also informs you that he has 25,000 ordinary shares in Gilet Ltd (‘Gilet’), an unquoted UK trading company. He
has held these shares since August 1986 when he bought 2,500 shares at £4.07 per share. In January 1994, a
bonus issue gave each shareholder nine shares for each ordinary share held. In the last week all Gilet’s shareholders
have received an offer from Jumper plc (‘Jumper’) who wishes to acquire the shares. Jumper has offered the following:
– 3 shares in Jumper (currently trading at £3.55 per share) for every 5 shares in Gilet, and
– 25p cash per share
Required:
(a) Calculate Jan’s 2004/05 income tax (IT) payable. (11 marks)