题目
pension contributions. In November 2007 she inherited her mother’s house in the country of Kalania.
The following information has been extracted from client files and from telephone conversations with Coral.
Coral:
– 1972 – Born in the country of Kalania. Her father, who died in 2002, was domiciled in Kalania.
– 1999 – Moved to the UK and has lived and worked here since then.
– 2001 – 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 2012.
– No income apart from that received from Reef Ltd.
Reef Ltd:
– A UK resident company with annual profits chargeable to corporation tax of approximately £70,000.
– Four employees including Coral.
– Provides scuba diving lessons to members of the public.
Payments from Reef Ltd to Coral in 2007/08:
– Director’s fees of £460 per month.
– Dividends paid of £14,250 in June 2007 and £14,250 in September 2007.
Pension contributions:
– Coral has not so far made any pension contributions in the tax year 2007/08 but wishes to make gross pension
contributions of £9,000.
– The contributions are to be made by Reef Ltd or Coral or a combination of the two in such a way as to minimise
the total after tax cost.
– Any contributions made by Coral will be funded by an additional dividend from Reef Ltd.
House in the country of Kalania:
– Beachfront property with potential rental income of £550 per month after deduction of allowable expenditure.
– Coral will use it for holidays for two months each year.
The tax system in the country of Kalania:
– No capital gains tax or inheritance tax.
– Income tax at 8% on income arising in the country of Kalania.
– No double tax treaty with the UK.
Required:
(a) With the objective of minimising the total after tax cost, advise Coral as to whether the gross pension
contributions of £9,000 should be made:
– wholly by Reef Ltd; or
– by Coral to the extent that they are tax allowable with the balance made by Reef Ltd.
Your answer should include supporting calculations where necessary. (9 marks)
第2题
The owner's equity in a business comes from two sources: ______. (1) Investment by the owner (2) Notes receivable (3) Earnings from profitable operation of business (4) Accounts receivable
A.(2) and (4)
B.(1) and (3)
C.(1) and (2)
D.(3) and (4)
第6题
The chart symbol indicating that the bottom is coral is ______.
A.C
B.Cl
C.Co
D.c
第7题
第8题
(b) (i) Explain, by reference to Coral’s residence, ordinary residence and domicile position, how the rental
income arising in respect of the property in the country of Kalania will be taxed in the UK in the tax year
2007/08. State the strategy that Coral should adopt in order to minimise the total income tax suffered
on the rental income. (7 marks)
第9题
The(1)means that the shipowner promises to carry on board a specific ship a particular cargo for a single or several voyages from one or more loading ports to one or more discharging ports. The payment paid by the charterer to the ship owner for cargo transport by sea is called(2)and the contact made by ship owner and charterer is called a voyage charter party. Under a voyage charter party, the actual operation of the vessel is left to the(3)There are the provision for the(4), demurrage and dispatch money etc. , in the voyage charter. There are more standard forms of voyage charter parties than any other form of contract of carriage.(5)is the most popular and widely used general purpose voyage charter party on a global basis for numerous types of cargoes.
第10题
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