4 Coral is the owner and managing director of Reef Ltd. She is considering the manner in which she will make her first
pension contributions. In November 2007 she inherited her mother’s house in the country of Kalania.
The following information has been extracted from client files and from telephone conversations with Coral.
Coral:
– 1972 – Born in the country of Kalania. Her father, who died in 2002, was domiciled in Kalania.
– 1999 – Moved to the UK and has lived and worked here since then.
– 2001 – Subscribed for 100% of the ordinary share capital of Reef Ltd.
– Intends to sell Reef Ltd and return to live in the country of Kalania in 2012.
– No income apart from that received from Reef Ltd.
Reef Ltd:
– A UK resident company with annual profits chargeable to corporation tax of approximately ￡70,000.
– Four employees including Coral.
– Provides scuba diving lessons to members of the public.
Payments from Reef Ltd to Coral in 2007/08:
– Director’s fees of ￡460 per month.
– Dividends paid of ￡14,250 in June 2007 and ￡14,250 in September 2007.
Pension contributions:
– Coral has not so far made any pension contributions in the tax year 2007/08 but wishes to make gross pension
contributions of ￡9,000.
– The contributions are to be made by Reef Ltd or Coral or a combination of the two in such a way as to minimise
the total after tax cost.
– Any contributions made by Coral will be funded by an additional dividend from Reef Ltd.
House in the country of Kalania:
– Beachfront property with potential rental income of ￡550 per month after deduction of allowable expenditure.
– Coral will use it for holidays for two months each year.
The tax system in the country of Kalania:
– No capital gains tax or inheritance tax.
– Income tax at 8% on income arising in the country of Kalania.
– No double tax treaty with the UK.
Required:
(a) With the objective of minimising the total after tax cost, advise Coral as to whether the gross pension
contributions of ￡9,000 should be made:
– wholly by Reef Ltd; or
– by Coral to the extent that they are tax allowable with the balance made by Reef Ltd.
Your answer should include supporting calculations where necessary. (9 marks)
第1题：
Mary has just returned to the USA after studying in England for three years. She decided to study at a British university rather than an American one because her mother is from England and she wanted to get to know her mother抯 family better. She studied English Literature at Goldsmiths?College, which is in London. She lived with her grandmother while she was studying. The college was recommended by a friend抯 brother who had studied in England for his MBA. Mary told her friends that she was going to return to Europe to work because she had enjoyed her time in England so much.
(1). Mary is now in ().
A、 England
B、France
C、the USA
(2). She studied at () university.
A、a Chinese
B、an American
C、a British
(3). Most probably, her grandmother ().
A、 worked in the college
B、lived in London
C、studied English Literature
(4). Her friend’s brother recommended her to ().
A、 study in the college
B、study for her MBA
C、work for his company
(5). Mary would return to Europe to ().
A、 study
B、spend her holiday
C、work
第2题：
Mother wanted to be a good provider, a role she _____ since her marriage to Father.
A.shoulders
B.shouldered
C.is shouldering
D.has been shouldering
第3题：
Anna is our only daughter. My wife and I have two sons, and Anna is the youngest in the family, but she's twenty-five now. Anna was not well when she was little. It was a very worrying time and she stayed at home a lot. She was seen first by the local doctors, and then she was sent to a specialist in Cardiff where she was diagnosed as diabetic. It was my wife who mainly took care of her then. I am not very good at looking after little children. I suppose I am a bit traditional in that way. But when she grew up a bit, we spent a lot of time together. We loved walking and talking and discussing life. We still love it today. We get on very well. Although she looks like me (tall, dark hair, dark eyes and dark skin), she takes after her mother: she is artistic and musical, and like her mother she's attractive. She loves looking after animals - she has two dogs, three cats and a goat. She lives in a little house in the country. I like animals too. I like riding and hunting, but Anna hates hunting. She thinks it's cruel. We discuss it a lot. She is quiet and a bit shy with strangers. I am more outgoing and I love meeting new people. But she's not boring - actually, she's very funny. She always has lots of stories of her life in the country. She's an art and music teacher in a little village school. She is very good-natured. Anna says we brought her up well, and she's going to bring her children up to be honest and loyal. But I think she was easy to bring up. I don't remember ever telling her off.
1.According to the passage, when Anna was a child, she ().
2. It can be inferred from the passage the author thinks looking after little children is ().
3. What does 'take after' mean in the first sentence of Para. 2?
4. My daughter and I have little in common in terms of ().
5. From the passage, we can see the author's description of his daughter is ().
(1).A、got an illness
B、was very queer
C、didn't look like the author
(2).A、his advantage
B、mainly a woman's responsibility
C、really enjoyable
(3).A、look after
B、be different from
C、look like
(4).A、loving walking and talking
B、character
C、loving animals
(5).A、affectionate
B、humorous
C、critical
第4题：
A、to
B、of
C、for
D、about
第5题：
The Extended Family
Mrs Sharp, a large, red-faced woman in her late sixties, has lived in Greenleas, a 'new town' in the countryside outside London, since 1958. Before that she lived in Bethnal Green, an area of inner London. She was moved to Greenleas by the local authorities when her old house was demolished.
