F6 CR Question Practice final.xlsx

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1、 CBE-style question practice for F6 UKThis spreadsheet contains constructed response question practice for the F6 UK exam This file should be used in conjunction with the interactive PDF provided which contains a topic-based index as well as Objective Test (OT) and OT Case questions.Each question co

2、ntains a scenario which relates to one or more requirement(s) which may be split over multiple tabs in this excel document Important: 1. The format of questions in this pack mimic that of the live exams as far as is possible in this offline format, but with significant limitations in the formatting

3、and other functionality within the word processing and spreadsheet answer spaces. 2. To prepare for your exams and familiarise yourself with the functionality of the live exams, you must make use of the Specimen Exam and other support materials available at (http:/ 3. In the live exams, markers will

4、 give credit for workings as long as they are in the answer space. Markers will be able to see formulae in cells in spreadsheet answers, just as they can in answers saved in this question pack.Please save a copy of this excel document after you complete your answers for your future reference or if y

5、ou are going to submit your answers to your tutor for marking.This file should be used in conjunction with the interactive PDF provided which contains a topic-based index as well as Objective Test (OT) and OT Case questions.1. The format of questions in this pack mimic that of the live exams as far

6、as is possible in this offline format, but with significant limitations in the formatting and other functionality within the word processing and spreadsheet answer spaces. 2. To prepare for your exams and familiarise yourself with the functionality of the live exams, you must make use of the Specime

7、n Exam and other support materials available at (http:/ 3. In the live exams, markers will give credit for workings as long as they are in the answer space. Markers will be able to see formulae in cells in spreadsheet answers, just as they can in answers saved in this question pack.Please save a cop

8、y of this excel document after you complete your answers for your future reference or if you are going to submit your answers to your tutor for marking.1. The format of questions in this pack mimic that of the live exams as far as is possible in this offline format, but with significant limitations

9、in the formatting and other functionality within the word processing and spreadsheet answer spaces. 2. To prepare for your exams and familiarise yourself with the functionality of the live exams, you must make use of the Specimen Exam and other support materials available at (http:/ 3. In the live e

10、xams, markers will give credit for workings as long as they are in the answer space. Markers will be able to see formulae in cells in spreadsheet answers, just as they can in answers saved in this question pack.Topic 2 EMPLOYMENT INCOME Question No. 6(a) Calculate Wais taxable income for the tax yea

11、r 2016/17. (12 marks)(a) Calculate Wais taxable income for the tax year 2016/17. Topic 2 EMPLOYMENT INCOME Question No. 6(b) Briefly outline the information to be included in PAYE forms P60 and P11D, and state the dates by which they should have been provided to Wai for the tax year 2016/17. Note. Y

12、our answer should be confined to the details which are relevant to Wai, although no figures are required.(3 marks) Double-click in the box to start typing answer and click OK if a message window appears.Calculate Patiences income tax and capital gains tax liabilities for the tax year 2016/17 . Notes

13、. 1. You should indicate by the use of zero (0) any items which are not taxable or deductible. 2. The following mark allocation is provided as guidance for this question:Income tax (13 marks)Capital gains tax (2 marks)Calculate Patiences income tax and capital gains tax liabilities for the tax year

14、2016/17 . Notes. 1. You should indicate by the use of zero (0) any items which are not taxable or deductible. 2. The following mark allocation is provided as guidance for this question:Income tax (13 marks)Capital gains tax (2 marks)(a) Calculate Samson and Delilahs respective income tax liabilities

15、 for the tax year 2016/17. Note. The following mark allocation is provided as guidance for this requirement: Samson (4 marks) Delilah (9 marks) (13 marks)(b) Calculate Samsons income tax saving for the tax year 2016/17 if the building society deposit account had been in Delilahs sole name instead of

16、 in joint names for the entire year. (2 marks)(a) Calculate Samson and Delilahs respective income tax liabilities for the tax year 2016/17. Note. The following mark allocation is provided as guidance for this requirement: Samson (4 marks) Delilah (9 marks) (13 marks)(b) Calculate Samsons income tax

17、saving for the tax year 2016/17 if the building society deposit account had been in Delilahs sole name instead of in joint names for the entire year. (2 marks)(a) Calculate Flicks taxable income for the tax year 2016/17. (11 marks )(a) Calculate Flicks taxable income for the tax year 2016/17. (11 ma

