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December 9, 2015 at 2:14 am
Also confused on Example 4 on the notes. Why the TTP is not apportioned? £300,000 x 21%. Shouldnt it be £300,000 x 21% x 4/12 for the short period of 4 months? Comparing to Example 3 where £430000 TTP bore tax payable of £88688, how can a short period of 4 months be charged for £62540 on TTP £300,000? Thank you in advance for the explanation
December 20, 2015 at 9:53 am
Exactly. In the example with a 9 months period for Y/E 31/12/14, they time apportioned the MR and the limits. Although, this wasn’t the case with Example 4 where only the limits were time apportioned and not the MR.
I am quite confused with regards to this.
February 14, 2016 at 11:02 am
You don’t time apportion the TTP in example four the ttp and the lower limit are both £300,000 you only time apportion limits along with MR
October 22, 2015 at 9:45 pm
In example 2, how do we work out how to time apportion the accounting period between the 2 FYs. How did we get 3 months for FY13 and 9 months for FY14?
May 26, 2015 at 9:48 pm
I guess, u don’t need to time apportion Marginal relief twice, according to Example 4 Answer in NOTES. Also, in one of ACCA Approved providers books – they don’t time apportion the MR for Short period.
December 7, 2015 at 1:18 pm
Thanks, I checked the answers at the back for example 4 and they have not apportioned marginal relief and yet in the lecture the marginal relief has been time apportioned.
May 21, 2015 at 7:22 pm
Just in case anybody is having doubts here, you should calculate MR for the short CAP as shown in the lecture – however do not time apportion it again at the end of the calculation.
If you think about it, by using the revised upper limit in your MR calculation, you have already time apportioned the relief.
May 17, 2015 at 3:02 am
yes Sir , I have the same concern. Please explain
April 27, 2015 at 9:09 pm
opentution what is the right approach, from video you time apportioned the MR but you didnt apportion it on the answer in the note.
March 30, 2015 at 11:25 am
In the last example provided in this video (short period and adjustment to limits), the marginal relief, after time apportionment of the upper/lower limits, is again time apportioned.
I have reviewed other tuition material (BPP) and on these, the MR did not get a second treatment of time apportionment.
Can you please confirm the correct treatment as per ACCA?
April 5, 2015 at 7:25 pm
I had the same doubt, but after checking the answer to the example 4 at the back of the notes, you will see that the MR is not time apportioned a second time. You can either compute reviewed upper and lower limit, or use the limits for 12 months and time apportion the MR. Mathematically you get the same result. I hope this helps.
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