She came from a large family with six girls and two boys, and she grew up among brothers, sisters, uncles, aunts, grandparents and cousins. When she married her boyfriend from school at eighteen, they went on living with her parents, and her first child was brought up more by her mother than by herself, because she always worked.
As the family grew, they moved out of their parents' house to a flat. It was in the next street, and their life was still that of the extended family. "All my family used to live around Denby Street," said Mrs Sharp, "and we were always in and out of each other's houses." When she went to the shops, she used to call in on her mother to see if she wanted anything. Every day she would visit one sister or another and see a nephew or niece at the corner shop or in the market.
"You always knew 90% of the people you saw in the street everyday, either they were related to you or you were at school with them," she said.
When her babies were born (she had two sons and a daughter), she said, "All my sisters and neighbours would help – they used to come and make a cup of tea, or help in some other way." And every Saturday night there was a family party. It was at Mrs Sharp's mother's house. "Of course we all know each other very well. You have to learn to get on with each other. I had one neighbour who was always poking her nose into our business. She was forever asking questions and gossiping. But you had to put up with everyone, whatever they were like."
1.Why did Mrs. Sharp have to move to Greenleas? ()
A.Because she had to work there.
B.Because she didn’t like the old place at all.
C.Because her house in the downtown area was knocked down.
2.When she got married, she lived ______.
A.together with her parents all the time
B.together with her parents for some time
C.far away from her parents’ house
3.Why did she know so many people? ()
A.Because she was easy going.
B.Because they were either her relatives or schoolmates.
C.Because she was good at making friends with people.
4.The sentence “I had one neighbour who was always poking her nose into our business.” in the last Para. means ______.
A.I had one neighbour who was always warm-hearted.
B.I had one neighbour who was always ready to help us.
C.I had one neighbour who always showed her interests in our private affairs.
5.What does this passage mainly deal with? ()
A.What the extended family is like.
B.The relationship between Mrs Sharp and her neighbour.
C.How Mrs Sharp brings her children up.
第6题：
B
When Mary Moore began her high school in 1951, her mother told her, "Be sure and take a typing course so when this show business thing doesn't work out, you'll have something to rely on." Mary responded in typical teenage fashion. From that moment on, "the very last thing I ever thought about doing was taking a typing course," she recalls.
The show business thing worked out, of course. In her career, Mary won many awards. Only recently, when she began to write Growing Up Again, did she regret ignoring her morn," I don't know how to use a computer," she admits.
Unlike her 1995 autobiography, After All, her second book is less about life as an
award-winning actress and more about living with diabetes (糖尿病). All the money from the book is intended for the Juvenile Diabetes Research Foundation (JDRF), an organization she serves as international chairman. "I felt there was a need for a book like this," she says."I didn't want to lecture, but I wanted other diabetics to know that things get better when we're self-controlled and do our part in managing the disease."
But she hasn't always practiced what she teaches. In her book, she describes that awful day, almost 40 years ago, when she received two pieces of life-changing news. First, she had lost the baby she was carrying, and second, tests showed that she had diabetes. In a childlike act, she left the hospital and treated herself to a box of doughnuts (甜甜圈). Years would pass before she realized she had to grow up--again---and take control of her diabetes, not let it control her. Only then did she kick her three-pack-a-day cigarette habit, overcome her addiction to alcohol, and begin to follow a balanced diet.
Although her disease has affected her eyesight and forced her to the sidelines of the dance floor, she refuses to fall into self-pity. "Everybody on earth can ask, 'why me?' about something or other," she insists. "It doesn't do any good. No one is immune (免疫的) to heartache, pain, and disappointments. Sometimes we can make things better by helping others. I've come to realize the importance of that as I've grown up this second time. I want to speak out and be as helpful as I can be."
61. Why did Mary feel regretful?
A. She didn't achieve her ambition.
B. She didn't take care of her mother.
C. She didn't complete her high school.
D. She didn't follow her mother's advice.
第7题：
A、run out of
B、run short of
C、is short of
D、is short
第8题：
Last week Polly decided to give up her job. She is fed up with it, she finds it boring and she wants to change her career. Her employers, 慙ucky Shops? are not too bad. They give her quite good benefits, such as free lunches and paid holidays, but she does not get on with her boss. Her salary is quite good, but, because she is not happy, she wants to look for something else. Last Saturday she talked about it with David and Xiaoyan. They agreed with her. They said she should resign and try another career, so she took action. She looked at advertisements in the paper and picked out three jobs that looked interesting. She had to write out her CV to apply for a job, and she did that on Wednesday evening. Xiaoyan helped her with it. She has a lot of experience of selling and good business training but is worried about her lack of experience in some areas.
(1). Polly has decided to ask for a higher salary.
A、 Right
B、Wrong
(2). She doesn’t like her boss.
A、 Right
B、Wrong
(3). Her friends agreed that she should resign.
A、 Right
B、Wrong
(4). She has experience of teaching.
A、 Right
B、Wrong
(5). She’s worried about her lack of experience in some areas.
A、 Right
B、Wrong
第9题：
She has been ill for a month, which set her () in her studies.
A、back
B、off
C、down
D、in
第10题：
Linda, what’s wrong with your grandmother?().
A、 She is not retired
B、 She hurt her leg.
C、 She got a new house.