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Question 1: Multiple choice (5 points): A1, A3, B1 Alma holds 80% of NBB Ltd...

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Question 1: Multiple choice (5 points): A1, A3, B1 Alma holds 80% of NBB Ltd unquoted companies. she gives 20% holding to her daughter. Shares holding on this date were valued at: Required: What is the value for IHT and capital gain tax (CGT) purposes? IHT: 100,000 , CGT: 100,000 IHT 150,000 , CGT: 300,000 IHT: 150,00 , CGT: 100,000 2. Tax avoidance is Legal - True o False 3. Which one of the following statements are true about inheritance tax? It is indirect tax. It is an environmental tax. It is a redistributive tax. 4. Which are the following types of income are exempt from income tax? Interest on an NS and I investment account. Premium bond prizes Interest on UK government Dividends on Shares held in an individual Saving account

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