ACCA — Chartered Certified Accountants

🏛️ Advanced Taxation (ATX)
MCQ Practice

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All topics in Advanced Taxation (ATX)

Every topic in the knowledge graph — mapped from the official syllabus and textbook.

Overseas Employment Income
Furnished Holiday Lettings
Business Asset Disposal Relief
R&D Tax Relief Schemes
Trusts and Income Tax
Principal Private Residence Relief
Substantial Shareholding Exemption
EIS and SEIS Reliefs
Salary vs Dividends Planning
Professional Conduct in Taxation
Patent Box Regime
Investors' Relief
Incorporation Relief
Business Property Relief (BPR)
SDLT Multiple Dwellings Relief
Non-Domicile Status and Remittance Basis
EMI Share Option Schemes
VAT Partial Exemption
Company Purchase of Own Shares
Management Buyouts (MBOs)
Gift Hold-Over Relief
Agricultural Property Relief
Quick Succession Relief
ATED (Annual Tax on Enveloped Dwellings)
Capital Gains on Chattels
Pension Contributions and Tax Relief
VCT (Venture Capital Trust) Reliefs
Option to Tax Land and Property
Class 1A National Insurance
Share Incentive Plans (SIP)
Transfer Pricing Rules
Close Companies and Associated Companies
Capital Gains Rollover Relief and EIS Deferral
IHT: Lifetime Transfers and Death Estate
SDLT: Mixed-Use Property Transactions
Tax Planning: Choice of Business Structure
Share-for-Share Exchanges and Reconstructions
Company Share Option Plans (CSOP)
VAT: Capital Goods Scheme
NICs: Class 1B Contributions
Capital Gains Tax: Letting Relief
Inheritance Tax: Potentially Exempt Transfers (PETs)
VAT: International Place of Supply Rules
Corporation Tax: Group Relief
Capital Gains Tax: Taper Relief (Historical)
Inheritance Tax: Trusts – Relevant Property Trusts
VAT: VAT Groups
National Insurance: Class 2 and Class 4 Contributions
Stamp Duty Reserve Tax (SDRT)
Tax Ethics: Money Laundering Reporting Obligations
Capital Gains Tax: Entrepreneurs' Relief for Partnerships
Inheritance Tax: Interest in Possession Trusts
Corporation Tax: Group Relief Surrenders
VAT: Partial Exemption – Special Method
National Insurance: Secondary Class 1 Contributions
Tax Planning: Use of Annual Exempt Amounts
Corporation Tax: Overseas Subsidiaries and CFC Rules
VAT: Reverse Charge for Construction Services
Inheritance Tax: Exempt Transfers to Spouse
Tax Ethics: Disclosure of Tax Avoidance Schemes (DOTAS)

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VAT: Capital Goods Scheme

Question 1

When must the first adjustment under the Capital Goods Scheme be filed?

10:06 ✓✓

A In the VAT return for the period covering the anniversary of the first VAT recovery. ✓

B At the end of the first accounting year, regardless of VAT recovery date.

C Only when HMRC requests a review of capital assets.

D After five years, in a single consolidated adjustment.

10:06 ✓✓

✅ Correct!
The first adjustment is due one year after the initial VAT recovery (CVRM 70620). Option B ignores the actual recovery date. Option C is wrong—adjustments are mandatory. Option D is false—adjustments are annual.

10:06 ✓✓

VCT (Venture Capital Trust) Reliefs

Question 2

Which of the following best describes the tax treatment of dividends received from a VCT?

10:06 ✓✓

A They are taxed at the dividend ordinary rate.

B They are included in taxable income but eligible for a 20% tax credit.

C They are tax-free in the hands of the investor. ✓

D They are subject to capital gains tax when reinvested.

10:06 ✓✓

✅ Correct!
VCT dividends are exempt from income tax under ICTA 1988, s.250. Option A and B are incorrect—no tax or credit. Option D confuses income with gains.

10:06 ✓✓

Furnished Holiday Lettings

Question 3

What is a key tax benefit of FHL status?

10:06 ✓✓

A It qualifies for principal private residence relief when sold.

B It allows capital allowances on furniture and fittings. ✓

C It exempts rental income from income tax.

D It permits rollover relief even if the property is not used for a trade.

10:06 ✓✓

✅ Correct!
FHL is treated as a trade, allowing capital allowances on moveable assets (CAA 2001 s.399). Option A is wrong—FHL and PPR are mutually exclusive; C is false; D misstates rollover relief conditions.

10:06 ✓✓

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🏛️ Advanced Taxation (ATX)
MCQ Practice

Top 10 exam topics

All topics in Advanced Taxation (ATX)

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🏛️ Advanced Taxation (ATX)MCQ Practice

Top 10 exam topics

All topics in Advanced Taxation (ATX)

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Simple, transparent pricing

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🏛️ Advanced Taxation (ATX)
MCQ Practice