Câu hỏi về hợp tác xã

The Quack partnership has recently disposed of an office building. The office building was owned jointly by all the partners. The office building was sold to a property developer.Who is liable to pay any capital gains tax due on the disposal of the office building?

• Partnership

• Partners jointly

• Property developer

• Partners individually

On what date will Annabelle be treated as having disposed of the house for capital gains tax purposes?

• 18 April 2024

• 17 April 2024

• 15 April 2024

• 15 March 2024

Which of the following statements about capital gains is true?

• Assets which are inherited are treated as being acquired by the donee at the price originally paid by the donor.

• Wasting chattels bought and sold for more than £6,000 are chargeable to CGT

• Stamp duty land tax paid on the purchase of land may be deducted as part of cost on a subsequent disposal of the land.

• Where an asset is not sold at arm's length, the proceeds are deemed to equal cost so that no chargeable gain arises.

Katie purchased an antique vase in January 1 990 for £1 3,000. She sold it for £5,600 in March 2024 and paid auctioneer's fees of £800 for its sale. What is Katie's allowable loss on sale?

• £(7,800)

• £(8,200)

• £(7,400)

• £(7,000)

Freddy made two disposals during 2023/24. For each of the two disposals select how the resulting gains should be treated to determine Freddy's total chargeable gains for 2023/24

Gain of £4,500 on the disposal of a caravan

Gain of £1,000 on the sale of a sculpture. The sculpture originally cost £4,000.

• Chargeable gain

• Exempt

• Chargeable gain

• Exempt

Thandie purchased an antique chair in February 2001 for £2,500. She sold it in May 2023 for £11,1 50. She paid £560 as commission to the aqent who sold the chair for her.What is the chargeable gain on the disposal of the chair?

• £8,650

• £8,650

• £7,650

• £8,090

David has net income for 2023/24 of £50,995. David has also made taxable gains of £33,422 for 2023/24. Select how each of the following items will affect the calculation of David's capital gains tax liability for 2023/24, if at all.His unused annual exempt amount from 2022/23:

• Reduces capital gains tax payable

• Increases capital gains tax payable

• Has no effect

LO 4b David has net income for 2023/24 of £50,995. David has also made taxable gains of £33,422 for 2023/24. Select how each of the following items will affect the calculation of David's capital gains tax liability for 2023/24, if at all.Becoming a higher rate taxpayer for the first time:

• Reduces capital gains tax payable

• Increases capital gains tax payable

• Has no effect

The Goose partnership has recently disposed of a chargeable asset. The chargeable asset was owned jointly by all the partners. Who is liable to pay any capital gains tax due on the disposal of the chargeable asset?

• Partners individually

• No capital gains tax is due

• Partnership

• Partners jointly

In December 1998 Jasmine purchased a house for £1 76,000. Jasmine has always rented out the house to tenants. In December 2001 Jasmine installed a new bathroom at a cost of £6,400. In December 2023 Jasmine sold the house for £642,000. Jasmine also paid stamp duty land tax at 1 % of the purchase price when she bought the house. What is the chargeable gain on disposal of the house?

(a)