Darek’s business has a trading loss. As no specific claims have been made to relieve the loss it is being carried forward automatically.What can the loss be set against?

1 .The written down values brought forward on Deborah’smain pool of assets at 6 April 2014 was ￡32,000. The balance on the special rate pool at 6 April2014 was ￡15,000.During the year to 5 April 2015, Deborah spent ￡7,000 on equipment and sold main pool plant for ￡6,000 (originalcost ￡8,000).What is the maximum amount of capital allowances which Deborah can claim for the year to 5 April 2015?

A ￡7,140 B ￡11,680 C ￡12,520 D ￡12,880

题型: 单选题 提问时间: 2021-08-24

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2 .The written down value brought forward on Pedro’smain pool of assets at 6 April 2014 was￡300,000. There was no balance on the special rate pool.During the year to 5 April 2015, Pedro purchased items of plant and equipment for ￡150,000 and spent ￡550,000 on the installation of a cooling system as an integral feature of the factory.What is the maximum amount of capital allowances which Pedro can claim for the year to 5 April 2015?

A ￡531,000 B ￡570,000 C ￡585,000 D ￡590,000

题型: 单选题 提问时间: 2021-08-24

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3 .Coral Ltd purchased the following new cars during the year ended 31 March 2015: ￡ Car with CO2 emissions of 120 grams per kilometre 24,000 Car with CO2 emissions of 95 grams per kilometre 13,500 The car with CO2 emissions of 120 grams per kilometre is used 25% for business purposes by the managing director.What is the maximum total capital allowances available to Coral Ltd on the cars for the year ended 31 March 2015?

A ￡3,510 B ￡6,750 C ￡14,080 D ￡17,820

题型: 单选题 提问时间: 2021-08-24

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4 .Verdite Ltd is registered for value added tax (VAT). It purchased a new car for a VAT inclusive price of ￡11,220 which included ￡225 breakdown insurance cover for one year. The car isused by the marketing manager for business and private use.What amount should be included in the capital allowance computation as the acquisition cost of this vehicle?

A ￡11,220 B ￡10,995 C ￡9,350 D ￡9,163

题型: 单选题 提问时间: 2021-08-24

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5 .Frank has been trading for many years. His recent adjusted trading results are as follows: ￡ Year to 31 March 2013 Loss (17,500) Year to 31 March 2014 Profit 8,250 Year to 31 March 2015 Profit 11,150 The loss is notbeing relieved against other income or chargeable gains.What is Frank’s assessable trading income for the year to 5 April 2015 ?

A ￡11,150 profit B ￡1,900 profit C ￡6,350 loss D Nil

题型: 单选题 提问时间: 2021-08-24

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7 .A claim to set a trading loss incurred in the tax year 2014–15 against total income must be made by what date?

A 5 April 2015 B 5 April 2016 C 31 January 2016 D 31 January 2017

题型: 单选题 提问时间: 2021-08-24

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8 .Aubrey has been in business for several years. His recent adjusted trading results are as follows: ￡ Year to 30 September 2013 Profit 14,900 Year to 30 September 2014 Loss (19,660) Aubrey has other income of ￡3,900 in the tax year 2013–14and ￡5,100 in the tax year 2014–15.He wishes to claim maximum loss relief as soon as possible.What is Aubrey’s total income for the tax year 2013–14(after loss reliefs but before deducting the personal allowance)?

A Nil B ￡3,900 C ￡14,900 D ￡18,800

题型: 单选题 提问时间: 2021-08-24

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9 .Which of the following statements about terminal lossrelief is/are correct?(1) Any remaining overlap profits arising from the commencement of trade is deducted from the loss for the last 12 months.(2) This relief is given against trading profits of the tax year of permanent discontinuance and the three preceding tax years on a LIFO basis.What amount should be included in the capital allowance computation as the acquisition cost of this vehicle?

A 1 only B 2 only C Both 1 and 2 D Neither 1 nor 2

题型: 单选题 提问时间: 2021-08-24

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10 .Vanessa and Josh have traded in partnership for several years, preparing accounts to 30 June each year. Phil was admitted to the partnership on 1 November 2014.What is the basis period for Vanessa’s share of the partnership profits for the tax year 2014–15?

A Year to 30 June 2014 B 1 July 2013 to 31 October 2014 C 1 November 2014 to 5 April 2015 D Year to 30 June 2015

题型: 单选题 提问时间: 2021-08-24

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