4 Coral is the owner and managing director of Reef Ltd. She is considering the manner in which she will make her first
pension contributions. In November 2007 she inherited her mother’s house in the country of Kalania.
The following information has been extracted from client files and from telephone conversations with Coral.
Coral:
– 1972 – Born in the country of Kalania. Her father, who died in 2002, was domiciled in Kalania.
– 1999 – Moved to the UK and has lived and worked here since then.
– 2001 – Subscribed for 100% of the ordinary share capital of Reef Ltd.
– Intends to sell Reef Ltd and return to live in the country of Kalania in 2012.
– No income apart from that received from Reef Ltd.
Reef Ltd:
– A UK resident company with annual profits chargeable to corporation tax of approximately £70,000.
– Four employees including Coral.
– Provides scuba diving lessons to members of the public.
Payments from Reef Ltd to Coral in 2007/08:
– Director’s fees of £460 per month.
– Dividends paid of £14,250 in June 2007 and £14,250 in September 2007.
Pension contributions:
– Coral has not so far made any pension contributions in the tax year 2007/08 but wishes to make gross pension
contributions of £9,000.
– The contributions are to be made by Reef Ltd or Coral or a combination of the two in such a way as to minimise
the total after tax cost.
– Any contributions made by Coral will be funded by an additional dividend from Reef Ltd.
House in the country of Kalania:
– Beachfront property with potential rental income of £550 per month after deduction of allowable expenditure.
– Coral will use it for holidays for two months each year.
The tax system in the country of Kalania:
– No capital gains tax or inheritance tax.
– Income tax at 8% on income arising in the country of Kalania.
– No double tax treaty with the UK.
Required:
(a) With the objective of minimising the total after tax cost, advise Coral as to whether the gross pension
contributions of £9,000 should be made:
– wholly by Reef Ltd; or
– by Coral to the extent that they are tax allowable with the balance made by Reef Ltd.
Your answer should include supporting calculations where necessary. (9 marks)
第1题:
Mother wanted to be a good provider, a role she _____ since her marriage to Father.
A.shoulders
B.shouldered
C.is shouldering
D.has been shouldering
第2题:
The Extended Family
Mrs Sharp, a large, red-faced woman in her late sixties, has lived in Greenleas, a 'new town' in the countryside outside London, since 1958. Before that she lived in Bethnal Green, an area of inner London. She was moved to Greenleas by the local authorities when her old house was demolished.
She came from a large family with six girls and two boys, and she grew up among brothers, sisters, uncles, aunts, grandparents and cousins. When she married her boyfriend from school at eighteen, they went on living with her parents, and her first child was brought up more by her mother than by herself, because she always worked.
As the family grew, they moved out of their parents' house to a flat. It was in the next street, and their life was still that of the extended family. "All my family used to live around Denby Street," said Mrs Sharp, "and we were always in and out of each other's houses." When she went to the shops, she used to call in on her mother to see if she wanted anything. Every day she would visit one sister or another and see a nephew or niece at the corner shop or in the market.
"You always knew 90% of the people you saw in the street everyday, either they were related to you or you were at school with them," she said.
When her babies were born (she had two sons and a daughter), she said, "All my sisters and neighbours would help – they used to come and make a cup of tea, or help in some other way." And every Saturday night there was a family party. It was at Mrs Sharp's mother's house. "Of course we all know each other very well. You have to learn to get on with each other. I had one neighbour who was always poking her nose into our business. She was forever asking questions and gossiping. But you had to put up with everyone, whatever they were like."
1.Why did Mrs. Sharp have to move to Greenleas? ()
A.Because she had to work there.
B.Because she didn’t like the old place at all.
C.Because her house in the downtown area was knocked down.
2.When she got married, she lived ______.
A.together with her parents all the time
B.together with her parents for some time
C.far away from her parents’ house
3.Why did she know so many people? ()
A.Because she was easy going.
