Janice owned shares in her personal trading company, Navros Ltd, which had cost ￡23,700.In August 2014 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?

1 .Jordan purchased ordinary shares in Birthday plc as follows: Date Number of shares Cost ￡ 31 July 1988 500 1,250 31 March 2015 1,500 4,400 10 April 2015 1,500 4,850 Jordan sold 500 shares on 15 May 2015 for ￡4,500. He made no further acquisitions of shares during 2015.What amount of cost should be deducted in determining the chargeable gain on the disposal of shares?

A ￡1,250 B ￡1,467 C ￡1,500 D ￡1,617

题型: 单选题 提问时间: 2021-08-24

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2 .On 31 August 2012, Fernando bought 2,400 ordinary shares in Party plc at a cost of ￡6,600. On 31 March 2013 the company made a 1 for 10 bonus issue. On 31 March 2015, Fernando sold 400 shares for ￡900.What is the chargeable gain or allowable loss arising on the disposal?

A ￡200 loss B ￡100 loss C ￡100 gain D ￡200 gain

题型: 单选题 提问时间: 2021-08-24

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3 .Peter sold a warehouse on 27 June 2014 which resulted in a chargeable gain.During what period must reinvestment take place if Peter wishes to claim rollover relief in respect of this gain?

A 27 June 2013 to 27 June 2016 B 27 June 2013 to 27 June 2017 C 27 June 2014 to 27 June 2017 D 27 June 2014 to 27 June 2018

题型: 单选题 提问时间: 2021-08-24

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4 .In February 1993, Ronald bought land and buildings for use in his trade for ￡155,000. In June 2014 the land and buildings were sold for ￡620,000. In September 2014 Ronald bought replacement buildings for ￡420,000.What is the amount of the gain that can be rolled over?

A Nil B ￡200,000 C ￡265,000 D ￡465,000

题型: 单选题 提问时间: 2021-08-24

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5 .Which of the following are qualifying business assets for roll-over relief?(1) Motor cars(2) A warehouse(3) Fixed plant and machinery(4) Furnished holiday accommodation

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

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7 .Christos sold his business, which he had owned for 25 years, in January 2015. He realised a gain of ￡176,000 on the sale of his business premises and a loss of ￡16,500 on the disposal of goodwill. Christos has no other chargeable gains or losses. His taxable income for the tax year 2014–15 is ￡31,500.Assuming entrepreneur’s relief is claimed, what is Christos’ liability to capital gains tax arising for the tax year 2014-15?

A ￡14,850 B ￡15,950 C ￡17,600 D ￡26,730

题型: 单选题 提问时间: 2021-08-24

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8 .Lapis Ltd commenced trading on 1 February 2013 and had the following periods of account:1 February 2013 to 31 July 20141 August 2014 to 30 April 2015The business was not successful and Lapis ceased to trade on 30 April 2015.What is the last day of Lapis Ltd’s first corporation tax accounting period?

A 31 July 2013 B 31 January 2014 C 30 April 2014 D 31 July 2014

题型: 单选题 提问时间: 2021-08-24

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9 .Morganite Ltd has taxable total profits of ￡930,000 and a dividend received of ￡27,000 for the six months ended 31 December 2014. It has no associated companies.What amount of corporation tax is payable by Morganite Ltd for the six months ended 31 December 2014?

A ￡186,000 B ￡195,300 C ￡195,750 D ￡201,600

题型: 单选题 提问时间: 2021-08-24

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10 .Warovski Ltd has taxable total profits of ￡230,000 for the year ended 31 March 2015. 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 No effect; Increase B Decrease; No effect C Increase; Decrease D Decrease ; Increase

题型: 单选题 提问时间: 2021-08-24

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