更多服务

特色服务

找学习资源

查报考信息

看备考资讯

备考工具箱

报考指南

报考条件

就业前景

报考流程

考试日历

资料中心

注册流程

准考证

免费题库

全部

ACCA考试复习回顾《税务F6》辅导3

来源：高顿网校 2015-03-23

　　CHARGEABLE GAINS

　　RELATED LINKS

　　PDF version

　　This article looks at chargeable gains in either a personal or corporate context. This article is relevant to candidates sitting Paper F6 （UK） in 2013

　　This two-part article is relevant to candidates sitting Paper F6 （UK） in either the June or December 2013 sittings, and is based on tax legislation as it applies to the tax year 201213 （Finance Act 2012）。

　　Question 3 of Paper F6 （UK） focuses on chargeable gains in either a personal or a corporate context, and will be for 15 marks. A small element of chargeable gains may also be included in any of the other questions.

　　PERSONAL CHARGEABLE GAINS

　　Scope of capital gains tax （CGT） CGT is charged when there is a chargeable disposal of a chargeable asset by a chargeable person.

　　A chargeable disposal includes part disposals and the gift of assets. However, the transfer of an asset upon death is an exempt disposal. A person who inherits an asset takes it over at its value at the time of death.

　　Example 1 On 19 May 1998 Jorge purchased an acre of land for 20,200. He died on 20 June 2012, and the land was inherited by his son, William. On that date the land was valued at 71,600.

　　The transfer of the land on Jorgeˇs death is an exempt disposal.

　　William will take over the land with a base cost of 71,600.

　　All forms of property are chargeable assets unless exempted. The most important exempt assets as far as Paper F6 （UK） is concerned are:

　　Certain chattels （see later）

　　Motor cars

　　UK Government securities （Gilts）

　　In determining whether or not an individual is chargeable to CGT it is necessary to consider their residence status.

　　Example 2 Explain when a person will be treated as resident or ordinarily resident in the UK for a particular tax year and state how a personˇs residence status establishes whether or not they are liable to CGT.

　　A person will be resident in the UK during a tax year if they are present in the UK for 183 days or more.

　　A person will also be treated as resident if they make substantial visits to the UK, with visits averaging 91 days or more over four consecutive tax years.

　　Ordinary residence is not precisely defined, but a person will normally be ordinarily resident in the UK if this is where they habitually reside.

　　A person is liable to CGT on the disposal of assets during any tax year in which they are either resident or ordinarily resident in the UK.

　　Basic computation For individuals the basic CGT computation is quite straightforward.

　　Example 3 Andy sold a factory on 15 February 2013 for 320,000. The factory was purchased on 24 January 1994 for 164,000, and was extended at a cost of 37,000 during March 2004. During May 2006 the roof of the factory was replaced at a cost of 24,000 following a fire.

　　Andy incurred legal fees of 3,600 in connection with the purchase of the factory, and legal fees of 5,800 in connection with the disposal.

　　Andyˇs taxable gain for 201213 is as follows: 

　　 Disposal proceeds 320,000

　　Cost

　　164,000

　　Enhancement expenditure 37,000

　　Incidental costs （3,600 + 5,800）

　　9,400

　　_______ （210,400）

　　________ Chargeable gain 109,600

　　Annual exempt amount

　　（10,600） _______

　　Taxation gain

　　99,000 _______

　　The factory extension is enhancement expenditure as it has added to the value of the factory.

　　The replacement of the roof is not enhancement expenditure, being in the nature of a repair.

　　Note that the standardised term ˉchargeable gainˇ refers to the gain before deducting the annual exempt amount, while the term ˉtaxable gainˇ refers to the gain after deducting the annual exempt amount.

　　Capital losses Capital losses are set off against any chargeable gains arising in the same tax year, even if this results in the annual exempt amount being wasted. Any unrelieved capital losses are carried forward, but in future years they are only set off to the extent that the annual exempt amount is not wasted.

　　Example 4 For the tax year 201213 Nim has chargeable gains of 17,600. He has unused capital losses of 16,700 brought forward from the tax year 201112.

　　 Chargeable gains 17,600

　　Capital losses brought forward

　　（7,000） _______

　　Chargeable gains

　　10,600 Annual exempt amount （10,600）

　　_______ Taxable gains Nil

　　_______

　　The set off of the brought forward capital losses is restricted to 7,000 （17,600  10,600） so that chargeable gains are reduced to the amount of the annual exempt amount.

　　Nim therefore has capital losses carried forward of 9,700 （16,700  7,000）。

　　Rates of CGT The rate of CGT is linked to the level of a personˇs taxable income. Taxable gains are taxed at a lower rate of 18% where they fall within the basic rate tax band of 34,370, and at a higher rate of 28% where they exceed this threshold. Remember that the basic rate band is extended if a person pays personal pension contributions or makes a gift aid donation.

