Jack had acquired the following shares in S plc: Date No. of shares 1.10.93 1,000 25.1.01 2,000 22.9.03 1,500 29.4.07 1,500 In 2019/20 there is a 1 for 2 rights issue. How many right issue shares are put in the share pool?

1 .Judith sells a shop used in her business in July 2019 for ￡70,000. The shop had been bought by her mother in March 2006 for ￡25,000 and had been given to Judith in November 2008 when its market value was ￡30,000. Gift relief was claimed.

A ￡45,000 B ￡40,000 C ￡35,400 D ￡32,500

题型: 单选题 提问时间: 2021-08-25

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2 .Lucy sold a factory for ? 500,000, realising a chargeable gain of ￡185,000 and immediately reinvested ￡475,000 in a new factory. What is the chargeable gain on the sale of the first factory, assuming that all available reliefs are claimed?

A ￡Nil B ￡25,000 C ￡290,000 D ￡185,000

题型: 单选题 提问时间: 2021-08-25

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3 .Giles purchased a picture in July 2000 for ￡5,500 and sold it in September 2019 for ￡7,500, incurring ￡300 expenses of sale. What is Giles' chargeable gain?

A ￡1,300 B ￡2,000 C ￡2,500 D ￡1,700

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4 .Nicole is selling her main residence which she has owned for 25 years. She lived in the house for the first eight years of ownership, let the property for the next five years whilst she was posted abroad for her work, returned to live in the house for another two years and then moved out for good. How many years of deemed occupation will count when calculating Nicole's chargeable gain?

A One B Five C Sixteen and a half D Six and a half

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5 .Angus bought a warehouse to use in his trade for ￡155,260 in September 2004. He sold the warehouse to his son Mark in October 2019 for ￡150,000 when the market value was ￡435,675. Angus and Mark make a joint gift relief claim.

A ￡5,260 B ￡150,000 C ￡280,415 D ￡285,675

题型: 单选题 提问时间: 2021-08-25

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7 .Cameron died on 1 September 2019. He had made one gift during his lifetime on 14 June 2014 of ￡350,000 to his daughter on her marriage.How much inheritance tax (IHT) is payable in respect of this gift?

A ￡5,600 B ￡4,000 C ￡3,200 D ￡2,240

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8 .Until what date must John retain his records for his 2019/20 tax return?

A 31 January 2022 B 5 April 2022 C 31 January 2026 D 5 April 2026

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9 .Samantha gave ￡5,000 to her son on 4 November 2018. This was her first lifetime gift. Samantha then created a trust for the benefit of her son and his children on 6 June 2019 and gave quoted shares and cash valued at ￡400,000 to the trust. She agreed to pay the inheritance tax due on the gift.What is the lifetime tax payable by Samantha on her gift to the trust?

A ￡17,250 B ￡17,750 C ￡18,000 D ￡14,400

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10 .Wayne and Melanie were married for many years until Melanie's death on 4 August 2018. Melanie's death estate was valued at ￡600,000 and in her will she left ￡150,000 to their daughter, Diane, and the remainder of her estate to Wayne. She had made no lifetime transfers. Wayne died on 19 April 2019. His death estate was valued at ￡900,000. Wayne left his estate to Diane. He had made a potentially exempt transfer (after all exemptions) of ￡85,000 in August 2017. The nil rate band in 2018/19 was ￡325,000. What is the maximum nil rate band on Wayne's death?

A ￡565,000 B ￡415,000 C ￡650,000 D ￡500,000

题型: 单选题 提问时间: 2021-08-25

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