Which of the following statements concerning VAT registration of Sug, a trader, are correct?(1) He can register voluntarily if he makes only exempt supplies(2) He can register voluntarily if he makes only zero-rated supplies(3) If he makes both zero-rated and standard-rated supplies he must register only if taxable supplies exceed the VAT registration limit(4) If he makes exempt supplies he must register if these supplies exceed the VAT registration limit

1 .Landsend Ltd is subject to corporation tax at the marginal rate. It estimated its corporation tax liability for the year ended 31 December 2013 to be ￡90,000 and paid this on 1 November 2014. After filing the company’s return, the corporation tax liability was amended to ￡102,000. The company paid the ￡12,000 further tax due on 31 January 2015.How much is the interest on late paid tax?

A ￡90 B ￡120 C ￡225 D ￡345

题型: 单选题 提问时间: 2021-08-24

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2 .Andre’s income tax liability of ￡12,000 which was due for payment on 31 January 2015 was not paid until 31 March 2015.How much interest will Andre be charged by HM Revenue and Customs in respect of the late payment of this income tax liability?

A ￡30 B ￡60 C ￡65 D ￡360

题型: 单选题 提问时间: 2021-08-24

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3 .Esther, a higher-rate taxpayer, submitted her tax return for the tax year 2014–15 on 1 December 2015. She had omitted to include rental income of ￡18,000 because she did not want to disclose this source of income to HM Revenue and Customs (HMRC).In response to HMRC’s enquiries into her return Ethel made full disclosure of the rental income.What is the minimum amount of penalty that HMRC could charge Esther for her misdeclaration?

A ￡1,260 B ￡2,520 C ￡5,040 D ￡4,500

题型: 单选题 提问时间: 2021-08-24

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4 .Carmen commenced trading on 1 January 2014 and her profit for the year ended 31 December 2014 was ￡56,000. She has not contacted HM Revenue and Customs (HMRC) to advise that she has commenced to trade and has never been issued with nor completed a self-assessment return.What is the latest date by which Carmen should have notified HMRC of her new business?

A 31 January 2014 B 5 October 2014 C 31 January 2015 D 5 October 2015

题型: 单选题 提问时间: 2021-08-24

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5 .Which of the following statements concerning the appeals procedure is correct?(1) A taxpayer can appeal against a determination and apply for postponement of payment(2) The taxpayer must first apply for an internal review before making an appeal to the First-tier Tribunal(3) A taxpayer can appeal against and apply to postpone the tax due under an assessment raised as a result of an enquiry into a tax return

A 1 only B 2 only C 3 only D None of these statements

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7 .Emerald commenced business as a sole trader on 1 March 2014 making only taxable supplies. Her turnover in the first 15 months of trade was as follows:1 March 2014 to 30 September 2014: ￡7,150 per monthOctober and November 2014: ￡10,500 per monthFrom December 2014 onwards: ￡11,000 per monthBy what date should Emerald have notified HM Revenue and Customs that she was required to become VAT registered in order to avoid a penalty for late registration?

A 1 March 2014 B 30 November 2014 C 31 December 2014 D 31 January 2015

题型: 单选题 提问时间: 2021-08-24

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8 .Barbara is registered for VAT and is preparing her VAT return for the three-month period ended 31 March 2015 Barbara incurred input tax related to the zero-rated supplies of ￡1,338 and input tax related to the standard-rated supplies of ￡600.What amount of input VAT should Barbar account for on her VAT return for the three months ended 31 March 2015?

A ￡600 B ￡738 C ￡1,338 D ￡1,938

题型: 单选题 提问时间: 2021-08-24

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9 .Smoky Ltd is a VAT registered company that only makes standard-rated supplies. The company incurred the following VAT-inclusive costs:(1) ￡13,600 for the purchase equipment. The VAT invoice was inadvertently destroyed and cannot be replaced.(2) Purchase of a new car for the marketing manager for ￡18,500. The car is used 70% for business purposes.To what extent can Smoky Ltd recover the input tax on each of these costs?

A Equipment Irrecoverable; New car Irrecoverable B Equipment Irrecoverable; New car Partially recoverable C Equipment Fully recoverable; New car Irrecoverable D Equipment Fully recoverable; New car Partially recoverable

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10 .Charlie is a VAT registered trader making only standard-rated supplies. He received an order from a customer on 19 May 2015 enclosing a payment of ￡2,250 which represented a 15% deposit (including VAT).Charlie dispatched the goods on 19 May and issued an invoice for the full amount of ￡11,500 on 1 June. The balancing payment of ￡10,350 was received on 13 July.Charlie does not operate the cash accounting scheme.What amounts of output tax must be accounted for in the VAT returns for the quarters to 31 May and 31 August 2105?

A Quarter to 31 May ￡0; Quarter to 31 August ￡2,500 B Quarter to 31 May ￡375; Quarter to 31 August ￡2,125 C Quarter to 31 May ￡2,250; Quarter to 31 August ￡250 D Quarter to 31 May ￡2,500; Quarter to 31 August ￡0

题型: 单选题 提问时间: 2021-08-24

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