(iii) The extent to which Amy will be subject to i - 考试试题及答案解析 - 读趣百科
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解答题

(iii) The extent to which Amy will be subject to income tax in the UK on her earnings in respect of duties

performed for Cutlass Inc and the travel costs paid for by that company. (5 marks)

Appropriateness of format and presentation of the report and the effectiveness with which its advice is

communicated. (2 marks)

Note:

You should assume that the income tax rates and allowances for the tax year 2006/07 and the corporation tax

rates and allowances for the financial year 2006 apply throughout this questio

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题目答案

(iii) Amy’s UK income tax positionAmy will remain UK resident and ordinarily resident as she is not leaving the UK permanently or for a complete tax yearunder a full time contract of employment. Accordingly, she will continue to be subject to UK tax on he

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22 人喜欢·2021-03-26
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解答题

(d) Advise Trent Limited of the consequences arising from the submission of the incorrect value added tax (VAT)

return, assuming that the company has previously had a good compliance record with regard to accounting

for VAT. (6 marks)

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题目答案

(d) Default surchargeAlthough the VAT return was submitted on time (i.e. within one month of the end of the tax period), part of the quarterly VATliability has not yet been paid. As a result this payment will be made late and a surcharge liability notice

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43 人喜欢·2021-03-27
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解答题

(ii) Assuming the new structure is implemented with effect from 1 August 2006, calculate the level of

management charge that should be made by Bold plc to Linden Limited for the year ended 31 July

2007, so as to minimise the group’s overall corporation tax (CT) liability for that year. (2 marks)

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题目答案

(ii) For the year ended 31 July 2007, there will be two associated companies in the group. Bold plc will count as anassociated company as it is not dormant throughout the period in question. As a result, the corporation tax limits will bedivided by two (i

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34 人喜欢·2021-06-16
纠错详情重做
解答题

(ii) Advise Mr Fencer of the income tax implications of the proposed financing arrangements. (2 marks)

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题目答案

(ii) The income tax implications of the proposed financing arrangementsMr Fencer has borrowed money from a UK bank in order to make a loan to Rapier Ltd, a close company. The interestpaid by Mr Fencer to the bank will be an allowable charge on income as l

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42 人喜欢·2021-07-19
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解答题

(ii) Advise Andrew of the tax implications arising from the disposal of the 7% Government Stock, clearly

identifying the tax year in which any liability will arise and how it will be paid. (3 marks)

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题目答案

(ii) Government stock is an exempt asset for the purposes of capital gains tax, however, as Andrew’s holding has a nominalvalue in excess of ￡5,000, a charge to income tax will arise under the accrued income scheme. This charge to incometax will arise in

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53 人喜欢·2021-05-06
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解答题

(iii) State the value added tax (VAT) and stamp duty (SD) issues arising as a result of inserting Bold plc as

a holding company and identify any planning actions that can be taken to defer or minimise these tax

costs. (4 marks)

You should assume that the corporation tax rates for the financial year 2005 and the income tax rates

and allowances for the tax year 2005/06 apply throughout this question.

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题目答案

(iii) Bold plc will be making a taxable supply of services, likely to exceed the VAT threshold. It should therefore considerregistering for VAT – either immediately on a voluntary basis, or when its cumulative taxable supplies in the previoustwelve months

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26 人喜欢·2023-06-05
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