Cranky Ltd owns 100% of the ordinary share capital of Mither Ltd. Both companies make up their accounts to 31 December. On 20 July 2015 Mither Ltd sold a factory building which resulted in a chargeable gain. On 27 December 2015 Cranky Ltd sold an office building that resulted in a capital loss.By what date must Cranky Ltd and Mither Ltd make an election if they want their respective capital loss and chargeable gain to be matched?

1 .Xiao Ltd has the following results for the two accounting periods to 31 March 2016: 9 months to 31 March 2015 Year to 31 March 2016 ￡ ￡ Trading profit/(loss) 21,900 (24,800) Chargeable gains 3,500 6,600 Assuming that Xiao Ltd makes all possible claims to relieve the trading loss against total profits, what is the total taxable profit for the nine months to 31 March 2015?

A Nil B ￡7,200 C ￡11,750 D ￡21,900

题型: 单选题 提问时间: 2021-08-24

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2 .Zing Ltd made a trading profit in the year to 30 June 2014 and again for the nine months to 31 March 2015. It made a trading loss in the year to 31 March 2016.The company made all possible claims to relieve the trading loss against total profits and a repayment of corporation tax became due for the year to 30 June 2014.From what date will interest on the repayment of corporation tax for the year to 30 June 2014 accrue?

A 31 January 2015 B 1 April 2015 C 1 January 2016 D 1 January 2017

题型: 单选题 提问时间: 2021-08-24

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3 .Sunny Ltd has had the following results: Period Trading Profit/(loss) ￡ Year ended 31 December 2015 (120,000) Five-month period ended 31 December 2014 47,000 Year ended 31 July 2014 90,000 The company does not have any other income.How much of Sunny Ltd’s trading loss for the year ended 31 December 2015 can be relieved against its total profits of ￡90,000 for the year ended 31 July 2014?

A ￡52,500 B ￡70,000 C ￡73,000 D ￡90,000

题型: 单选题 提问时间: 2021-08-24

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4 .Ten Ltd is the parent company for a group of companies. The group structure is as follows:Ten Ltd|90%|Twenty Ltd|75%|Thirty Ltd|70%|Forty LtdEach percentage holding represents a holding of ordinary share capital.What is the group relationship between Forty Ltd and Ten Ltd?

A They form a group for both group relief and chargeable gains purposes B They form a group for group relief purposes but not for chargeable gains purposes C They form a group for chargeable gains purposes but not for group relief purposes D They do not form a group for either group relief or charge...

题型: 单选题 提问时间: 2021-08-24

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5 .Grebe Ltd owns 100% of the ordinary share capital of Bird Ltd. For the year ended 31 March 2016 Grebe Ltd had taxable total profits of ￡225,000. For the nine-month period ended 31 December 2015 Bird Ltd had a trading loss of ￡145,000.How much of Blue Ltd’s trading loss can Green Ltd claim against its taxable total profits for the year ended 31 March 2015?

A ￡108,750 B ￡145,000 C ￡168,750 D ￡225,000

题型: 单选题 提问时间: 2021-08-24

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7 .On 1 August 2015 Amanda made a gift to a trust of ￡550,000 (after deducting available exemptions). Amanda will pay the inheritance tax arising from the gift. She has not made any previous lifetime gifts.What is Amanda’s lifetime inheritance tax liability in respect of the gift?

A ￡45,000 B ￡56,250 C ￡90,000 D ￡137,500

题型: 单选题 提问时间: 2021-08-24

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8 .Ben died on 14 February 2016. When his wife, Bella, died on 13 September 2008, only 35% of her nil rate band of ￡312,000 for the tax year 2008-09 was used.How much nil rate band may be claimed by Ben’s personal representatives against his estate?

A ￡325,000 B ￡527,800 C ￡536,250 D ￡637,000

题型: 单选题 提问时间: 2021-08-24

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9 .On 6 November 2015 Andre made a gift to a trust which resulted in a lifetime inheritance tax liability of ￡39,450.On what date is this liability due?

A 31 December 2016 B 30 April 2016 C 6 May 2016 D 31 May 2016

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10 .Benjamin died on 30 November 2015 leaving an estate valued at ￡890,000. Inheritance tax of ￡276,000 was paid in respect of the estate. Under the terms of his will, Benjamin left ￡260,000 to his wife, a specific legacy of ￡120,000 (free of tax) to his brother, and the residue of the estate to his grandchildren.What is the amount of inheritance received by Benjamin’s grandchildren?

A ￡614,000 B ￡510,000 C ￡354,000 D ￡234,000

题型: 单选题 提问时间: 2021-08-24

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