ACCA考试 2022_05_15 每日一练
(ii) Advise Benny of the amount of tax he could save by delaying the sale of the shares by 30 days. For the
purposes of this part, you may assume that the benefit in respect of the furnished flat is £11,800 per
year. (3 marks)
(c) Discuss the difficulties that may be experienced by a small company which is seeking to obtain additional
funding to finance an expansion of business operations. (8 marks)
6 Certain practices have developed that threaten to damage the integrity and objectivity of professional accountants and
the reputation of the accounting profession.
Required:
Explain the following practices and associated ethical risks and discuss whether current ethical guidance is
sufficient:
(a) ‘lowballing’; (5 marks)
(b) Donald actually decided to operate as a sole trader. The first year’s results of his business were not as he had
hoped, and he made a trading loss of £8,000 in the year to 31 March 2007. However, trading is now improving,
and Donald has sufficient orders to ensure that the business will make profits of at least £30,000 in the year to
31 March 2008.
In order to raise funds to support his business over the last 15 months, Donald has sold a painting which was
given to him on the death of his grandmother in January 1998. The probate value of the painting was £3,200,
and Donald sold it for £8,084 (after deduction of 6% commission costs) in November 2006.
He also sold other assets in the year of assessment 2006/07, realising further chargeable gains of £8,775 (after
indexation of £249 and taper relief of £975).
Required:
(i) Calculate the chargeable gain on the disposal of the painting in November 2006. (4 marks)