18、rks )(b) List the advantages and disadvantages for the partnership of choosing 30 April as its accounting date rather than 5 April. (4 marks )Double-click in the box to start typing answer and click OK if a message window appears.(b) List the advantages and disadvantages for the partnership of choos

19、ing 30 April as its accounting date rather than 5 April. (4 marks )(b) List the advantages and disadvantages for the partnership of choosing 30 April as its accounting date rather than 5 April. (4 marks )(a) State the factors that will influence an individuals choice of loss relief claims. (3 marks)

20、 Double-click in the box to start typing answer and click OK if a message window appears.(a) State the factors that will influence an individuals choice of loss relief claims. (3 marks) (a) State the factors that will influence an individuals choice of loss relief claims. (3 marks) (b) Calculate Sam

21、anthas taxable income and taxable gains for each of the tax years 2014/15, 2015/16, 2016/17 and 2017/18 on the assumption that she relieves the trading loss of 79,000 for the tax year 2016/17 on the most favourable basis. Note. You should assume that the tax rates and allowances for the tax year 201

22、6/17 apply throughout. (7 marks) ooooooo(b) Calculate Samanthas taxable income and taxable gains for each of the tax years 2014/15, 2015/16, 2016/17 and 2017/18 on the assumption that she relieves the trading loss of 79,000 for the tax year 2016/17 on the most favourable basis. Note. You should assu

23、me that the tax rates and allowances for the tax year 2016/17 apply throughout. (7 marks) (a) List FOUR factors which are indicators of George being treated as an employee in relation to his contract with Xpee plc rather than as self-employed. Note. You should confine your answer to the information

24、given in the question. (2 marks )Double-click in the box to start typing answer and click OK if a message window appears.(a) List FOUR factors which are indicators of George being treated as an employee in relation to his contract with Xpee plc rather than as self-employed. Note. You should confine

25、your answer to the information given in the question. (2 marks )(a) List FOUR factors which are indicators of George being treated as an employee in relation to his contract with Xpee plc rather than as self-employed. Note. You should confine your answer to the information given in the question. (2

26、marks )(b) Calculate Georges income tax liability and national insurance contributions for the tax year 2016/17 if he is treated as self-employed in respect of his contract with Xpee plc. (4 marks )(c) If George is treated as being an employee of Xpee plc instead of self-employed: (i) Explain why hi

27、s income tax liability will be payable earlier. (2 marks) (ii) Calculate the additional amount of national insurance contributions which he personally will suffer for the tax year 2016/17. (2 marks)(b) Calculate Georges income tax liability and national insurance contributions for the tax year 2016/

28、17 if he is treated as self-employed in respect of his contract with Xpee plc. (4 marks )(c) If George is treated as being an employee of Xpee plc instead of self-employed: (i) Explain why his income tax liability will be payable earlier. (2 marks) (ii) Calculate the additional amount of national in

29、surance contributions which he personally will suffer for the tax year 2016/17. (2 marks)(a) Calculate Daniels trading income assessment for the tax year 2016/17. (3 marks )(a) Calculate Daniels trading income assessment for the tax year 2016/17. (3 marks )(b) Calculate Francines taxable benefit for

30、 the tax year 2016/17 in respect of the loan from Fringe plc . (3 marks)(b) Calculate Francines taxable benefit for the tax year 2016/17 in respect of the loan from Fringe plc . (3 marks)(c) On the assumption that Gregor relieves his trading loss of 68,800 as early as possible, calculate the amount

31、of trading loss carried forward to the tax year 2017/18.Note. You should assume that the tax allowances for the tax year 2016/17 apply throughout. (4 marks )(c) On the assumption that Gregor relieves his trading loss of 68,800 as early as possible, calculate the amount of trading loss carried forwar

32、d to the tax year 2017/18.Note. You should assume that the tax allowances for the tax year 2016/17 apply throughout. (4 marks )(a) (i) Assuming that Winston does not sell his sole trader business, calculate his capital gains tax liability for the tax year 2016/17. (3 marks)(ii) Calculate Winstons ca

33、pital gains tax liability for the tax year 2016/17 if he sold his sole trader business on 25 March 2017. (4 marks )(a) (i) Assuming that Winston does not sell his sole trader business, calculate his capital gains tax liability for the tax year 2016/17. (3 marks)(ii) Calculate Winstons capital gains

