For the tax year 2015–16 Samantha has chargeable gains of ￡23,100. She has unused capital losses of ￡25,700 brought forward from the tax year 2014–15.What amount of unused capital losses can Samantha carry forward to the tax year 2016–17?

1 .Jade has calculated her taxable gains for the tax year 2015–16 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 racehorse 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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2 .In March 2002, Morgan purchased the freehold of an office building for ￡642,000. Morgan sold the building in March 2016 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 2015–16 and his taxable income in the tax year 2015–16 was ￡37,495.What is Matthew’s capital gains tax liability for the tax year 2015–16?

A ￡85,860 B ￡133,560 C ￡136,668 D ￡167,160

题型: 单选题 提问时间: 2021-08-24

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3 .Jet Ltd realised the following gains and losses on the disposal of assets during the year ended 31 March 2016:(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 2016?

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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4 .Alexandrite Ltd bought a factory on 12 February 2002 for ￡156,000. At acquisition, professional fees incurred in acquiring the factory were ￡4,500. In May 2007 an extension was added to the factory at a cost of ￡32,000.In October 2015 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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5 .Desperado Ltd sold a warehouse on 7 June 2016 for ￡315,000. The factory was purchased on 22 January 1999 for ￡154,000. Retail price indices are 163.4 for January 1999 and 256.7 for June 2016.What is Dash Ltd’s chargeable gain on the disposal of the factory?

A ￡73,066 B ￡91,931 C ￡94,934 D ￡161,000

题型: 单选题 提问时间: 2021-08-24

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7 .For the tax year 2015–16, Nog has a chargeable gain of ￡23,700 and a capital loss of ￡10,400. She has unused capital losses of ￡6,100 brought forward from the tax year 2014–15.What amount of capital losses can Nog carry forward to the tax year 2016–17?

A ￡3,900 B Nil C ￡6,100 D ￡2,200

题型: 单选题 提问时间: 2021-08-24

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8 .Which of the following statements is/are correct?(1) An individual is subject to capital gains tax on the disposal of chargeable assets during any tax year in which they are resident in the UK(2) A company is subject to corporation tax on gains from the disposal of chargeable assets if it is resident in the UK(3) The disposal of a chargeable asset between civil partners is an exempt disposal(4) The transfer of chargeable assets between companies in a chargeable gains group is automatically treated as an exempt disposal

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

题型: 单选题 提问时间: 2021-08-24

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9 .Vicki Ltd has chargeable gains in the current period of ￡26,000, capital losses in the current period of ￡20,000, brought forward capital losses of ￡10,000, and current period trading profits of ￡45,000.What is the taxable total profits of Vicki Ltd upon which corporation tax will be charged?

A ￡71,000 B ￡51,000 C ￡45,000 D ￡41,000

题型: 单选题 提问时间: 2021-08-24

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10 .Which of the following statements is/are correct?(1) When a limited company has a capital loss, it is first set off against any chargeable gains arising in the same accounting period(2) Any remaining capital loss may be set against other income of the accounting period(3) Any capital loss unutilised in the accounting period is then carried forward and set off against the first available chargeable gains of future accounting periods(4) Any capital loss unutilised in the accounting period may be carried back and set off against the chargeable gains of the immediately preceding accounting period

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

题型: 单选题 提问时间: 2021-08-24

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