Unit 1, Topic 3 Flashcards
Which of the following people would be most likely to be a ‘UK resident’?
A) Susan, who normally lives in Spain but spends three months a year working for the family business in England.
B) Antoine, a French surveyor, whose eight-month contract in Devon with a construction company started in May.
C) Max, who moved to London from Cologne on 6 January for a seven-month teaching contract
D) Brenda, who spends 180 days a year in the U and the remainder in the USA.
B) Antoine, a French surveyor, whose eight-month contract in Devon with a construction company started in May.
Which of the following will not be subject to UK inheritance tax upon death?
A) UK property owned by Paolo, who has lived in the UK for three years but is not UK domiciled.
B) Overseas property owned by Kavita, who was born in the US (to American parents) but has lived in the UK for the past 18 years.
C) Overseas property owned by Helena, who is UK resident but not UK domiciled nor deemed domiciled.
D) Overseas property owned by David, who is UK domiciled but resident in France.
C) Overseas property owned by Helena, who is UK resident but not UK domiciled nor deemed domiciled.
For a child, which of the following would be subject to income tax?
A) All earned income
B) An educational grant
C) Any earned income that exceeds their personal allowance
D) A settlement from their parents
C) Any earned income that exceeds their personal allowance
Which of the following in not assessable for income tax purposes?
A) Tips
B) Interest from bank and buildings society deposits
C) Lottery prizes
D) Rents from land and property
C) Lottery prizes
A person who is a UK resident for tax purposes only pays income tax on earnings generated in the UK. True or False
False
A person may become UK domiciled once they have been settled in the country for a number of years. True or False
True
Blind person’s allowance can be transferred to a spouse or civil partner if the blind person does not use their allowance. True or False
True
