Oucation Thres (Mark) You should me that today's date is 15 February 2019. You are dealing with the tax affairs of Nancy and stand John Personal pension contribution: Nancy is self-employed and her inding of for the year end 31 December 2018 is 130,000. She will have any other income or outings for the tax year 2018-19. Nancy is planning to make a personal pension is of 32.000 (net) before 5 April 2019. and would like to know the won of income tax and lin e betons (NIC) which she will save of making the pension contribution laheritance Taxi Nancy, who knows nothing about inheritance tax (HT) is concermed about the amount of BHT which will be payable when she and John die. The couple's combined chargable estate is valued at ESO,000 for purposes. The state includes a main residence valued at 160,000 Under them s of their wills, Nancy and later ve initially left their entire states to cach other. Then when the second of them dies, the total state of 580,000 will be left to the couple's children 25.000 The couple are more whether to change the term of their wills so that it with are left to their children when the first of them die Neither Nancy ner Jou have made my lifetime gifts. Required: (a) Calculate the reduction in Nancy's income tax liability and for the tax year 2018-19 if she makes the perspec t ive of 2,000 net before 5 April 2019, Ne Yar a re full options b) Calculate the amount of IHT pohley , were Nancy and on both in the new fure, and explain whether or not it might be beneficial to leave assets worth C325.000 to their child when the first of them dies Note: You should me that the read thresholds remain unchanged Question Four: (20 Marks) You are dealing with the tax affairs of City Trends limited company known as City City Lid: City Led comment ing on April 2017. The company's results are Yeranded Yew ended 31 March 2018 31 March 2019 67. 23,400 Trading profiles) Property business incomess) Chargeable pains Qualifying cable des (111.300) (26.400) SO (6.000) (6600 Required: On the basis that City Lad claims relief for its losses as early as possible, calculate the table total profits of City Lad for the years onded $1 March 2018 and 31 March 2019. c) Explain which aspect of City Lad's loss reliclaim made in part is not beneficial for the company to make Qurar Thre (Mark You should me that today's date is 15 February 2019. Yo we dealing with the of Nancy and hand John Personal pension contribution: Nancy is self-employed and her trading profit for the yewended 31 December 2015 130,000. She will not have any other income or otings for the year 2018-19 Nancy is planning to make a personal pension of 32.000 (net) home 5 A 2019. and would like to know the one and ine c es (NIC) which she will save as a result of making the pension Taheritance Tas Nancy, who knows nothing about inheritance tax (ITis concermed about the amo which will be able when she and the die. The couple's combined charge s valued at 80,000 for purposes. The state includes a mais residence valued 60.000 Under the terms of their wills, Nancy and lot have initially left their entire states to ach other. Then when the second of them dies, the total of 000 will be the couple's children. of their wills that we 5. The couple are not ware whether to change them are left to their children when the first of them die Neither Nancy or jou have made my lifetime gifts. Required: (a) Calculate the reduction in Nancy's income tax liability and NCS for the ten year 2015-19 if she makes the personal pension a tion of 632.000 net before 5 April 2019 No Ye p are full (b) Calculate the amount of IHT payable, any were Nancy and both in the future, and explain whether or not it might be beneficial to leave assets worth 25.000 child when the first of them di Notes You should assume that the IT rates and thresholdsremain unchanged Question. For You are dealing with the tax affairs of Clyde med c y wny City Lad: City La commenced wading on April 2017. The company's results are Year ended Year ended 31 March 2018 31 March 2009 67 DO ) Trading pooss) Property business comes Charpeable gains Qualifying charitable des (111,100 (26,400) 3. 16000) 16200 1600 Regained: (i) the thesis that my Lad claims relief for its losses as carly as possibile, calculate the total profits of City for the year ended March 2013 and 31 March 2012 (ii) Explain which aspect of City Lad's loss relief claim made in partis beneficial company to make the Qurar Thre (Mark You should me that today's date is 15 February 2019. Yo we dealing with the of Nancy and hand John Personal pension contribution: Nancy is self-employed and her trading profit for the yewended 31 December 2015 130,000. She will not have any other income or otings for the year 2018-19 Nancy is planning to make a personal pension of 32.000 (net) home 5 A 2019. and would like to know the one and ine c es (NIC) which she will save as a result of making the pension Taheritance Tas Nancy, who knows nothing about inheritance tax (ITis concermed about the amo which will be able when she and the die. The couple's combined charge s valued at 80,000 for purposes. The state includes a mais residence valued 60.000 Under the terms of their wills, Nancy and lot have initially left their entire states to ach other. Then when the second of them dies, the total of 000 will be the couple's children. of their wills that we 5. The couple are not ware whether to change them are left to their children when the first of them die Neither Nancy or jou have made my lifetime gifts. Required: (a) Calculate the reduction in Nancy's income tax liability and NCS for the ten year 2015-19 if she makes the personal pension a tion of 632.000 net before 5 April 2019 No Ye p are full (b) Calculate the amount of IHT payable, any were Nancy and both in the future, and explain whether or not it might be beneficial to leave assets worth 25.000 child when the first of them di Notes You should assume that the IT rates and thresholdsremain unchanged Question. For You are dealing with the tax affairs of Clyde med c y wny City Lad: City La commenced wading on April 2017. The company's results are Year ended Year ended 31 March 2018 31 March 2009 67 DO ) Trading pooss) Property business comes Charpeable gains Qualifying charitable des (111,100 (26,400) 3. 