(1). For the tax year 2014–15 Som has chargeable gains of £22,600. She has unused capital losses of £26,100 brought forward from the tax year 2013–14. What amount of unused capital losses will Som carry forward to the tax year 2015–16?
A £26,100
B Nil
C £14,500
D £3,500
(2). For the tax year 2014–15 Alistair’s taxable income is £28,205. During the year he sold an antique vase, and this resulted in a chargeable gain of £32,600. What is Alistair’s CGT liability for 2014–15?
A £5,682
B £8,762
C £6,048
D £3,888
(3). On 19 March 2015 Jay sold five acres of land for £72,000. He had originally purchased eight acres of land on 7 June 2005 for £68,000. The market value of the unsold three acres of land as at 19 March 2015 is £40,500. For CGT purposes, what is Jay’s cost figure for the five acres of land that he has sold?
A £42,500
B £68,000
C £46,080
D £43,520
(4). On 8 November 2014 Leo sold an antique table for £12,800. The table had been purchased on 2 May 2003 for £1,300. What is Leo’s chargeable gain on the disposal of the table?
A £11,333
B £4,080
C £11,500
D £6,800
(5). Emma made a gift of her entire shareholding of £1 ordinary shares in AMZ plc to her son. On the date of the gift the shares were quoted at £10.20 – £10.64, with recorded bargains of £10.10, £9.80, £10.30 and £10.80. What market value will be used in calculating the chargeable gain arising from Emma’s gift of AMZ plc shares?
A £10.31
B £10.25
C £10.30
D £10.42
(6). Paul sold a factory on 10 May 2014, and this resulted in a chargeable gain. During what period must reinvestment take place if Paul wishes to claim rollover relief in respect of this gain?
A 10 May 2013 to 10 May 2015
B 10 May 2014 to 10 May 2017
C 10 May 2013 to 10 May 2017
D 10 May 2014 to 10 May 2015
(7). Dash Ltd sold a factory on 7 February 2015 for £260,000. The factory was purchased on 4 July 1997 for £114,000. Retail price indices (RPIs) are 157.5 for July 1997 and 260.0 for February 2015. What is Dash Ltd’s chargeable gain on the disposal of the factory?
A £146,000
B £50,954
C £71,810
D £71,786