B.Because they were either her relatives or schoolmates.
C.Because she was good at making friends with people.
4.The sentence “I had one neighbour who was always poking her nose into our business.” in the last Para. means ______.
A.I had one neighbour who was always warm-hearted.
B.I had one neighbour who was always ready to help us.
C.I had one neighbour who always showed her interests in our private affairs.
5.What does this passage mainly deal with? ()
A.What the extended family is like.
B.The relationship between Mrs Sharp and her neighbour.
C.How Mrs Sharp brings her children up.
第3题:
A、to
B、of
C、for
D、about
第4题:
Mary has just returned to the USA after studying in England far three years. She decided to study at a British university rather than an American one because her mother is from England and she wanted to get to know her mother,s family better. She studied English Literature at Goldsmiths’College,which is in London. She lived with her grandmother while she was studying. The college was recommended by a friend's brother
who had studied in England for his MBA. Mary told her friends that she was going to return to Europe to work because she had enjoyed her time in England so much.
1. Mary is now in___
A.England
B.the USA
C.France
2. She studied at___untverstty.
A.a British
B.an American
C.a Chinese
3. Mast probably, her grandmother_________
A. worked in the college
B. studied English Literature
C. lived in London
4. Her friend's brother recommended her to________
A. study for her MBA
B. study in the college
C. work for his company
5. Mary would return to Europe to_.
A. study
B. spend her holiday
C. work
第5题:
B
Rachel’s mother,Ruth, has a busy and interesting life. Ruth usually wakes up at 6:30 am. Then she likes to lie in bed for a while and drink coffee. After about half an hour, she gets up and goes outside to work on the trees and flowers around the apart-ment. At about 8:00 she comes back inside and takes a shower. She then dresses and goes to exercise with her friends. When she finishes her exercise, She goes shopping.
She comes home at around 10: 30,cleans the house and cooks lunch. From 12:00 to 12:30,she eats lunch with her husband, Shuka. She then teaches the piano, the organ (风琴),and the accordion(手风琴)lessons to her students, until 7:30 in the evening.when she finishes, she eats dinner with her husband. In the evening, she likes to play cards or go dancing. At about 11:30 pm, she and her husband usually go to bed.
根据短文内容判断正(T)误(F)。
( )26. After she wakes up, Ruth gets up at once.
第6题:
第7题:
第8题:
第9题:
第10题:
第11题:
第12题:
after mother died
before she became a writer
when she was a child
when mother gave it to her
第13题:
A、run out of
B、run short of
C、is short of
D、is short
第14题:
She has been ill for a month, which set her () in her studies.
A、back
B、off
C、down
D、in
第15题:
Linda, what’s wrong with your grandmother?().
A、 She is not retired
B、 She hurt her leg.
C、 She got a new house.
第16题:
Last week Polly decided to give up her job. She is fed up with it, she finds it boring and she wants to change her career. Her employers,‘Lucky Shops',are not too bad. They give her quite good benefits,such as free lunches and paid holidays, but she does not get on with her boss. Her salary is quite goad, but,because she is not happy, she wants to lank far something else. Last Saturday she talked about it with David and Xiaoyan. They agreed with her. They said she should resign and try another career, so she took action. She lacked at advertisements in the paper and picked out three jabs that looked interesting. She had to write out her GV to apply for a jab, and she did that an Wednesday evening. Xiaayan helped her with it. She has a lot of experience of selling and goad business training but is worried about her lack of experience in some areas.
1. Polly has decided to ask for a higher salary.
A. Right
B. Wrong
2. She doesn't like her bass.
A. Right
B. Wrong
3. Her friends agreed that she should resign.
A. Right
B. Wrong
4. She has no experience of selling.
A. Right
B. Wrong
5. She's worried about her lack of experience in same areas.
A. Right
B. Wrong
第17题:
第18题:
第19题:
第20题:
第21题:
第22题:
第23题:
Giving
To be given
Having given
Having been given