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 ?

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?

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.

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?

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?

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?

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?

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

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?

Alexandra started in business as a sole trader on 1 August 2019 and prepared her first set of accounts to 30 April 2021.

Match the start date and the end date of Alexandra's basis period for the tax year 2020/21, her second tax year of trading.

1 August 2019 - 6 April 2020 - 1 May 2020

31 July 2020 - 5 April 2021 - 30 April 2021

Joyce started in business as a sole trader on 1 January 2020 and prepared her first set of accounts to 30 September 2020 and her second set of accounts to 30 September 2021.

She made the following losses in her first two periods of trading:

£

p/e 30 September 2020 (9,000)

y/e 30 September 2021 (14,400)

Match the amounts of the trading losses with the tax years.

£3,000 - £9,000 - £9,600

£11,400 - £12,600 - £14,400

Abena has made the following gross contributions to her personal pension scheme over the past three tax years:

Tax year £

2017/18 - 42,000

2018/19 - 27,000

2019/20 - 28,000

Abena is entitled to an annual allowance of £40,000 in all tax years from 2017/18 to 2020/21.

What is the maximum gross contribution which Abena can make to her personal pension scheme for the tax year 2020/21 without giving rise to an annual allowance charge?

Triangle Ltd is registered for value added tax (VAT) and uses the annual accounting scheme. For the year ended 31 December 2020, the net VAT payable by Triangle Ltd was £73,500.

For the year ended 31 December 2019, the net VAT payable by Triangle Ltd was £47,700.

Indicate, by clicking on the relevant boxes in the table below, the number and amount of the monthly payments on account of VAT which Triangle Ltd must make in respect of the year ended 31 December 2020 prior to submitting its VAT return for that year.

Which of the following statements concerning self-assessment tax returns for individuals is TRUE?

Rajesh is a sole trader. He correctly calculated his self-assessment payments on account for the tax year 2020/21 and paid these on the due dates.

Rajesh paid the correct balancing payment of £1,200 for the tax year 2020/21 on 30 June 2022.

Indicate, by clicking on the relevant boxes in the table below, what penalties and interest Rajesh may be charged as a result of his late balancing payment for the tax year 2020/21.

Kitten is the controlling shareholder in Kat Ltd, an unquoted trading company.

Kat Ltd

Kat Ltd sold a freehold factory on 31 May 2020 for £364,000, which resulted in a chargeable gain of £120,700. The factory was purchased on 1 October 2005 for £138,600, and further capital improvements were immediately made at a cost of £23,400 during the month of purchase.

Further improvements to the factory were made during the month of disposal. The relevant indexation factor is 0.439. Kat Ltd is unsure how to reinvest the proceeds from the sale of the factory. The company is considering either purchasing a freehold warehouse for £272,000, or acquiring a leasehold office building on a 40-year lease for a premium of £370,000. If either reinvestment is made, it will take place on 30 September 2021. All of the above buildings have been, or will be, used for the purposes of Kat Ltd's trade.

Kitten

Kitten sold 20,000 £1 ordinary shares in Kat Ltd on 5 October 2020, which resulted in a chargeable gain of £142,200. This disposal qualified for business asset disposal relief. Kitten had originally subscribed for 90,000 shares in Kat Ltd on 7 July 2010 at their par value.

On 22 September 2013, Kat Ltd made a 2 for 3 rights issue. Kitten took up her allocation under the rights issue in full, paying £6.40 for each new share issued.

Kitten also sold an antique vase on 16 January 2021, which resulted in a chargeable gain of £28,900.

For the tax year 2020/21, Kitten had taxable income of £12,000.

If Kat Ltd decides to purchase the freehold warehouse and makes a claim to roll over the chargeable gain on the factory under the rollover relief rules, what will be the base cost of the warehouse for chargeable gains purposes?

Humphrey is a sole trader who has been trading for a number of years.

Humphrey incurred a trading loss in the tax year 2022/23. He wishes to make a claim to offset this loss against his total income of the tax year 2021/22.

What is the deadline for Humphrey to claim this relief?

Peter and Jane have been in partnership for many years preparing accounts to 31 July each year and sharing profits equally. On 1 September 2021, they changed their profit- sharing agreement so that Peter was entitled to a salary of £9,000 each year and the remaining profits were then split two parts to Peter and three parts to Jane. The partnership made a trading profit of £96,000 in the year to 31 July 2022.

What is Peter's taxable trading profit for the tax year 2022/23?

Katya is provided with a hybrid-electric company car from 1 July 2022 to 31 December 2022. The car has a list price of £26,000 with CO2 emissions of 35g/km and an electric range of 39 miles.

What is Katya's car benefit for 2022/23?

Elsa is employed by Bee Ltd. During the tax year 2022/23, Bee Ltd provided Elsa with the following benefits:
- A private gym membership

• - A contribution of £1,800 into Elsa's private pension scheme
  Elsa had use of the private gym membership throughout the tax year. The normal membership fee is £1,000, but Bee Ltd negotiated a discount and paid £900 for it.
  What amount of class 1A national insurance contributions (NICs) are payable by Bee Ltd in respect of Elsa for the tax year 2022/23?

Based on the trading profit of £53,000 for the year ended 5 April 2023, what are the Class 4 national insurance contributions payable by Chi for the tax year 2022/23?

Which TWO of the following statements about the cash basis of assessment are correct?

If Chi uses the cash basis and claims approved mileage allowances, what is the amount of motor expenses (Note 2) which are allowable?

Joseph is self-employed. During the year ended 5 April 2023 he bought a car with CO₂ emissions of 135 grams per kilometre. The car is used by an employee, and 40% of the mileage is for private journeys.

How should Joseph treat the car in calculating capital allowances?

The written down value brought forward on Deborah’s main pool of assets at 6 April 2022 was £32,000. The balance on the special rate pool at 6 April 2022 was £15,000.

During the tax year 2022-23, Deborah spent £7,000 on equipment and sold main pool plant for £6,000 (original cost £8,000).

What is the maximum amount of capital allowances which Deborah can claim for the tax year 2022-23?

Vanessa and Josh have traded in partnership for several years, preparing accounts to 30 June each year. Phil was admitted to the partnership on 1 November 2022.

What is the basis period for Vanessa’s share of the partnership profits for the tax year 2022-23?

Larimar and Amber have been in partnership for many years. The partnership agreement allocates partners’ interest at 5% annually on capital invested. The balance of any profits is shared 35% to Larimar and 65% to Amber.

On 31 December 2022 Larimar’s capital account had a balance of £36,000 and Amber’s balance was £24,000. For the year ended 31 December 2022 the partnership had a tax-adjusted trading profit of £120,000.

What is the amount of Larimar’s trading profit for the tax year 2022-23?

Roberto has been trading for many years. His tax-adjusted trading profits for 2022-23 are £25,000.

What is the total amount of national insurance contributions payable by Roberto for the tax year 2022-23?

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