ATT Business Tax Paper 2 Test Questions and Answers.

ATT Business Tax Paper 2 Test Questions
and Answers
Question 1
tax point for VAT
Correct Answer
the tax point is the basic tax point being the time when the goods are supplied
unless:
an invoice is issued/payment is made before the basic tax point or an invoice is
supplied late more than 14 days after the basic tax point,
then, the tax point is the invoice or payment date



Question 2
flat rate expense can be claimed on
Correct Answer
business use of motor (HMRC millage instead of running costs, fuel, capital
allowances, depreciation)

business use of home (business hours worked instead of percentage of home used
for business)

home use of business (reduction in claim for each non business resident instead of
percentage of each guest usage)



Question 3
capital allowance treatment on new roof in store room
Correct Answer
nil - SBA




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, Question 4
capital allowance treatment on purchase of solar panels
Correct Answer
eligible for AIA then special rate pool at 6%



Question 5
CGT on sale (assignment) of lease >50 years remaining at sale
Correct Answer
Normal CGT computation



Question 6
Class 1 secondary NIC annual employment allowance amount
Correct Answer
£5,000 pa



Question 7
capital allowance treatment on lifts, escalators and moving walkways
Correct Answer
eligible for AIA then special rate pool at 6%



Question 8
wage provisions do not need to be adjusted from PBT if they are paid within
Correct Answer
9 months from AP end



Question 9
WDA on 50 + grams per km cars
Correct Answer
6%




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