Which of the following expense items are deductible in arriving at the trading income of a company?(1) Employer’s national insurance contributions(2) Gift of a ￡15 bottle of wine to a customer(3) Interest on overdue corporation tax(4) Replacement of roof tiles on the company’s head office building

1 .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?

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 .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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3 .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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4 .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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5 .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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7 .Which of the following items are treated as income or expense on non-trading loan relationships for Brilliant Ltd?(1) Bank overdraft interest(2) Finance lease interest payable on the purchase of a company car for Brilliant Ltd’s sales manager(3) Interest payable on a loan to purchase an investment property(4) Interest payable on a loan to purchase shares in Dim Ltd, another trading company

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

题型: 单选题 提问时间: 2021-08-24

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8 .Cubic Ltd has taxable total profits of ￡277,655 for the year ended 31 December 2014. During October 2014 it received dividends from companies of ￡94,000 of which ￡13,000 was received from a 70% subsidiary.What is the amount of Cubic Ltd’s augmented profits for the year ended 31 December 2014?

A ￡358,655 B ￡367,655 C ￡369,099 D ￡382,099

题型: 单选题 提问时间: 2021-08-24

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9 .In the year ended 31 July 2015, 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 2015 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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10 .Rubelite Ltd has taxable total profits of ￡1,125,000for the nine-month period ended 31 March 2015. The company received no franked investment income during the period.What is the amount of corporation tax payable by Rubelite Ltd for the period ended 31 March 2015?

A ￡216,023 B ￡214,830 C ￡214,575 D ￡204,855

题型: 单选题 提问时间: 2021-08-24

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