TX -Ch-1 to Ch-12

Which TWO of the following have legal force?

(a) Revenue and Customs Brief

(b) A Statutory Instrument

(c) An Act of Parliament

(d) An Extra Statutory Concession

• (a) & (b)

• (b) & (c)

• (b) & (d)

• (c) & (d)

Enzo is planning to leave the UK to live overseas, having always previously been resident in the UK. He will not automatically be treated as either resident in the UK or non resident in the UK. Enzo has several ties with the UK and will need to visit the UK for 60 days each tax year. However, he wants to be not resident after he leaves the UK.

For the first two tax years after leaving the UK, what is the maximum number of ties which Enzo could keep with the UK without being treated as resident in the UK ?

• One

• Four

• Two

• Three

Yusuf had net income of £109,500 and paid a gift aid donation of £2,400 in the tax year 2021/22.

What is his personal allowance for the tax year 2021/22?

• £0

• £9,020

• £9,320

• £6,070

Alice has income from self employment of $37,335 and employment income of $21,000.

Assume that these taxpayers have no other income in the tax year 2021/2022.

Calculate the income tax liabilities of Alice for the tax year 2021/2022.

• 10766

• 10866

Luke acquired a residential property that he first let out, unfurnished, on 1 August 2022 for an annual rental of £12,000 payable quarterly in advance. Expenditure for the period from 1 August 2022 to 5 April 2023 was:
What is Luke’s property income for the tax year 2022-23?

• £5,390

• £5,380

• £5,3880

• £5,480

John is employed by Zebra plc. He was provided with a computer for private use on 6 November 2021.

The market value of the computer when first provided to an employee for private use was £3,600 and the computer had a market value of £2,000 when first provided to John for private use. Zebra plc gave the computer to John on 5 April 2023 when it had a market value of £1,000.

What are the total taxable benefits for John in respect of the computer for the tax year 2022/23?

• £2,880

• £3,300

• £1,720

• £1,833

Trevor is employed by Cress plc. He is provided with a car available for private use for the tax year 2022/23. The car has CO2 emissions of 102 g/km and a list price of £20,000 although Cress plc actually paid £18,000 for the car as the result of a dealer discount.

The car has a diesel engine which does not meet the RDE2 standard. No private fuel is provided.

What is Trevor's taxable car benefit for the tax year 2022/23?

• £4,500

• £5,220

• £5,000

• £5,800

Since 2018, Sergey has lived in job-related accommodation provided by his employer for Sergey's personal security. He has an annual gross salary of £60,000 for the tax year 2022/23.

Throughout the tax year 2022/23, Sergey's employer paid for heating, cleaning and lighting the accommodation at a cost of £7,000. His employer also provided Sergey with furniture on 6 April 2022 at a cost of £10,000.

What is the amount assessable on Sergey in the tax year 2022/23 in relation to the furniture, heating, cleaning and lighting costs?

• £6,000

• £9,000

• £7,000

• £8,000

In which of the following ways can overlap profits be relieved?

• Against first available current year basis profits

• Against trading income on cessation

• Against general income of tax year of commencement and/or preceding tax year

• Against general income in the three tax years preceding the year of commencement

What is the maximum amount that Sam can invest into the cash ISA for the tax year 2022/23 in addition to his investments already made?

• £12,000

• £14,000

• £15,000

• £19,000