What was the chargeable gain arising on the takeover of Grey Ltd?

1 .R Ltd started trading on 1 December 2015 and prepared its first set of accounts to 31 March 2017.What will R Ltd’s accounting periods be for the period of account to 31 March 2017?

A 4 months to 31 March 2016, 12 months to 31 March 2017 B 4 months to 5 April 2016, nearly 12 months to 31 March 2017 C 12 months to 30 November 2016, 4 months to 31 March 2017 D 16 months to 31 March 2017

题型: 单选题 提问时间: 2021-08-24

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2 .X Ltd has included a deduction in its accounting profit of ￡3,200 in respect of the annual leasing cost for a car, which has a recommended list price of ￡16,000 and CO2 emissions of 140g/km. The lease of the car started on 1 April 2016 and the car has been used for the whole of the 12-month period ended 31 March 2017.When preparing the adjusted profit for tax purposes what is the allowable deduction in respect of the leasing cost in the year ended 31 March 2017?

A ￡Nil B ￡480 C ￡2,720 D ￡3,200

题型: 单选题 提问时间: 2021-08-24

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3 .K Ltd was incorporated and started trading on 1 July 2016 and prepared its first set of accounts to 31 December 2016. During the six-month accounting period to 31 December 2016, it purchased two vehicles: ￡ 28 November 2016 Motor car [1] (CO2 emissions 146g/km) 15,400 2 December 2016 Motor car [2] (CO2 emissions 111g/km) 30,400 Motor car [1] is used 20% for private purposes by a director of K Ltd.What are the capital allowances to which K Ltd is entitled for the period to 31 December 2016?

A ￡4,122 B ￡3,352 C ￡6,704 D ￡3,229

题型: 单选题 提问时间: 2021-08-24

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4 .L plc prepares accounts to 31 March each year. L plc sold its 2% holding of shares in S Ltd on 15 November 2016 for ￡30,000. L plc had purchased the S Ltd shares at a cost of ￡8,000 in May 2008. The RPI in May 2008 was 215.1 and in November 2016 is assumed to be 263.0. This was the only disposal of a chargeable asset during the year to 31 March 2017.What is L plc’s chargeable gain to be included in its calculation of total profits for the year to 31 March 2017?

A ￡22,000 B ￡20,219 C ￡17,101 D ￡9,119

题型: 单选题 提问时间: 2021-08-24

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5 .What is the base cost of the new warehouse purchased in March 2017?

A ￡162,000 B ￡155,000 C ￡144,000 D ￡140,000

题型: 单选题 提问时间: 2021-08-24

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7 .What was the chargeable gain (if any) arising on the disposal of the machinery?

A ￡Nil B ￡5,500 C ￡2,500 D ￡5,000

题型: 单选题 提问时间: 2021-08-24

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8 .What was the chargeable gain arising on the disposal of the plot of land?

A ￡16,520 B ￡15,872 C ￡16,108 D ￡15,548

题型: 单选题 提问时间: 2021-08-24

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9 .Which TWO of the following statements about the use of the capital loss in the year ended 31 March 2018 are correct?(1) The capital loss can be carried back against chargeable gains made in the year ended 31 March 2017(2) The capital loss can be set against chargeable gains made in the year ended 31 March 2018(3) The capital loss can be set against total profits in the year ended 31 March 2018(4) The capital loss can be carried forward and set against the first available chargeable gains

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

题型: 单选题 提问时间: 2021-08-24

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10 .What is the date by which Thai Curry Ltd’s self-assessment corporation tax return for the year ended 31 March 2017 should be submitted?

A 31 December 2017 B 31 January 2018 C 31 March 2018 D 31 July 2018

题型: 单选题 提问时间: 2021-08-24

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