　　CGT is collected as part of the self-assessment system, and is due in one amount on 31 January following the tax year. Therefore, a CGT liability for the tax year 201213 will be payable on 31 January 2014. Payments on account are not required in respect of CGT.

　　Example 5 For the tax year 201213 Adam has a salary of 40,105, and during the year he made net personal pension contributions of 4,400. On 15 August 2012 Adam sold an antique table and this resulted in a chargeable gain of 17,400.

　　For the tax year 201213 Bee has a trading profit of 58,105. On 20 August 2012 she sold an antique vase and this resulted in a chargeable gain of 18,600.

　　For the tax year 201213 Chester has a salary of 36,105. On 25 August 2012 he sold an antique clock and this resulted in a chargeable gain of 23,800.

　　Adam Adamˇs taxable income is 32,000 （40,105 less the personal allowance of 8,105）。 His basic rate tax band is extended to 39,870 （34,370 + 5,500 （4,400 x 100/80））， of which 7,870 （39,870  32,000） is unused.

　　Adamˇs taxable gain of 6,800 （17,400 less the annual exempt amount of 10,600） is fully within the unused basic rate tax band, so his CGT liability for 201213 is therefore 1,224 （6,800 at 18%）。

　　Bee Beeˇs taxable income is 50,000 （58,105  8,105）， so all of her basic rate tax band has been used. The CGT liability for 201213 on her taxable gain of 8,000 （18,600  10,600） is therefore 2,240 （8,000 at 28%）。

　　Chester Chesterˇs taxable income is 28,000 （36,105  8,105）， so 6,370 （34,370  28,000） of his basic rate tax band is unused. The CGT liability for 201213 on Chesterˇs taxable gain of 13,200 （23,800  10,600） is therefore calculated as follows:

　　 6,370 at 18% 1,147

　　6,830 at 28%

　　1,912 _______

　　3,059 _______

　　In each case, the CGT liability will be due on 31 January 2014.

　　Entrepreneursˇ relief A reduced CGT rate of 10% applies if a disposal qualifies for entrepreneursˇ relief. This rate applies regardless of the level of a personˇs taxable income. Entrepreneursˇ relief can be claimed when an individual disposes of a business or a part of a business as follows:

　　A disposal of the whole or part of a business run as a sole trader. Relief is only available in respect of chargeable gains arising from the disposal of assets in use for the purpose of the business. This will exclude chargeable gains arising from investments.

　　The disposal of shares in a trading company where an individual has at least a 5% shareholding in the company and is also an officer or an employee of the company. Provided the limited company is a trading company, there is no restriction to the amount of relief if it holds non-trading assets such as investments.

　　The relief covers the first 10m of qualifying gains that a person makes during their lifetime. Gains in excess of the 10m limit are taxed as normal at the 18% or 28% rates.

　　Assets must have been owned for one year prior to the date of disposal in order to qualify, and the qualifying conditions must have been met for a similar period.

　　Example 6 On 15 October 2012 the four shareholders of Alphabet Ltd, an unquoted trading company, all sold their shares in the company. Alphabet Ltd has a share capital of 100,000 1 ordinary shares.

　　Aloi had been the managing director of Alphabet Ltd since the companyˇs incorporation on 1 January 2002. She had held 60,000 shares since 1 January 2002.

　　Bon had been the sales director of Alphabet Ltd since 1 February 2012, having not previously been an employee of the company. She had held 25,000 shares since 1 February 2012.

　　Cherry had never been an employee or a director of Alphabet Ltd. She had held 12,000 shares since 27 July 2005.

　　Dee had been an employee of Alphabet Ltd since 1 May 2003. She had held 3,000 shares since 20 June 2004.

　　刪 Aloiˇs disposal qualified for entrepreneursˇ relief because she was a director of Alphabet Ltd, had a shareholding of 60% （60,000/100,000 x 100）， and these qualifying conditions were met for one year prior to the date of disposal.

　　刪 Bonˇs disposal did not qualify for entrepreneursˇ relief because she only acquired her shareholding and became a director on 1 February 2012. The qualifying conditions were therefore not met for one year prior to the date of disposal.

　　刪 Cherryˇs disposal did not qualify for entrepreneursˇ relief because she was not an officer or an employee of Alphabet Ltd.

　　刪 Deeˇs disposal did not qualify for entrepreneursˇ relief because her shareholding of 3% （3,000/100,000 x 100） was less than the minimum required holding of 5%.

　　Example 7 On 25 January 2013 Michael sold a 30% shareholding in Green Ltd, an unquoted trading company. The disposal resulted in a chargeable gain of 800,000. Michael had owned the shares since 1 March 2006, and was an employee of the company from that date until the date of disposal.

　　He has taxable income of 8,000 for the tax year 201213.

