(ii) Calculate the chargeable gain arising as a consequence of Jan accepting Jumper’s offer. (4 marks)
(ii) Calculate the chargeable gain arising as a consequence of Jan accepting Jumper’s offer. (4 marks)
相关考题：
(b) Assuming that Thai Curry Ltd claims relief for its trading loss against total profits under s.393A ICTA 1988,calculate the company’s corporation tax liability for the year ended 30 September 2005. (10 marks)
(ii) Using the previous overhead allocation basis (as per note 4), calculate the budgeted profit/(loss)attributable to each type of service for the year ending 31 December 2006 and comment on the resultsobtained using the previous and revised methods of overhead allocation. (5 marks)
(c) Identify TWO QUALITATIVE benefits that might arise as a consequence of the investment in a new IT systemand explain how you would attempt to assess them. (4 marks)
(ii) Calculate the minimum target contribution to sales ratio (%) at which ‘Nellie the Elephant’ will befinancially viable, assuming that all other data remain unchanged. (4 marks)
(ii) Calculate her income tax (IT) and national insurance (NIC) payable for the year of assessment 2006/07.(4 marks)
(b) Donald actually decided to operate as a sole trader. The first year’s results of his business were not as he hadhoped, and he made a trading loss of ￡8,000 in the year to 31 March 2007. However, trading is now improving,and Donald has sufficient orders to ensure that the business will make profits of at least ￡30,000 in the year to31 March 2008.In order to raise funds to support his business over the last 15 months, Donald has sold a painting which wasgiven to him on the death of his grandmother in January 1998. The probate value of the painting was ￡3,200,and Donald sold it for ￡8,084 (after deduction of 6% commission costs) in November 2006.He also sold other assets in the year of assessment 2006/07, realising further chargeable gains of ￡8,775 (afterindexation of ￡249 and taper relief of ￡975).Required:(i) Calculate the chargeable gain on the disposal of the painting in November 2006. (4 marks)
(b) (i) Calculate the inheritance tax (IHT) that will be payable if Debbie were to die today (8 June 2005).Assume that no tax planning measures are taken and that there has been no change in the value of anyof the assets since David’s death. (4 marks)
(b) Calculate the taxable benefit in 2005/06 if Jan were to use the accommodation offered by his employer. Youmay assume that the rules for calculating benefits are the same as in 2004/05. (3 marks)
(ii) Explain the income tax (IT), national insurance (NIC) and capital gains tax (CGT) implications arising onthe grant to and exercise by an employee of an option to buy shares in an unapproved share optionscheme and on the subsequent sale of these shares. State clearly how these would apply in Henry’scase. (8 marks)
(ii) List the additional information required in order to calculate the employment income benefit in respectof the provision of the furnished flat for 2007/08 and advise Benny of the potential income taximplications of requesting a more centrally located flat in accordance with the company’s offer.(4 marks)
(b) Calculate the inheritance tax (IHT) liability arising as a result of Christopher’s death. (11 marks)
(ii) Calculate Paul’s tax liability if he exercises the share options in Memphis plc and subsequently sells theshares in Memphis plc immediately, as proposed, and show how he may reduce this tax liability.(4 marks)
(ii) Assuming the new structure is implemented with effect from 1 August 2006, calculate the level ofmanagement charge that should be made by Bold plc to Linden Limited for the year ended 31 July2007, so as to minimise the group’s overall corporation tax (CT) liability for that year. (2 marks)
(ii) Calculate the corporation tax (CT) payable by Tay Limited for the year ended 31 March 2006, takingadvantage of all available reliefs. (3 marks)
(ii) Advise Andrew of the tax implications arising from the disposal of the 7% Government Stock, clearlyidentifying the tax year in which any liability will arise and how it will be paid. (3 marks)
(b) Calculate Alvaro Pelorus’s capital gains tax liability for the tax year 2006/07 on the assumption that allavailable reliefs are claimed. (8 marks)
(c) Calculate and explain the amount of income tax relief that Gerard will obtain in respect of the pensioncontributions he proposes to make in the tax year 2007/08 and contrast this with how his position could beimproved by delaying some of the contributions that he could have made in 2007/08 until 2008/09. Youshould include relevant supporting calculations and quantify the additional tax savings arising as a result ofyour advice.You should ignore the proposed changes to the bonus scheme for this part of this question and assume thatGerard’s income will not change in 2008/09. (12 marks)
2 Assume that today’s date is 1 July 2005.Jan is aged 45 and single. He is of Danish domicile but has been working in the United Kingdom since 1 May 2004and intends to remain in the UK for the medium to long term. Although Jan worked briefly in the UK in 1986, hehas forgotten how UK taxation works and needs some assistance before preparing his UK income tax return.Jan’s salary from 1 May 2004 was ￡74,760 per annum. Jan also has a company car – a Jaguar XJ8 with a list priceof ￡42,550 including extras, and CO2 emissions of 242g/km. The car was available to him from 1 July 2004. Freepetrol is provided by the company. Jan has other taxable benefits amounting to ￡3,965.Jan’s other 2004/05 income comprises:￡Dividend income from UK companies (cash received) 3,240Interest received on an ISA account 230Interest received on a UK bank account 740Interest remitted from an offshore account (net of 15% withholding tax) 5,100Income remitted from a villa in Portugal (net of 45% withholding tax) 4,598The total interest arising on the offshore account was ￡9,000 (gross). In addition, Jan has not remitted otherPortuguese rental income arising in the year, totalling a further ￡1,500 (gross).Jan informs you that his employer is thinking of providing him with rented accommodation while he looks for a houseto buy. The accommodation would be a two bedroom flat, valued at ￡155,000 with an annual value of ￡6,000. Itwould be made available from 6 August 2005. The company will pay the rent of ￡600 per month for the first sixmonths. All other bills will be paid by Jan.Jan also informs you that he has 25,000 ordinary shares in Gilet Ltd (‘Gilet’), an unquoted UK trading company. Hehas held these shares since August 1986 when he bought 2,500 shares at ￡4.07 per share. In January 1994, abonus issue gave each shareholder nine shares for each ordinary share held. In the last week all Gilet’s shareholdershave received an offer from Jumper plc (‘Jumper’) who wishes to acquire the shares. Jumper has offered the following:– 3 shares in Jumper (currently trading at ￡3.55 per share) for every 5 shares in Gilet, and– 25p cash per shareRequired:(a) Calculate Jan’s 2004/05 income tax (IT) payable. (11 marks)
If there is any fine arising from inadequacy of marks，______ shall be liable for it．A.the CarrierB.the OwnerC.the CaptainD.the Merchant