Frank has been trading for many years. His recent adjusted trading results are as follows: ￡ Year to 31 March 2014 Loss (17,500) Year to 31 March 2015 Profit 8,250 Year to 31 March 2016 Profit 11,150 The loss is not being relieved against other income or chargeable gains.What is Frank’s assessable trading income for the tax year 2015–16?

1 .The written down values brought forward on Deborah’s main pool of assets at 6 April 2015 was ￡32,000. The balance on the special rate pool at 6 April 2015 was ￡15,000.During the year 2015–16, Deborah spent ￡7,000 on equipment and sold main pool plant for ￡6,000 (original cost ￡8,000).What is the maximum amount of capital allowances which Deborah can claim for the year 2015–16?

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’s main pool of assets at 6 April 2015 was ￡300,000. There was no balance on the special rate pool.During the year 2015–16, 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 a factory used in Pedro’s business.What is the maximum amount of capital allowances which Pedro can claim for the tax year 2015–16?

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 2016: ￡ Car with CO2 emissions of 120 grams per kilometre 24,000 Car with CO2 emissions of 75 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 2016?

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 is used 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 .Wan ceased trading on 31 December 2015, having been self-employed since 1 January 2003.On 1 January 2015, the tax written down value of her plant and machinery main pool was ￡6,200. On 10 November 2015, Wan purchased a computer for ￡1,600. All of the items included in the main pool were sold for ￡9,800 on 31 December 2015.What is the balancing charge which will arise upon the cessation of Wan’s trade?

A ￡4,716 B ￡3,404 C ￡2,000 D ￡3,600

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 2015–16 against total income must be made by what date?

A 5 April 2016 B 5 April 2017 C 31 January 2017 D 31 January 2018

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 2014 Profit 14,900 Year to 30 September 2015 Loss (19,660) Aubrey has other income of ￡3,900 in the tax year 2014–15 and ￡5,100 in the tax year 2015–16.He wishes to claim maximum loss relief as soon as possible.What is Aubrey’s total income for the tax year 2014–15 (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 loss relief 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.

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 .Naomi is self-employed. For the year ended 5 April 2016 she made a trading loss of ￡110,000, having made a trading profit of ￡24,000 for the year ended 5 April 2015. Naomi also had employment income of ￡92,000 for the tax year 2014–15.What is the maximum loss relief claim which Naomi can make against her total income for the tax year 2014–15?

A ￡74,000 B ￡50,000 C ￡110,000 D ￡29,000

题型: 单选题 提问时间: 2021-08-24

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