16000) 16200 1600 Regained: (i) the thesis that my Lad claims relief for its losses as carly as possibile, calculate the total profits of City for the year ended March 2013 and 31 March 2012 (ii) Explain which aspect of City Lad's loss relief claim made in partis beneficial company to make the Oucation Thres (Mark) You should me that today's date is 15 February 2019. You are dealing with the tax affairs of Nancy and stand John Personal pension contribution: Nancy is self-employed and her inding of for the year end 31 December 2018 is 130,000. She will have any other income or outings for the tax year 2018-19. Nancy is planning to make a personal pension is of 32.000 (net) before 5 April 2019. and would like to know the won of income tax and lin e betons (NIC) which she will save of making the pension contribution laheritance Taxi Nancy, who knows nothing about inheritance tax (HT) is concermed about the amount of BHT which will be payable when she and John die. The couple's combined chargable estate is valued at ESO,000 for purposes. The state includes a main residence valued at 160,000 Under them s of their wills, Nancy and later ve initially left their entire states to cach other. Then when the second of them dies, the total state of 580,000 will be left to the couple's children 25.000 The couple are more whether to change the term of their wills so that it with are left to their children when the first of them die Neither Nancy ner Jou have made my lifetime gifts. Required: (a) Calculate the reduction in Nancy's income tax liability and for the tax year 2018-19 if she makes the perspec t ive of 2,000 net before 5 April 2019, Ne Yar a re full options b) Calculate the amount of IHT pohley , were Nancy and on both in the new fure, and explain whether or not it might be beneficial to leave assets worth C325.000 to their child when the first of them dies Note: You should me that the read thresholds remain unchanged Question Four: (20 Marks) You are dealing with the tax affairs of City Trends limited company known as City City Lid: City Led comment ing on April 2017. The company's results are Yeranded Yew ended 31 March 2018 31 March 2019 67. 23,400 Trading profiles) Property business incomess) Chargeable pains Qualifying cable des (111.300) (26.400) SO (6.000) (6600 Required: On the basis that City Lad claims relief for its losses as early as possible, calculate the table total profits of City Lad for the years onded $1 March 2018 and 31 March 2019. c) Explain which aspect of City Lad's loss reliclaim made in part is not beneficial for the company to make Qurar Thre (Mark You should me that today's date is 15 February 2019. Yo we dealing with the of Nancy and hand John Personal pension contribution: Nancy is self-employed and her trading profit for the yewended 31 December 2015 130,000. She will not have any other income or otings for the year 2018-19 Nancy is planning to make a personal pension of 32.000 (net) home 5 A 2019. and would like to know the one and ine c es (NIC) which she will save as a result of making the pension Taheritance Tas Nancy, who knows nothing about inheritance tax (ITis concermed about the amo which will be able when she and the die. The couple's combined charge s valued at 80,000 for purposes. The state includes a mais residence valued 60.000 Under the terms of their wills, Nancy and lot have initially left their entire states to ach other. Then when the second of them dies, the total of 000 will be the couple's children. of their wills that we 5. The couple are not ware whether to change them are left to their children when the first of them die Neither Nancy or jou have made my lifetime gifts. Required: (a) Calculate the reduction in Nancy's income tax liability and NCS for the ten year 2015-19 if she makes the personal pension a tion of 632.000 net before 5 April 2019 No Ye p are full (b) Calculate the amount of IHT payable, any were Nancy and both in the future, and explain whether or not it might be beneficial to leave assets worth 25.000 child when the first of them di Notes You should assume that the IT rates and thresholdsremain unchanged Question. For You are dealing with the tax affairs of Clyde med c y wny City Lad: City La commenced wading on April 2017. The company's results are Year ended Year ended 31 March 2018 31 March 2009 67 DO ) Trading pooss) Property business comes Charpeable gains Qualifying charitable des (111,100 (26,400) 3. 16000) 16200 1600 Regained: (i) the thesis that my Lad claims relief for its losses as carly as possibile, calculate the total profits of City for the year ended March 2013 and 31 March 2012 (ii) Explain which aspect of City Lad's loss relief claim made in partis beneficial company to make the Qurar Thre (Mark You should me that today's date is 15 February 2019. Yo we dealing with the of Nancy and hand John Personal pension contribution: Nancy is self-employed and her trading profit for the yewended 31 December 2015 130,000. She will not have any other income or otings for the year 2018-19 Nancy is planning to make a personal pension of 32.000 (net) home 5 A 2019. and would like to know the one and ine c es (NIC) which she will save as a result of making the pension Taheritance Tas Nancy, who knows nothing about inheritance tax (ITis concermed about the amo which will be able when she and the die. The couple's combined charge s valued at 80,000 for purposes. The state includes a mais residence valued 60.000 Under the terms of their wills, Nancy and lot have initially left their entire states to ach other. Then when the second of them dies, the total of 000 will be the couple's children. of their wills that we 5. The couple are not ware whether to change them are left to their children when the first of them die Neither Nancy or jou have made my lifetime gifts. Required: (a) Calculate the reduction in Nancy's income tax liability and NCS for the ten year 2015-19 if she makes the personal pension a tion of 632.000 net before 5 April 2019 No Ye p are full (b) Calculate the amount of IHT payable, any were Nancy and both in the future, and explain whether or not it might be beneficial to leave assets worth 25.000 child when the first of them di Notes You should assume that the IT rates and thresholdsremain unchanged Question. For You are dealing with the tax affairs of Clyde med c y wny City Lad: City La commenced wading on April 2017. The company's results are Year ended Year ended 31 March 2018 31 March 2009 67 DO ) Trading pooss) Property business comes Charpeable gains Qualifying charitable des (111,100 (26,400) 3. 16000) 16200 1600 Regained: (i) the thesis that my Lad claims relief for its losses as carly as possibile, calculate the total profits of City for the year ended March 2013 and 31 March 2012 (ii) Explain which aspect of City Lad's loss relief claim made in partis beneficial company to make the