9.5 In March 2001, Morgan purchased the freehold of an office building for ￡642,000. Morgan sold the building in March 2015 for ￡1,250,100 and incurred ￡120,000 estate agents’ fees on the sale.He made no other disposals of chargeable assets during the tax year 2014–15 and his taxable income in the tax year 2014–15 was ￡37,495.What is Matthew’s capital gains tax liability for the tax year 2014–15?

1 .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?

A ￡16,000 B ￡22,000 C ￡24,000 D ￡26,000

题型: 单选题 提问时间: 2021-08-24

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2 .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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3 .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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4 .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

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5 .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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7 .Jet Ltd realised the following gains and losses on the disposal of assets during the year ended 31 March 2015:(1) Gain of ￡86,000 on the sale of an investment property.(2) Loss of ￡5,900 on the sale of two cars used in the business. Each car cost and was sold for more than ￡6,000.How should these be treated in the corporation tax computation of Jet Ltd for the year ended 31 March 2015?

A Investment property Chargeable gain; Two cars Exempt B Investment property Chargeable gain; Two cars Allowable capital loss C Investment property Exempt; Two cars Allowable capital loss D Investment property Exempt; Two cars Exempt

题型: 单选题 提问时间: 2021-08-24

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8 .Alexandrite Ltd bought a factory on 12 February 2001 for ￡156,000. At acquisition, professional fees incurred in acquiring the factory were ￡4,500. In May 2006 an extension was added to the factory at a cost of ￡32,000.In October 2014 Alexandrite Ltd sold the factory, which had always been used in its trade, for ￡321,000. Prior to the sale, Alexandrite Ltd repaired damage to fire doors following a break-in at a total cost of ￡3,000.What is the amount of the unindexed gain on the sale of the factory?

A ￡125,500 B ￡128,500 C ￡133,000 D ￡160,500

题型: 单选题 提问时间: 2021-08-24

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9 .Desperado Ltd sold a warehouse on 7 June 2015 for ￡315,000. The factory was purchased on 22 January 1998 for ￡154,000. Retail price indices (RPIs) are 159.5 for January 1998 and 258.7 for June 2015.What is Dash Ltd’s chargeable gain on the disposal of the factory?

A ￡65,212 B ￡65,221 C ￡100,142 D ￡161,000

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10 .For the tax year 2014–15 Samantha has chargeable gains of ￡23,100. She has unused capital losses of ￡25,700 brought forward from the tax year 2013–14.What amount of unused capital losses can Samantha carry forward to the tax year 2015–16?

A ￡2,600 B ￡12,100 C ￡13,600 D ￡25,700

题型: 单选题 提问时间: 2021-08-24

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