Laurel and Hardy have traded in partnership for many years, preparing accounts to 31 December each year and sharing profits equally. The adjusted trading profit for the yearto 31 December 2014 was ￡48,000.With effect from 1 October 2014 they changed their profit sharing agreement. Profits are now allocatedone-third to Laurel and two-thirds to Hardy.What amount of profit will be allocated to Laurel for the year ended 31 December 2014?

1 .Vanessa and Josh have traded in partnership for several years, preparing accounts to 30 June each year. Phil was admitted to the partnership on 1 November 2014.What is the basis period for Vanessa’s share of the partnership profits for the tax year 2014–15?

A Year to 30 June 2014 B 1 July 2013 to 31 October 2014 C 1 November 2014 to 5 April 2015 D Year to 30 June 2015

题型: 单选题 提问时间: 2021-08-24

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2 .Xavier and Yolanda have traded in partnership for several years. Their profit-sharing arrangements are: Xavier Yolanda Annual salaries ￡6,700 ￡4,400 4% interest on capital account balances of ￡33,000 ￡27,000 Profit-sharing ratio 2 1 Adjusted trading profits for the year ended 31 March 2015 were ￡42,300.What amount of profit will be allocated to Xavier for the year ended 31 March 2015?

A ￡27,220 B ￡27,500 C ￡27,920 D ￡28,200

题型: 单选题 提问时间: 2021-08-24

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3 .Larimar and Amber have been in partnership for many years. The partnership agreement allocates partners’ interest at 5% annually on capital invested. The balance of any profits is shared 35% to Larimar and 65% to Amber.On 31 December2014 Larimar’s capital account had a balance of ￡36,000 and Amber’sbalance was ￡24,000. For the year ended 31 December 2014 the partnership had a tax adjusted trading profitof ￡120,000.What is the amount of Larimar’s trading profit for the tax year 2014–15?

A ￡42,750 B ￡43,000 C ￡41,350 D ￡40,950

题型: 单选题 提问时间: 2021-08-24

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4 .Cate and Dani have traded in partnership for several years. Their profit-sharing arrangements are: Cate Dani Annual salaries ￡5,000 ￡4,000 6% interest on capital account balances ￡35,000 ￡20,000 Profit-sharing ratio 3 2 Adjusted trading profitsfor the year ended 31 March 2015 were ￡33,000.What amount of profit will be allocated to Dani for the year ended 31 March 2015?

A ￡13,200 B ￡13,080 C ￡13,480 D ￡13,600

题型: 单选题 提问时间: 2021-08-24

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5 .Which of the following statements about taxation of partnerships is/are correct?(1) A partner whohas a trading loss for a tax year can choose whichever form of loss relief bestsuits his individual circumstances.(2) Each partneris liable for any income tax due on their other partners’ shares of the partnership profits.What amount should be included in the capital allowance computation as the acquisition cost of this vehicle?

A 1 only B 2 only C Both 1 and 2 D Neither 1 nor 2

题型: 单选题 提问时间: 2021-08-24

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7 .Pieter purchased aholiday home in July 2005. The holiday home cost ￡95,000 and he paid legal fees of ￡2,600 relating to the purchase.During 2010 hespent ￡6,700 on an extension to the kitchen and in 2013 he spent￡3,300 on roof repairs following a storm. Pieter anticipates selling the house in the next few months.What is the total amount of allowable expenditure on the disposal of the holiday home?

A ￡97,600 B ￡100,900 C ￡104,300 D ￡106,600

题型: 单选题 提问时间: 2021-08-24

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8 .For the tax year2014–15 Arthur’s taxable income is ￡27,985. During the year he sold an antique chair which gave rise to a chargeable gain of ￡33,600.What is Arthur’s CGT liability for the tax year 2014–15?

A ￡4,068 B ￡5,939 C ￡6,328 D ￡9,019

题型: 单选题 提问时间: 2021-08-24

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9 .What will an individual taxpayer achieve by making sufficient disposals in the tax year 2014–15 so that chargeable gains are at least ￡11,000?(1) The rate of CGT will be minimised(2) The due date will be delayed as long as possible(3) The benefit of the basic rate tax band will be maximised(4) The benefit of the annual exempt amount will be maximised

A 1 only B 1 and 3 only C 2 and 4 only D 4 only

题型: 单选题 提问时间: 2021-08-24

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10 .Jade has calculated her taxable gains for the tax year 2014–15 to be ￡35,000. She is not sure about the correct treatment of the following items:(1) A gain of ￡3,900 on the sale of her five-year old race horse which she has included in her calculation(2) Auctioneer’s fees of ￡600 which she has deducted from the ￡14,000 of sale proceeds for a painting which she sold at auctionWhat effect will the correct treatment of each of these items have on Jade’s taxable gains?

A Item (1) No effect; Item (2)Decrease B Item (1) Decrease; Item (2)No effect C Item (1) Increase; Item (2)Decrease D Item (1) No effect; Item (2)Increase

题型: 单选题 提问时间: 2021-08-24

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