问答题(c) State by when the tax liability calculated in (b) should be paid. (1 mark)

问答题(c) Explain how an individual can obtain relief for a trading loss, clearly identifying the order in which the relief will be given. (4 marks)

问答题(b) In addition to the disposal already made on 27 August 2014, Ruby is going to make one further disposal during the tax year 2014–15. This disposal will be of either Ruby’s holding of ￡1 ordinary shares in Pola Ltd, or her holding of 50p ordinary shares in Aplo plc. Shareholding in Pola Ltd Pola Ltd is an unquoted trading company, in which Ruby has a 10% shareholding. The shareholding was purchased on 14 July 2007 for ￡23,700 and could be sold for ￡61,000. Ruby has been an employee of Pola Ltd since 2005. Shareholding in Aplo plc Aplo plc is a quoted trading company, in which Ruby has a shareholding of 40,000 50p ordinary shares. Ruby received the shareholding as a gift from her father on 27 May 2010. On that date, the shares were quoted on the stock exchange at ￡2·12–￡2·24. There were no recorded bargains on that date. The shareholding could be sold for ￡59,000. Neither entrepreneurs’ relief nor holdover relief is available in respect of this disposal. Required: Calculate Ruby’s revised capital gains tax liability for the tax year 2014–15 if, during March 2015, she also disposes of either (1) her shareholding in Pola Ltd; or alternatively (2) her shareholding in Aplo plc. Note: The following mark allocation is provided as guidance for this requirement: Pola Ltd (4.5 marks) Aplo plc (3.5 marks) (8 marks)

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问答题(c) The partnership of Alfred King and Anne Royal is planning to replace Mary Regal by employing either one full-time employee or two part-time employees. A full-time employee would be paid a gross annual salary of ￡22,000, whilst the part-time employees would each be paid gross annual salaries of ￡11,450. Alfred would prefer to employ two part-time employees, but is concerned that this will be more expensive. Required: Explain to Alfred King why employing two part-time employees will not be any more expensive than employing one full-time employee. Note: You should include calculations to support your explanation, and should confine your answer to the information given in this part of the question.(3 marks)

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