people willingly pay taxes because they want to do something useful to the country
people willingly pay taxes because they do not want to be looked down upon by others
people pay taxes unwillingly because they feel they will be arrested if they do not
people pay taxes somewhat unwillingly
第1题:
5 The International Accounting Standards Board (IASB) is currently in a joint project with the Accounting Standards
Board (ASB) in the UK and the Financial Accounting Standards Board (FASB) in the USA in the area of reporting
financial performance/comprehensive income. The main focus of the project is the development of a single statement
of comprehensive income to replace the income statement and statement of changes in equity. The objective is to
analyse all income and expenses and categorise them in a way that increases users’ understanding of the results of
an entity and assists in forming expectations of future income and expenditure. There seems to be some consensus
that the performance statement should be divided into three components being the results of operating activities,
financing and treasury activities, and other gains and losses.
Required:
(a) Describe the reasons why the three accounting standards boards have decided to cooperate and produce a
single statement of financial performance. (8 marks)
第2题:
(b) Compute Gloria’s total income tax and national insurance liability for 2006/07. (7 marks)
第3题:
A. salary
B. income tax
C. policy
D. national insurance
第4题:
(ii) Explain how the inclusion of rental income in Coral’s UK income tax computation could affect the
income tax due on her dividend income. (2 marks)
You are not required to prepare calculations for part (b) of this question.
Note: you should assume that the tax rates and allowances for the tax year 2006/07 and for the financial year to
31 March 2007 will continue to apply for the foreseeable future.
第5题:
(ii) Analyse the effect of delaying the sale of the business of the Stiletto Partnership to Razor Ltd until
30 April 2007 on Clint’s income tax and national insurance position.
You are not required to prepare detailed calculations of his income tax or national insurance liabilities.
(4 marks)
(ii) The implications of delaying the sale of the business
The implications of delaying the sale of the business until 30 April would have been as follows:
– Clint would have received an additional two months of profits amounting to £6,920 (£20,760 x 1/3).
– Clint’s trading income in 2006/07 would have been reduced by £13,015 (£43,723 – £30,708), much of which
would have been subject to income tax at 40%. His additional trading income in 2007/08 of £19,935 would all
have been taxed at 10% and 22%.
– Clint is entitled to the personal age allowance of £7,280 in both years. However, it is abated by £1 for every £2
by which his total income exceeds £20,100. Once Clint’s total income exceeds £24,590 (£20,100 + ((£7,280
– £5,035) x 2)), his personal allowance will be reduced to the standard amount of £5,035. Accordingly, the
increased personal allowance would not be available in 2006/07 regardless of the year in which the business was
sold. It is available in 2007/08 (although part of it is wasted) but would not have been if the sale of the business
had been delayed.
– Clint’s class 4 national insurance contributions in 2006/07 would have been reduced due to the fall in the level
of his trading income. However, much of the saving would be at 1% only. Clint is not liable to class 4 national
insurance contributions in 2007/08 as he is 65 at the start of the year.
– Changing the date on which the business was sold would have had no effect on Clint’s class 2 liability as he is
not required to make class 2 contributions once he is 65 years old.
第6题:
(ii) Calculate her income tax (IT) and national insurance (NIC) payable for the year of assessment 2006/07.
(4 marks)
第7题:
(b) (i) Compute the corporation tax liability of Speak Write Ltd for its first trading period on the assumption
that the IR 35 legislation applies to all of its income. (2 marks)
第8题:
A. up
B.--
C. in
D. to
第9题:
(b) (i) Explain, by reference to Coral’s residence, ordinary residence and domicile position, how the rental
income arising in respect of the property in the country of Kalania will be taxed in the UK in the tax year
2007/08. State the strategy that Coral should adopt in order to minimise the total income tax suffered
on the rental income. (7 marks)
第10题:
Personal income 个人收入
衡量税收抵扣前收入的一个指标,确切地说,等于可支配个人收入加上净税收。