问答题 4.

问答题 (a) Amanda, Beatrice and Claude have been in partnership since 1 November 2008, preparing accounts to 31 October annually. Daniel joined as a partner on 1 May 2014. Profits have always been shared equally. The partnership’s recent tax-adjusted trading profits are as follows:

问答题 (b) Francine is employed by Fringe plc. On 1 August 2014, Fringe plc provided Francine with a loan of ￡96,000 to help her purchase a holiday cottage. On 1 October 2014, the loan was increased by a further ￡14,000 so that Francine could renovate the cottage. Francine pays interest at an annual rate of 1·5% on this loan. The taxable benefit in respect of this loan is calculated using the average method. Required: Calculate Francine’s taxable benefit for the tax year 2014–15 in respect of the loan from Fringe plc.(3 marks)

问答题 (c) Gregor has been self-employed since 6 April 2001. He has the following income and chargeable gains for the tax years 2013–14 and 2014–15: