James died on 22 January 2015. He had made the following gifts during his lifetime:
(1) On 9 October 2007, a cash gift of £35,000 to a trust. No lifetime inheritance tax was payable in respect of this gift.
(2) On 14 May 2013, a cash gift of £420,000 to his daughter.
(3) On 2 August 2013, a gift of a property valued at £260,000 to a trust. No lifetime inheritance tax was payable in respect of this gift because it was covered by the nil rate band. By the time of James’ death on 22 January 2015, the property had increased in value to £310,000.
On 22 January 2015, James’ estate was valued at £870,000. Under the terms of his will, James left his entire estate to his children.
The nil rate band of James’ wife was fully utilised when she died ten years ago.
The nil rate band for the tax year 2007–08 is £300,000, and for the tax year 2013–14 it is £325,000.
Required:
(a) Calculate the inheritance tax which will be payable as a result of James’ death, and state who will be responsible for paying the tax. (6 marks)
(b) Explain why it might have been beneficial for inheritance tax purposes if James had left a portion of his estate to his grandchildren rather than to his children. (2 marks)
(c) Explain why it might be advantageous for inheritance tax purposes for a person to make lifetime gifts even when such gifts are made within seven years of death.
Notes:
1. Your answer should include a calculation of James’ inheritance tax saving from making the gift of property to the trust on 2 August 2013 rather than retaining the property until his death.
2. You are not expected to consider lifetime exemptions in this part of the question. (2 marks)
第1题:
第2题:
第3题:
You are signing on a deck officer,who will be designated as one of the GMDSS operators,before sailing foreign.Which statement is TRUE ________.
A.He/she must have an STCW certificate endorsed as“Valid for Service on Vessels Operating in the GMDSS System”
B.He/she must present either an FCC-issued license or a Coast Guard-issued license
C.You must consult the“List of Qualifications”on the reverse of his/her FCC-issued license
D.His/her Merchant Mariners Document must have an added endorsement as “Radio Electronics Officer”
第4题:
22.
A. He
B.She
C. Her
D. His
第5题:
A.mountdev/had1/winsys
B.mount/dev/had1/winsys
C.mount/dev/had1winsys
D.mountdev/had1winsys
第6题:
A、His束
B、James旁路束
C、Kent束
D、Mahaim纤维
E、Brechenmacher房-束旁道
第7题:
A. followed,followed
B. followed,following
C. following,followed
D. following,following
第8题:
A、his’
B、his
C、he’s
D、he
第9题:
A decision must be ______immediately _______stop the factory ______waste water without being treated.
A. made, to, pouring
B. made,不填, to pour
C. done,不填, pouring
D. had, to, to pour
参考译文;我们应该立即做一个决定来禁止工厂排放未经处理的污水。“做决定”应该是“make a decision”,故排除C、D。”禁止工厂排放未经处理的污水”是这个决定的目的,故应该用动词不定式“to stop”表目的,综合这两点考虑可知正确答案为A。现在分词“pouring”引导的短语做宾语补足语修饰限制 factory。