Highway Ltd has the following results for the years to 31 March 2015 and 31 March 2016: 2015 2016 ￡ ￡ Adjusted trading profit/(loss) 72,000 (90,000) Property business profits 9,000 8,100 Chargeable gains 8,100 2,300 Qualifying charitable donations 1,800 1,800 The company makes all possible claims to relieve the trading loss against total profits.What is the amount of total taxable profits for the year to 31 March 2015?

1 .Janice owned shares in her personal trading company, Navros Ltd, which had cost ￡23,700. In August 2015 she gave the shares to her brother. At that date the market value of the shares was ￡82,500 and all of the chargeable assets of Navros Ltd were chargeable business assets.What amount of the gain can be held-over?

A Nil B ￡23,700 C ￡58,800 D ￡82,500

题型: 单选题 提问时间: 2021-08-24

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2 .Alice is in business as a sole trader. On 13 May 2015, she sold a freehold warehouse for ￡184,000, and this resulted in a chargeable gain of ￡38,600. Alice purchased a replacement freehold warehouse on 20 May 2015 for ￡143,000.Where possible, Alice always makes a claim to roll over gains against the cost of replacement assets. Both buildings have been, or will be, used for business purposes by Alice.What is the base cost of the replacement warehouse for capital gains tax purposes?

A ￡181,600 B ￡104,400 C ￡143,000 D ￡102,000

题型: 单选题 提问时间: 2021-08-24

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3 .Lapis Ltd commenced trading on 1 February 2014 and had the following periods of account:1 February 2014 to 31 July 20151 August 2015 to 30 April 2016The business was not successful and Lapis ceased to trade on 30 April 2016.What is the last day of Lapis Ltd’s first corporation tax accounting period?

A 31 July 2014 B 31 January 2015 C 30 April 2015 D 31 July 2015

题型: 单选题 提问时间: 2021-08-24

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4 .Kew Ltd has the following trading results to 31 December:2013 Loss ￡(37,600)2014 Profit ￡19,500The trading loss of ￡37,600 is carried forward.The company also has bank interest receivable of ￡2,150 in 2014 and ￡3,200 in 2015.What is the amount of Kew Ltd’s taxable total profits for the year to 31 December 2015?

A Nil B ￡3,200 C ￡19,500 D ￡22,700

题型: 单选题 提问时间: 2021-08-24

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5 .Warovski Ltd has taxable total profits of ￡230,000 for the year ended 31 March 2016. However, this figure is before taking into account the following items, which were omitted from the financial statements:(1) Qualifying charitable donations(2) Recovery of trade debts previously written off as irrecoverableWhat effect will each item have on Warovski Ltd’s taxable total profits?

A Donations：No effect; Debt recovery：Increase B Donations：Decrease; Debt recovery：No effect C Donations：Increase; Debt recovery：Decrease D Donations：Decrease ; Debt recovery：Increase

题型: 单选题 提问时间: 2021-08-24

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7 .In the year ended 31 July 2016, Cat’s Eye Ltd had bank interest receivable of ￡97,000 and loan interest payable as follows:On loan to acquire new factory premises ￡27,200On loan to acquire an investment property ￡13,400On loan to acquire shares in a subsidiary company ￡5,300What net amount is assessable under the loan relationship rules for the year ended 31 July 2016 and what amount of interest which is deductible in arriving at Cat’s Eye Ltd’s trading profit?

A Net amount assessable ￡51,100; Deductible interest ￡0 B Net amount assessable ￡69,800; Deductible interest￡18,700 C Net amount assessable ￡78,300; Deductible interest ￡27,200 D Net amount assessable ￡91,700; Deductible interest ￡40,600

题型: 单选题 提问时间: 2021-08-24

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8 .Xiao Ltd has the following results for the two accounting periods to 31 March 2016: 9 months to 31 March 2015 Year to 31 March 2016 ￡ ￡ Trading profit/(loss) 21,900 (24,800) Chargeable gains 3,500 6,600 Assuming that Xiao Ltd makes all possible claims to relieve the trading loss against total profits, what is the total taxable profit for the nine months to 31 March 2015?

A Nil B ￡7,200 C ￡11,750 D ￡21,900

题型: 单选题 提问时间: 2021-08-24

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9 .Zing Ltd made a trading profit in the year to 30 June 2014 and again for the nine months to 31 March 2015. It made a trading loss in the year to 31 March 2016.The company made all possible claims to relieve the trading loss against total profits and a repayment of corporation tax became due for the year to 30 June 2014.From what date will interest on the repayment of corporation tax for the year to 30 June 2014 accrue?

A 31 January 2015 B 1 April 2015 C 1 January 2016 D 1 January 2017

题型: 单选题 提问时间: 2021-08-24

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10 .Sunny Ltd has had the following results: Period Trading Profit/(loss) ￡ Year ended 31 December 2015 (120,000) Five-month period ended 31 December 2014 47,000 Year ended 31 July 2014 90,000 The company does not have any other income.How much of Sunny Ltd’s trading loss for the year ended 31 December 2015 can be relieved against its total profits of ￡90,000 for the year ended 31 July 2014?

A ￡52,500 B ￡70,000 C ￡73,000 D ￡90,000

题型: 单选题 提问时间: 2021-08-24

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