34、tax liability for the tax year 2016/17 if he sold his sole trader business on 25 March 2017. (4 marks )(b) Compute Renaldos chargeable gain in respect of the disposal on 3 December 2016. (3 marks )(b) Compute Renaldos chargeable gain in respect of the disposal on 3 December 2016. (3 marks )(i) Advis

35、e John of the latest date by which he should have notified HMRC of his chargeability to income tax for the tax year 2015/16 and the maximum and minimum penalties for late notification if he immediately notifies HMRC of his chargeability and is deemed to have been careless. (3 marks)(ii) State the pe

36、riod during which HMRC will have to notify John if they intend to carry out a compliance check in respect of his self-assessment tax return for the tax year 2015/16, and the possible reasons why such a check would be made. Note. You should assume for part (ii) that John will file his tax return by t

37、he due filing date.(3 marks )Double-click in the box to start typing answer and click OK if a message window appears.(i) Advise John of the latest date by which he should have notified HMRC of his chargeability to income tax for the tax year 2015/16 and the maximum and minimum penalties for late not

38、ification if he immediately notifies HMRC of his chargeability and is deemed to have been careless. (3 marks)(ii) State the period during which HMRC will have to notify John if they intend to carry out a compliance check in respect of his self-assessment tax return for the tax year 2015/16, and the

39、possible reasons why such a check would be made. Note. You should assume for part (ii) that John will file his tax return by the due filing date.(3 marks )(i) Advise John of the latest date by which he should have notified HMRC of his chargeability to income tax for the tax year 2015/16 and the maxi

40、mum and minimum penalties for late notification if he immediately notifies HMRC of his chargeability and is deemed to have been careless. (3 marks)(ii) State the period during which HMRC will have to notify John if they intend to carry out a compliance check in respect of his self-assessment tax ret

41、urn for the tax year 2015/16, and the possible reasons why such a check would be made. Note. You should assume for part (ii) that John will file his tax return by the due filing date.(3 marks )The UK Government uses tax policies to encourage certain types of activity. (b) Briefly explain how the UK

42、Governments tax policies encourage: (i) Individuals to save (1 mark) (ii) Individuals to support charities (1 mark) (iii) Entrepreneurs to build their own businesses and to invest in plant and machinery. (2 marks )Double-click in the box to start typing answer and click OK if a message window appear

43、s.The UK Government uses tax policies to encourage certain types of activity. (b) Briefly explain how the UK Governments tax policies encourage: (i) Individuals to save (1 mark) (ii) Individuals to support charities (1 mark) (iii) Entrepreneurs to build their own businesses and to invest in plant an

44、d machinery. (2 marks )The UK Government uses tax policies to encourage certain types of activity. (b) Briefly explain how the UK Governments tax policies encourage: (i) Individuals to save (1 mark) (ii) Individuals to support charities (1 mark) (iii) Entrepreneurs to build their own businesses and

45、to invest in plant and machinery. (2 marks )Calculate Softapp Ltds corporation tax liability for the year ended 31 March 2017. Note. Your computation should commence with the operating profit figure of 711,475. (15 marks )Calculate Softapp Ltds corporation tax liability for the year ended 31 March 2

46、017. Note. Your computation should commence with the operating profit figure of 711,475. (15 marks )Calculate Molten-Metal plcs corporation tax liability for the year ended 31 March 2017. Ignore VAT. (15 marks)Double-click in the box to start typing answer and click OK if a message window appears.Ca

47、lculate Molten-Metal plcs corporation tax liability for the year ended 31 March 2017. Ignore VAT. (15 marks)Calculate Molten-Metal plcs corporation tax liability for the year ended 31 March 2017. Ignore VAT. (15 marks)(a) Explain how limited companies can obtain relief for capital losses. (3 marks )

48、Note. You are not expected to explain how groups of companies can obtain relief for capital losses.Double-click in the box to start typing answer and click OK if a message window appears.(a) Explain how limited companies can obtain relief for capital losses. (3 marks )Note. You are not expected to explain how groups of companies can obtain relief for capital losses.(a) Explain how limited companies can obtain relief for capital losses. (3 marks )Note. You are not expected to explain how groups of companies can obtain relief for capital losses.(b) Calculate Acebook Ltds chargeable gain on