Indiv - OMB
1 Josh Reynolds Income tax comp
EMI share option, EIS
Trust
Car mileage calc & director fees
2 Phillipa Hassan Trading losses – s.64/83/89
CGT – GR & BADR
IHT Interactions
VAT – CGS, TOGC, SDLT
Consultancy agreement – IR35
3 George Assenga Bonus now vs pension scheme
OPS vs PPS, annual allowance inc adj income calc
Lifetime allowance
Lump sum of pension deduction after retirement
Mixed takeover – shares and loan stock (QCB)
EIS, SEIS
GWROB
Indiv – cap taxes
4 Boxit Ltd CPOOS – PCP
^ substantial reduction -> income distribution and SD
Gift of shares to a connected person -> MV as proceeds, GR, BADR
IHT – BPR
Close company loans – notional tax
SBA on sale of shares for company, VAT and SDLT
5 Karen Brimelow IHT – GWROB, PET, BPR,
CPOOS – income vs cap route plus conditions (benefit of trade)
Deed of variation for CGT and IHT
o/s - personal tax
6 Bill Mickelson Gift of asset to connected person – GR
GW – BADR as business is being disposed off (PM small chattel, inventory no CGT)
Residency status – SYT and CGT implications, RB claim
Trading losses and loss relief (s83, s72, s64, restriction, s261B)
IHT – PET - BPR
7 Gooch Food Partnerships – IT savings, NICS, VAT implications, legal aspects, CGT
Discretionary trusts – relevant property trusts -> CLT and Lifetime tax
Ethics – tax evasion and ML (paying employees o/s), PCRT, objectivity and prof comp
Residency test – auto UK residency test
^ Non dom – claim for RB vs no claim
Single companies
8 Valese plc Losses – terminal loss relief
Liquidation
Ethics – intimidation threat, breach of confidentiality
9 Raffles Ltd Close company – loans & benefits to participators (full Q on CC)
Groups/consortia
10 Splite Ltd Group - VAT/ CGS/TOGC
Group – chargeable gains
Group/consortia – trading losses
Purchase of shares vs purchase T&As
o/s CT – DTR
CFC
Residency test – SYT
, Ethics – tax planning, avoidance, and evasion incl GAAR, BEPs, disclosure, AML
11 Principia Ltd Sale of T&As vs Sale of shares vs Hivedown
Ethics – confidentiality/intimidation threat
12 Expandit Plc CT issues
(group - losses 51% related, SSE + degrouping charge, DTR, transfer pricing)
VAT groups and property
Ethics – tax planning, avoidance, and evasion incl GAAR, BEPs, disclosure, AML
Single companies
13 Scandipop AB Residence – SRT- auto o/s test, auto UK test, UK work test, SYT
PA and taxation of benefits deps on residency status
Ethics – unlawful statement – NCA
DPT, Transfer pricing, thin capitalisation
14 Staplit plc o/s CT – incorporation PE
DPT and effective mismatch
Deferral of incorporation gains
Thin cap and excess interest calc
CBS
15 Shandy Ltd MBO: purchase of shares vs T&As vs Hivedown (provide recs and any further info needed)
Ethics on VAT return
16 Upten plc EMI -net tax cash calc
Group relationship – losses claim, transfer assets between group – NGNL (outside group = CGT), VAT
Consortium losses calc
17 Montgomery Acquiring T&A> shares
Ltd Capital allowances, TOGC, VAT, CGS, SDLT
o/s Subsidiary vs PE
Transfer pricing, CFC, o/s PE election
Sept 2013 exam
2 Sole trader trading losses s.89/s.64– cessation of trade
VAT and SD implications on disposal of sole trader business -> TOGC = no VAT, SD on purchase price
CGT calc – entrepreneurs’ relief
Tax planning advice on the timing of sale of business and disposal of shares, additional docs needed
3 Advice on taxation of diff components of redundancy package inc foreign service
Effect on tax liabilities of sole trader vs company and do calc
Tax risk from HMRC – PSC Legislation emp vs self emp
Dec 2013 exam
1 Explain and restate the errors in CT comp (redundancy costs, gain on disposal, cap allowances)
CT implication and VAT consequences on disposal of factory on 2 dates
CFC – consequences and what additional info is needed
2 Remittance basis – calc UK IT and CGT liabilities
Responsibility of SAOs – ethics and actions to take
3 IHT and CGT implications on gifts in life vs death and recc which proposal is most tax efficient
GWROB - Gifting house to children
Mar 2014 exam
1 Tax implications on the purchase of shares
Tax implications of financing – selling debentures vs shares vs loan from bank, then provide a recc
TTP Calc – losses, FC, NTLR, Debenture interest, gains
2 Explain tax implications of incorporating sole trader business (R&D SME)
Investing shares – EIS – tax implications
Gift of shares – CGT, IHT – PET – BPR
Ethics – COI – check engagement letters and apply safeguards