　　Michaelˇs CGT liability for 201213 is as follows:

　　 Chargeable gain 800,000

　　Annual exempt amount

　　（10,600） _______

　　789,400 _______

　　Capital gains tax: 789,400 at 10%

　　78,940 _______

　　Although chargeable gains that qualify for entrepreneursˇ relief are always taxed at a rate of 10%, they must be taken into account when establishing which rate applies to other chargeable gains. Chargeable gains qualifying for entrepreneursˇ relief therefore reduce the amount of any unused basic rate tax band.

　　The annual exempt amount and any capital losses should be initially deducted from those chargeable gains that do not qualify for entrepreneursˇ relief. This approach will save CGT at either 18% or 28%, compared to just 10% if used against chargeable gains that do qualify for relief.

　　There are several ways of presenting computations involving such a mix of gains, but the simplest approach is to keep gains qualifying for entrepreneursˇ relief and other gains separate.

　　Example 8 On 30 September 2012 Mika sold a business that she had run as a sole trader since 1 January 2006. The disposal resulted in the following chargeable gains:

　　 Goodwill 260,000

　　Freehold office building

　　370,000 Freehold warehouse 170,000

　　_______ 800,000

　　_______

　　The assets were all owned for more than one year prior to the date of disposal. The warehouse had never been used by Mika for business purposes.

　　Mika has taxable income of 4,000 for the tax year 201213. She has unused capital losses of 28,000 brought forward from the tax year 201112.

　　Mikaˇs CGT liability for 201213 is as follows:

　　 Gains qualifying for entrepreneursˇ relief 260,000

　　Goodwill

　　370,000 Freehold office building _______

　　630,000 _______

　　Other gains

　　Freehold warehouse 170,000

　　Capital losses brought forward

　　（28,000） _______

　　142,000

　　 Annual exempt amount （10,600）

　　_______ 131,400

　　_______ Capital gains tax: 630,000 at 10% 63,000

　　131,400 at 28%

　　36,792 _______

　　Tax liability

　　99,792 _______

　　通过ACCA考试实属不易，首先要有执着的精神，其次是不断勤奋的学习，高顿网校为大家提供ACCA题库免费做题，希望助大家一臂之力，查看详情》

ACCA网络课程	课程专业名称	讲师	试听
85%的人正在学习该课程	ACCA 全维度网课体验课程实景课堂与独立录制覆盖所有知识点，根据学习计划推进学习进度	高顿名师
70%的人正在学习该课程	ACCA网课全科卡（8.2折）为零基础刚开始学习ACCA的学员特别定制	高顿名师

　　ACCA考试免费题库【手机题库下载】| 在线直播

　　ACCA高清网课免费体验 ACCA名师精品班免费试听

　　精彩推荐：

ACCA到底是什么意思？

ACCA特许公认会计师职业发展与分析

2015年6月ACCA考试常见问题解析

2015年6月ACCA备考辅导专题　　2014年ACCA考试真题和答案汇总

版权声明：本条内容自发布之日起，有效期为一个月。凡本网站注明“来源高顿教育”或“来源高顿网校”或“来源高顿”的所有作品，均为本网站合法拥有版权的作品，未经本网站授权，任何媒体、网站、个人不得转载、链接、转帖或以其他方式使用。经本网站合法授权的，应在授权范围内使用，且使用时必须注明“来源高顿教育”或“来源高顿网校”或“来源高顿”，并不得对作品中出现的“高顿”字样进行删减、替换等。违反上述声明者，本网站将依法追究其法律责任。本网站的部分资料转载自互联网，均尽力标明作者和出处。本网站转载的目的在于传递更多信息，并不意味着赞同其观点或证实其描述，本网站不对其真实性负责。如您认为本网站刊载作品涉及版权等问题，请与本网站联系(邮箱fawu@gaodun.com，电话：021-31587497)，本网站核实确认后会尽快予以处理。

展开全文咨询在线

点一下领资料

【整理版】ACCA各科目历年真题

真题高频考点，刷题全靠这份资料

下载合集

acca全科学习思维导图

梳理核心考点，一图看懂全部章节

下载合集

2023年acca考纲解析

覆盖科目重难点,备考按照计划走

acca备考热门问题解答

acca考试怎么搭配科目？: 建议优先选择相关联的科目进行搭配报考，这样可以提高备考效率，减轻备考压力，1、F1-F4：为随时机考科目，难度较低，这里可以自行随意选择考试顺序。2、F5-F9：如果你的工作的和财务会计或者审计有关、或者你比较擅长财务和审计的话，推荐先考F7和F8。你可以选择一起考ACCA考试科目F7和F8或者先考F7（8）再考F8（7），这就要取决你一次想考几门。3、P阶段：选修科目中，建议企业首选AFM！第二部分科目进行选择，如果AA和SBR掌握学生更好，可以通过选择AAA，如果SBL掌握的好，可以自己选择APM。