单选题TAX RATES AND ALLOWANCES The following tax rates and allowances are to be used in answering the questions. Enterprise income tax Deduction limits on certain expenses Individual income tax Entrepreneurs who receive production or operations income derived from private industrial or commercial operations Individual service income Allowance each time for individual service income, income from manuscripts, royalties and rental of property Donations of individuals Limited to: 30% of the taxable income; or 100% if the donation is made to certain funds approved by the government Value added tax (VAT) VAT pilot programme Note: The above rates are based on the pilot rules published by 30 September 2014. The new rules effective from 1 October 2014 are not examinable in the 2015 exams. Business tax Land appreciation tax Exchange rate USD1 = RMB

单选题FE Ltd is a UK engineering company

单选题Which of the following are treated as taxable income for the purposes of individual income tax? (1) Cash of RMB100,000 from grandfathers estate (2) Insurance compensation of RMB25,000 from a traffic accident (3) Moon-cake coupon worth RMB100 received from an employer (4) Company car, valued at RMB50,000, and transferred to an employee free of charge

单选题The following scenario relates to questions 1620

单选题TAX RATES AND ALLOWANCES The following tax rates and allowances are to be used in answering the questions. Individual income tax Entrepreneurs who receive production or operations income derived from private industrial or commercial operations Allowance per annum RMB42,000 Monthly personal allowance for a China local RMB3,500 Additional allowance for expatriate employees RMB1,300 Allowance each time for individual service income, income from manuscripts, royalties and rental of property RMB4,000 and below RMB800 Over RMB4,000 20% Income from: Manuscripts, royalties, interest, dividends, rental of property, transfer of property, incidental income and other income 20% Donations of individuals Limited to: 30% of the taxable income; or 100% if the donation is made to certain funds approved by the government Note: The above rates are based on the pilot rules published by 30 September 2017. The new rules issued from 1 October 2017 onwards are not examinable in the 2018 exams. Exchange rate USD1 = RMB6​​​​​​​

单选题Judy Chen received RMB200 cash (net of tax) in a lottery from Supermarket X and received RMB450 WeChat Red-pocket money from her friends

单选题The following scenario relates to questions 2125

单选题Abdul’staxliabilitiesforthetaxyears2013–14and2014–15areasfollows:WhatpaymentonaccountwillAbdulhavetomakeon31July2015inrespectofhistaxliabilityforthetaxyear2014–15?

单选题Bur Ltd qualified as a small-profit enterprise in 2017

单选题For the year ended 30 November 2014, Mixiness Ltd has taxable total profits of ￡1,380,000 and franked investment income (FII) of ￡240,000. Mixiness Ltd does not have any associated companies. What is Mixiness Ltd’s corporation tax liability for the year ended 30 November 2014?

单选题Lorna has the choice of being either employed or self-employed. If employed, Lorna’s gross annual salary for the tax year 2014–15 will be ￡36,000. If self-employed, Lorna’s trading profit for the year ended 5 April 2015 will be ￡36,000. How much more national insurance contributions will Lorna suffer for the tax year 2014–15 if she chooses to be employed rather than self-employed?

单选题Tett Ltd is a qualified software enterprise set up in Chengdu

单选题TAX RATES AND ALLOWANCES The following tax rates and allowances are to be used in answering the questions. Individual income tax Entrepreneurs who receive production or operation income derived from private industrial or commercial enterprises Individual service income Before tax income Rate Quick deduction factor (RMB) (RMB) Up to and including 20,000 20% 0 Over 20,000 to 50,000 30% 2,000 Over 50,000 40% 7,000 Allowance each time for individual service income, income from manuscripts, royalties and rental of property RMB4,000 and below RMB 800 Over RMB4,000 20% Income from manuscripts, royalties, interest, dividends, rental of property, transfer of property, incidental income and other income 20% Donations of individuals Limited to: 30% of the taxable income; or 100% if the donation is made to certain funds approved by the government Value added tax (VAT) Rate For importation of goods depending on the itemised goods 17%/13% For small-scale taxpayers and simplified method 3% For general taxpayers for the sale of itemised goods, processing, and repairing 17% for the sale or import of itemised goods 13% input tax credit for agricultural products 13% VAT pilot programme Industries Rate Transportation, postal and certain telecom services 11% RD and technical services, IT services, cultural and innovation services, logistics auxiliary services, attestation and consulting services, and broadcasting, film and television services, certain telecom services 6% Tangible movable property leasing services 17% Note: The above rates are based on the pilot rules published by 30 September 2014. The new rules effective from 1 October 2014 are not examinable in the 2015 exams. Business tax Industries Rate Construction, culture and sports 3% Finance and insurance, services, transfer of intangible property, sale of immovable property 5% Entertainment 5%~20% Exchange rate USD1 = RMB

单选题Alice is in business as a sole trader. On 13 May 2014, she sold a freehold warehouse for ￡184,000, and this resulted in a chargeable gain of ￡38,600. Alice purchased a replacement freehold warehouse on 20 May 2014 for ￡143,000.Where possible, Alice always makes a claim to roll over gains against the cost of replacement assets. Both buildings have been, or will be, used for business purposes by Alice. What is the base cost of the replacement warehouse for capital gains tax purposes?

单选题Which classes of national insurance contribution is an employer responsible for paying?

单选题Smell Fast Food (SFF) is a small-scale taxpayer for value added tax (VAT) purposes

单选题For the tax year 2013–14, Willard filed a paper self-assessment tax return on 10 August 2014. What is the deadline for Willard to make an amendment to his tax return for the tax year 2013–14, and by what date will HM Revenue and Customs (HMRC) have to notify Willard if they intend to carry out a compliance check into this return? Amendment Compliance check

单选题For the year ended 30 June 2014, Forgetful Ltd had a corporation tax liability of ￡166,250, which it did not pay until 31 July 2015. Forgetful Ltd is not a large company. How much interest will Forgetful Ltd be charged by HM Revenue and Customs (HMRC) in respect of the late payment of its corporation tax liability for the year ended 30 June 2014?

单选题Which of the following statements correctly explains the difference between tax evasion and tax avoidance?

单选题Rust Ltd lost some inventory during a snowstorm in January 2018