题库·ACCA/CAT
财会类ACCA/CAT
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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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(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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(ii) Advise Mr Fencer of the income tax implications of the proposed financing arrangements. (2 marks)

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(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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(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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(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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(b) State the immediate tax implications of the proposed gift of the share portfolio to Avril and identify an

alternative strategy that would achieve Crusoe’s objectives whilst avoiding a possible tax liability in the

future. State any deadline(s) in connection with your proposed strategy. (5 marks)

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题目答案

(b) Gift of the share portfolio to AvrilInheritance taxThe gift would be a potentially exempt transfer at market value. No inheritance tax would be due at the time of the gift.Capital gains taxThe gift would be a disposal by Crusoe deemed to be made at ma

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(c) The inheritance tax payable by Adam in respect of the gift from his aunt. (4 marks)

Additional marks will be awarded for the appropriateness of the format and presentation of the memorandum and

the effectiveness with which the information is communicated. (2 marks)

Note: you should assume that the tax rates and allowances for the tax year 2006/07 will continue to apply for the

foreseeable future.

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题目答案

(c) Inheritance tax payable by AdamThe gift by AS’s aunt was a potentially exempt transfer. No tax will be due if she lives until 1 June 2014 (seven years afterthe date of the gift).The maximum possible liability, on the assumption that there are no annua

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(c) On the assumption that the administrators of Noland’s estate will sell quoted shares in order to fund the

inheritance tax due as a result of his death, calculate the value of the quoted shares that will be available to

transfer to Avril. You should include brief notes of your treatment of the house and the shares in Kurb Ltd.

(9 marks)

Note: you should assume that the tax rates and allowances for the tax year 2006/07 apply throughout this

question.

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题目答案

(c) Value of quoted shares that can be transferred to AvrilThe value of shares to be transferred to Avril will be equal to ￡370,000 less the inheritance tax due by the estate.IHT is payable on transfers in the seven years prior to Noland’s death and on th

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(b) The tax relief available in respect of the anticipated trading losses, together with supporting calculations and

a recommended structure for the business. (16 marks)

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题目答案

Aral Ltd owned by BandaThe losses would have to be carried forward and deducted from the trading profits of the year ending 30 June 2010.Aral Ltd cannot offset the loss in the current period or carry it back as it has no other income or gains.Aral Ltd own

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(c) Explanatory notes, together with relevant supporting calculations, in connection with the loan. (8 marks)

Additional marks will be awarded for the appropriateness of the format and presentation of the schedules, the

effectiveness with which the information is communicated and the extent to which the schedules are structured in

a logical manner. (3 marks)

Notes: – you should assume that the tax rates and allowances for the tax year 2006/07 and for the financial year

to 31 March 2007 apply throughout the question.

– you should ignore value added tax (VAT).

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题目答案

(c) Tax implications of there being a loan from Flores Ltd to BandaFlores Ltd should have paid tax to HMRC equal to 25% of the loan, i.e. ￡5,250. The tax should have been paid on thecompany’s normal due date for corporation tax in respect of the accountin

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(ii) The use of the trading loss of Tethys Ltd for the year ending 31 December 2008; (6 marks)

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题目答案

(ii) Tethys Ltd – Use of trading loss– The two companies will not be in a group relief group as Saturn Ltd will not own 75% of Tethys Ltd.– For a consortium to exist, 75% of the ordinary share capital of Tethys Ltd must be held by companies which eachhold

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(iii) Advice in connection with the sale of the manufacturing premises by Tethys Ltd; (7 marks)

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题目答案

(iii) Tethys Ltd – Sale of the manufacturing premisesValue added tax (VAT)– The building is not a new building (i.e. it is more than three years old). Accordingly, the sale of the building is anexempt supply and VAT should not be charged unless Tethys Ltd

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