What better time then to repost our accountant’s edition WWTBAM from Chapman Worth’s blog in September 2017…
Who Wants To Be a Millionaire?
We can definitely help. But first, it’s time for the Chapman Worth quiz…
Here’s our industry-topical homage to one of the most popular quizzes of all time. (Unfortunately, there’s no money up for grabs although winners will have the opportunity to
Q1: What expenses can landlords now claim?
A. Whatever they like.
B. Whatever they can get away with.
C. Those that are wholly and exclusively for the purposes of renting out the property.
D. None. It’s not worth being a landlord.
Q2: What is Form 17?
A. A millennial hip-hop group from Grove.
B. The document that follows Form 16.
C. A shampoo for poodles.
D. A HMRC declaration for cohabiting couples to acknowledge unequal property ownership and be taxed proportionally.
Q3: What’s the definition of ‘people with significant control’?
A. Someone with authority or skill – e.g. a teacher, traffic warden, or juggler.
B. Someone who can drink 11 cups of tea without the need to powder their nose.
C. An individual who exerts significant control over a UK company or LLP through shares or voting rights.
D. Your other half.
Q4: What is disincorporation relief?
A. A televised, annual fundraising event.
B. Relief that allows the transfer of a business from a private limited company to a sole trader or partnership; and due to end on 31 March 2018.
C. The feeling you get when you leave behind corporate life.
D. An over-the-counter medication.
Q5: What does OTS stand for?
A. Office of Tax Simplification.
B. Office of Tax Simpletons.
C. Oh. Tax. S**t.
D. Overly Tense Subtraction.
If you’re dying to know the correct answers or want to read more on the topics covered here, you’ll find everything you need in this month’s email newsletter.
And if you’ve still no idea what quiz show we’ve been talking about, it might be time to ask the audience.
Either that, or shout in exasperation: “I’ll have a ‘P’ please, Bob!” Anything to let you escape the room.
Until next time...