Alice is in business as a sole trader. On 13 May 2015, she sold a freehold warehouse for ￡184,000, and this resulted in a chargeable gain of ￡38,600. Alice purchased a replacement freehold warehouse on 20 May 2015 for ￡143,000.Where possible, Alice always makes a claim to roll over gains against the cost of replacement assets. Both buildings have been, or will be, used for business purposes by Alice.What is the base cost of the replacement warehouse for capital gains tax purposes?

1 .Jordan purchased ordinary shares in Birthday plc as follows: Date Number of shares Cost ￡ 31 July 1989 500 1,250 31 March 2016 1,500 4,400 10 April 2016 1,500 4,850 Jordan sold 500 shares on 15 May 2016 for ￡4,500. He made no further acquisitions of shares during 2016.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 2013, Fernando bought 2,400 ordinary shares in Party plc at a cost of ￡6,600. On 31 March 2014 the company made a 1 for 10 bonus issue. On 31 March 2016, 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 2015 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 2014 to 27 June 2017 B 27 June 2014 to 27 June 2018 C 27 June 2015 to 27 June 2018 D 27 June 2015 to 27 June 2019

题型: 单选题 提问时间: 2021-08-24

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4 .In February 1994, Ronald bought land and buildings for use in his trade for ￡155,000. In June 2015 the land and buildings were sold for ￡620,000. In September 2015 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 .Janice owned shares in her personal trading company, Navros Ltd, which had cost ￡23,700. In August 2015 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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7 .Lapis Ltd commenced trading on 1 February 2014 and had the following periods of account:1 February 2014 to 31 July 20151 August 2015 to 30 April 2016The business was not successful and Lapis ceased to trade on 30 April 2016.What is the last day of Lapis Ltd’s first corporation tax accounting period?

A 31 July 2014 B 31 January 2015 C 30 April 2015 D 31 July 2015

题型: 单选题 提问时间: 2021-08-24

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8 .Kew Ltd has the following trading results to 31 December:2013 Loss ￡(37,600)2014 Profit ￡19,500The trading loss of ￡37,600 is carried forward.The company also has bank interest receivable of ￡2,150 in 2014 and ￡3,200 in 2015.What is the amount of Kew Ltd’s taxable total profits for the year to 31 December 2015?

A Nil B ￡3,200 C ￡19,500 D ￡22,700

题型: 单选题 提问时间: 2021-08-24

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9 .Warovski Ltd has taxable total profits of ￡230,000 for the year ended 31 March 2016. 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 Donations：No effect; Debt recovery：Increase B Donations：Decrease; Debt recovery：No effect C Donations：Increase; Debt recovery：Decrease D Donations：Decrease ; Debt recovery：Increase

题型: 单选题 提问时间: 2021-08-24

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10 .Highway Ltd has the following results for the years to 31 March 2015 and 31 March 2016: 2015 2016 ￡ ￡ Adjusted trading profit/(loss) 72,000 (90,000) Property business profits 9,000 8,100 Chargeable gains 8,100 2,300 Qualifying charitable donations 1,800 1,800 The company makes all possible claims to relieve the trading loss against total profits.What is the amount of total taxable profits for the year to 31 March 2015?

A ￡7,700 B ￡9,500 C ￡87,300 D ￡89,100

题型: 单选题 提问时间: 2021-08-24

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