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James died on 22 January 2015. He had made the following gifts during his lifetime:(1) On

James died on 22 January 2015. He had made the following gifts during his lifetime:

(1) On 9 October 2007, a cash gift of £35,000 to a trust. No lifetime inheritance tax was payable in respect of this gift.

(2) On 14 May 2013, a cash gift of £420,000 to his daughter.

(3) On 2 August 2013, a gift of a property valued at £260,000 to a trust. No lifetime inheritance tax was payable in respect of this gift because it was covered by the nil rate band. By the time of James’ death on 22 January 2015, the property had increased in value to £310,000.

On 22 January 2015, James’ estate was valued at £870,000. Under the terms of his will, James left his entire estate to his children.

The nil rate band of James’ wife was fully utilised when she died ten years ago.

The nil rate band for the tax year 2007–08 is £300,000, and for the tax year 2013–14 it is £325,000.

Required:

(a) Calculate the inheritance tax which will be payable as a result of James’ death, and state who will be responsible for paying the tax. (6 marks)

(b) Explain why it might have been beneficial for inheritance tax purposes if James had left a portion of his estate to his grandchildren rather than to his children. (2 marks)

(c) Explain why it might be advantageous for inheritance tax purposes for a person to make lifetime gifts even when such gifts are made within seven years of death.

Notes:

1. Your answer should include a calculation of James’ inheritance tax saving from making the gift of property to the trust on 2 August 2013 rather than retaining the property until his death.

2. You are not expected to consider lifetime exemptions in this part of the question. (2 marks)

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更多“James died on 22 January 2015. He had made the following gifts during his lifetime:(1) On”相关的问题

第1题

After Queen Eizabeth I died,James Sturt()her and became James.

A.missed

B.mourned

C.sob

D.sobbed

E.succeeded

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第2题

When Queen Elizabeth I died in 1603, who was the next in line to the thrones of England and Ireland?

A.King Henry VIII of England

B.Queen Elizabeth II

C.King James VI of Scotland

D.King Charles I of England

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第3题

Ⅲ. Cloze (30 points) Directions: For each blank in the following passage, there are to

Ⅲ. Cloze (30 points)

Directions: For each blank in the following passage, there are tour choices marked A, B, C and D. Choose the one that is most suitable and mark your answer by blackening the corresponding letter on the Answer Sheet.

A new came as a surprise that an elderly woman died yesterday after (21) knocked down by a motorist who had made no (22) to brake (刹车) . A police officer asked the driver, a man of 69, to read the number-plate of a car parked (23) the opposite side of the road. The man said this was (24) , because it was foggy. In fact, it was a sunny day. After several attempts, even from a distance of two meters, the man (25) failed to read the number-plate (26) He said he had never needed (27) , though he had been (28) in a similar accident 29 .

The question of fitness to (30) comes (31) every time some medical condition relates to an accident like this. Last week two motorists died (32) blackouts (瞬间昏厥) at the wheel, With these (33) in mind, it is not surprising that accident prevention organizations are trying to (34) the government to introduce stricter controls over (35) so that both drivers and people on the road will enjoy safety.

21. A. being

B. be

C. had

D. has

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第4题

完型填空Nowhere 21 seen a more untidy office than my friend Jame’s.Everywhere there ar
e papers and books.Not only 22 never to be cleaned out, but also I do not think it is ever aired, for at no time have I seen any of the windows open.Often I have 23 James that he should open one, but each time he answered, “Not just now, Henry, later”.Luckily I do not have to go there very often nor do I stay there longer than I have to.Strangely enough, James is quite tidy outside his office.Only once have I seen him with a dirty 24 , for example.Nor is he careless about things like invitations.At no time 25 been known to forget a party, and no sooner does he receive an invitation 26 he answers it.Unfortunately, his office is quite differently run.Perhaps he does not like such a work.In his garden in the evenings and 27 , James is happy as soon as he gets home from the office.He begins to work in the garden.Always he seems to have some work to do there, and nowhere in his garden is there a curlier which is not tidy and well looked 28 .Seldom have I seen prettier flowers, or healthier vegetables, or smoother, greener grass than in James garden.Really.I think he ought 29 a farmer, so good is he 30 such work.

21.A.have I

B.do I

C.I have

D.I do

22.A.does it seem

B.it does seem

C.it seems

D.is it seem

23.A.hinted

B.suggested

C.asked

D.mentioned

24.A.dog

B.collar

C.caller

D.dollar

25.A.will he

B.he will

C.has he

D.he has

26.A.than

B.as

C.and

D.when

27.A.in week-ends

B.in week-end

C.by week-ends

D.at week-ends

28.A.about

B.after

C.at

D.for

29.A.work as

B.to go

C.to have been

D.become

30.A.for

B.at

C.in

D.with

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第5题

Today, the Tower of London is one of the most popular tourist【C1】______ and attracts over
three million visitors a year. It was occasionally used as a royal palace for the Kings and Queens of England【C2】______ the time of James I, who【C3】______ from 1603 to 1625, but is best known as a prison and execution place. Within the walls of the tower, princes have been murdered, traitors【C4】______ spies shot, and queens of England beheaded. One of the most famous【C5】______ was that of Anne Boleyn in 1536. She was the second wife of Henry Ⅷ. He wanted to【C6】______ her because she could not give him a son, so he【C7】______ her of adultery. She was tried and found guilty. She asked to be beheaded with a sword,【C8】______ the usual axe, which can still be seen in the tower.

The tower was also the 【C9】______ of one of London's most famous mysteries. King Edward Ⅳ died in 1483. His elder son, Edward, became king【C10】______ his father's death. Young Edward lived in the Tower, and the Duke of Gloucester, his protector,【C11】______ Edward's brother, Richard, to come and live there so that they could play together.【C12】______ then the Duke【C13】______ that he was the new king, and he was crowned 【C14】______ the twelve-year-old Edward,【C15】______ himself Richard Ⅲ.

After that, the boys were seen less and less and【C16】______ disappeared. It is said that they were suffocated in bed by pillows being【C17】______ their mouths. It is believed that Richard Ⅲ ordered their deaths, although it has never been【C18】______ In 1674, workmen at the tower discovered two skeletons, which were taken away and buried in Westminster Abbey in 1678. The【C19】______ were examined in 1933 and were declared to be those of two children,【C20】______ the age of the Princes.

【C1】

A.seats

B.scenes

C.grounds

D.sights

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第6题

找出不同类的一项()

A.Jan

B.pril

C.Mar

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第7题

ASystempadministratorwishestocreateatemplatefiletomonitorperformance.HavingfoundatemplatefromJanuary,howcantheadministratorcreateaJulytemplatewithoutdestroyingtheoriginalJanuaryversion()

A.vijan.template:%s/Jan/Jul/g:wjul.template:q!

B.catjan.template seds:Jan:Jul:>jan.template

C.vijan.template:1,$replaceJanJul[Esc]ZZ

D.vijan.template:wjul.template:1,$s/Jan/Jul/g:q!

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第8题

Jan ______ over there.

A.is

B.are

C.am

D.was

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第9题

Jim's house is ()larger than Jan's.

A.sometime

B.some time

C.sometimes

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第10题

下面单词的首字母发音一样。 Jan joke gem gym
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