Lam Ltd commenced trading on 1 February 2018 and prepared its first accounts for the 18-month period to 31 July 2019. On what date did Lam Ltd's first corporation tax accounting period end?

1 .Cameron died on 1 September 2019. He had made one gift during his lifetime on 14 June 2014 of ￡350,000 to his daughter on her marriage.How much inheritance tax (IHT) is payable in respect of this gift?

A ￡5,600 B ￡4,000 C ￡3,200 D ￡2,240

题型: 单选题 提问时间: 2021-08-25

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2 .Until what date must John retain his records for his 2019/20 tax return?

A 31 January 2022 B 5 April 2022 C 31 January 2026 D 5 April 2026

题型: 单选题 提问时间: 2021-08-25

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3 .Samantha gave ￡5,000 to her son on 4 November 2018. This was her first lifetime gift. Samantha then created a trust for the benefit of her son and his children on 6 June 2019 and gave quoted shares and cash valued at ￡400,000 to the trust. She agreed to pay the inheritance tax due on the gift.What is the lifetime tax payable by Samantha on her gift to the trust?

A ￡17,250 B ￡17,750 C ￡18,000 D ￡14,400

题型: 单选题 提问时间: 2021-08-25

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4 .Wayne and Melanie were married for many years until Melanie's death on 4 August 2018. Melanie's death estate was valued at ￡600,000 and in her will she left ￡150,000 to their daughter, Diane, and the remainder of her estate to Wayne. She had made no lifetime transfers. Wayne died on 19 April 2019. His death estate was valued at ￡900,000. Wayne left his estate to Diane. He had made a potentially exempt transfer (after all exemptions) of ￡85,000 in August 2017. The nil rate band in 2018/19 was ￡325,000. What is the maximum nil rate band on Wayne's death?

A ￡565,000 B ￡415,000 C ￡650,000 D ￡500,000

题型: 单选题 提问时间: 2021-08-25

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5 .Matilda gave cash to a trust on 17 May 2019. She died on 13 September 2019. Lifetime inheritance tax was payable on the gift and additional inheritance tax payable on the gift as a result of her death.(1)Lifetime tax (2)Additional tax on death

A (1)31 March 2020; (2)30 April 2020 B (1)30 April 2020; (2)31 January 2020 C (1)30 April 2020; (2)31 March 2020 D (1)31 January 2020; (2)31 March 2020

题型: 单选题 提问时间: 2021-08-25

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7 .Ink plc prepares accounts to 31 March each year. It invested ￡100,000 in loan stock on 1 September 2019. Ink plc incurred investment brokers commission of ￡450 when acquiring the loan stock. Ink plc received interest from the loan stock of ￡1,200 on 31 December 2019 and ￡1,800 on 30 June 2020. Interest accrues evenly. What is Ink plc's non-trading loan relationship credit for the year ended 31 March 2020?

A ￡1,650 B ￡750 C ￡2,100 D ￡1,200

题型: 单选题 提问时间: 2021-08-25

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8 .Alex Ltd had a tax written down value (TWDV) of ￡15,600 on its main pool on 1 July 2019. During the 9-month period to 31 March 2020 the company purchased a machine for ￡802,500. What are the maximum capital allowances for the nine months to 31 March 2020?

A ￡804,606 B ￡750,000 C ￡759,194 D ￡805,308

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9 .Scorpio plc charged the following items in arriving at its net profits for the year ended 31 March 2020: ￡      Amount written off inventory to reduce to net realisable value  4,600 Interest on late payment of corporation tax 16,456 What is the amount which should be disallowed when calculating Scorpio plc's trade profits for the year ended 31 March 2020?

A ￡0 B ￡4,600 C ￡16,456 D ￡21,056

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10 .Dean Ltd is incorporated in the UK, its central management and control is undertaken outside the UK and it trades outside the UK. Edgar Ltd is not incorporated in the UK, its central management and control is undertaken in the UK and it trades outside the UK. Frank Ltd is not incorporated in the UK, its central management and control is undertaken outside the UK and it trades in the UK. Which of the companies are resident in the UK for corporation tax purposes?

A Dean Ltd B Edgar Ltd C Frank Ltd

题型: 多选题 提问时间: 2021-08-25

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