Assume that there are 12 frequencies (f1-f12) in the hopping frequency set. What defa
A.0, 1, 2, 3, 4, 5, and 6
B.1, 2, 3, 4, 5, 6, and 7
C.0, 2, 4, 6, 8, 10, and 1
D.1, 3, 5, 7, 9, 11, and 0
E.0, 3, 6, 9, 1, 4, and 7
A.0, 1, 2, 3, 4, 5, and 6
B.1, 2, 3, 4, 5, 6, and 7
C.0, 2, 4, 6, 8, 10, and 1
D.1, 3, 5, 7, 9, 11, and 0
E.0, 3, 6, 9, 1, 4, and 7
We can assume from the passage that ______.
A. red beards were more fashionable than black ones
B. everyone in fourteenth-century Spain shaved
C. false beards were considered foolish by those who had real beards
D. the popularity of false beards largely died out after the fourteenth century
Assume that the rates and allowances for 2004/05 apply throughout this part.
(b) Explain the consequences of filing the VAT returns late and advise Fred how he should deal with the
underpayment and bad debt for VAT purposes. Your explanation should be supported by relevant
calculations. (10 marks)
(b) Calculate the taxable benefit in 2005/06 if Jan were to use the accommodation offered by his employer. You
may assume that the rules for calculating benefits are the same as in 2004/05. (3 marks)
Assume that the corporation tax rates for the financial year 2004 apply throughout.
(b) Explain the corporation tax (CT) and value added tax (VAT) issues that Irroy should be aware of, if she
proceeds with her proposal for the Irish subsidiary, Green Limited. Your answer should clearly identify those
factors which will determine whether or not Green Limited is considered UK resident or Irish resident and
the tax implications of each alternative situation.
You need not repeat points that are common to each situation. (16 marks)
(c) Assuming that she will survive until July 2009, advise on the lifetime inheritance tax (IHT) planning
measures that could be undertaken by Debbie, quantifying the savings that can be made. (7 marks)
For this question you should assume that the rates and allowances for 2004/05 apply throughout.
(d) Calculate the ex dividend share price predicted by the dividend growth model and discuss the company’s
view that share price growth of at least 8% per year would result from expanding into the retail camera
market. Assume a cost of equity capital of 11% per year. (6 marks)
(b) Explain why making sales of Sabals in North America will have no effect on Nikau Ltd’s ability to recover its
input tax. (3 marks)
Notes: – you should assume that the corporation tax rates and allowances for the financial year to 31 March 2007
will continue to apply for the foreseeable future.
– you should ignore indexation allowance.
(c) Calculate the theoretical ex rights price per share and the net funds to be raised by the rights issue, and
determine and discuss the likely effect of the proposed expansion on:
(i) the current share price of Merton plc;
(ii) the gearing of the company.
Assume that the price–earnings ratio of Merton plc remains unchanged at 12 times. (11 marks)
(c) The inheritance tax payable by Adam in respect of the gift from his aunt. (4 marks)
Additional marks will be awarded for the appropriateness of the format and presentation of the memorandum and
the effectiveness with which the information is communicated. (2 marks)
Note: you should assume that the tax rates and allowances for the tax year 2006/07 will continue to apply for the
foreseeable future.
(ii) The answers to any questions that the potential investors may raise in connection with the maximum
possible investment, borrowing to finance the subscription and the implications of selling the shares.
(7 marks)
Note: you should assume that Vostok Ltd and its trade qualify for the purposes of the enterprise investment
scheme and you are not required to list the conditions that need to be satisfied by the company, its
shares or its business activities.