试卷详情
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P6高级税务-5
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[多项选择]You have recently been approached to act as an accountant for Styrax, aged 32, who is self-employed.
The following information has been extracted from client files and from meetings with Styrax. You should assume
that today’s date is 15 March 2012.
Styrax:
· Annual trading profits have been fairly constant at approximately £20,000 for the last few years.
· Has building society savings amounting to around £12,000 which generate gross annual interest of
approximately £400.
· Wife, Salvia, is aged 28, is expecting their first child and has recently given up employed work.
· The couple has no other sources of income.
· Disposable income is about £3,000 pa after paying their mortgage and living expenses.
Investment strategy:
· Neither Styrax nor his wife have made, and for the present do not wish to start making, any pension
provision.
· Risk averse.
Stryax’s brother,
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[多项选择]Faure expects her new business to make a loss in its first trading period. She requires advice on the choice of year
end, on the difference between employing her husband in the business, and running the business as a partnership.
The following information has been obtained from discussions with Faure.
Faure:
- Is 44 years old and married to Ravel.
- Has not had an income tax liability since the tax year 2003/04.
- Intends to start a new business on 1 July 2012 under the trading name ’Bah-Tock’.
- ’Bah-Tock’ will be Faure’s only source of income.
The ’Bah-Tock’ business:
- Is expected to make a loss throughout the first 12 months of trading.
- Is expected to be profitable from 1 July 2013 onwards.
Structure of the ’Bah-Tock’ business:
- The business will be unincorporated.
- Faure and Ravel will both work full-time on the affairs of the business.
- Faure will
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[多项选择]Coral is the owner and managing director of Reef Ltd. She is considering the manner in which she will make her
first pension contributions. In November 2012 she inherited her mother’s house in the country of Kaiania, which is
outside the European Economic Area (EEA).
The following information has been extracted from client files and from telephone conversations with Coral.
Coral:
· 1975 - Born in the country of Kalania. Her father, who died in 2006, was domiciled in Kalania.
· 2004 - Moved to the UK and has lived and worked here since then.
· 2005 - Subscribed for 100% of the ordinary share capital of Reef Ltd.
· Intends to sell Reef Ltd and return to live in the country of Kalania in 2017.
· No income apart from that received from Reef Ltd.
Reef Ltd:
· AUK resident company with annual taxable total profits of approximately £350,000.
· Fourteen employees including Coral.
· Provide