December 9, 2011 at 10:35 am
adminMemberDecember 9, 2011 at 12:45 pm
hmmm……paper was ok…..but a bit lengthyDecember 9, 2011 at 1:52 pm
it was okay?
i think it was a really really hard exam.. damn syllabus was too lengthy n yet i studied everything n the examiner still asked stuff i couldn’t doDecember 9, 2011 at 1:53 pm
everyone pls DISCUSS answers now hurry up..December 9, 2011 at 2:02 pm
lengthy and challenging but okDecember 9, 2011 at 2:23 pm
It was a horrible paperDecember 9, 2011 at 2:38 pm
kw2708MemberDecember 9, 2011 at 2:45 pm
Very very lengthy paper but better than June11 for me – started with Q5 corp tax then Q3 all i remember was Share option’s approved scheme/ Employment benefits Income tax and NIC and then madness in q1 and 2 – not enough time to finish – all CGT,Income Tax, IHT and VAT,overseas aspects implications in Q2- i knew most the stuff but no time…fingers crossed Why we don’t have a proper exam structure ? I looked at CTA exams and case study you do lengthy long 1 questions properly -cant imagine in real life doing a report only half and then jumping to matters other client – unprofessional from ACCA Ethics point of viewDecember 9, 2011 at 3:25 pm
left 15 marks…damn time shortage..December 9, 2011 at 3:27 pm
Started with Q2 as it seemed the most straight forward one, overseas aspects of income tax and CGT. Then did Q4 only because I saw inheritance tax, the taxation of the trusts was a little bit hazy to me. Did Q5 next mainly by default as I couldn’t remember anything on SAYE for Q3. Q5 was ok though, group relieft and group VAT registration, didn’t really know the answer to the tax relief on interest though.
Finished with Q1 which obviously I didn’t manage in its entirety as the paper was so long, hoping to score some marks on the ethics, cash accounting scheme and loan narrative, rest of my calcuations started blurring due to time pressure …..
Overall pretty marginal… First attempt and must admit previous papers looked easier. SAYE and taxation of trusts are towards the outskirts of the syllabus…..
Fingers crossed!!December 9, 2011 at 3:34 pm
A ten marker on SAYE was pretty harsh and meant had no choice to do questions 4 and 5. If known about SAYE it seems question 3 would have been good choice and an easy one to pick up marks.December 9, 2011 at 3:44 pm
Same here.started wid Q4 den went for Q5 and den Q2..dese all went fine..was left wid 45 minutes for Q1 wich was damn hard..wrote few things on ethics and loan and cash scheme..in the end messed up wid all the calculations which were worth 15 marks…effectively attempted 85 marksDecember 9, 2011 at 4:07 pm
Started with Q5 and then was forced to do Q3 as Q4 is just horrible (WHY did he choose to go for trust IHT!!!!).
Running short of time by the end, did Q1 in 40mins. Totally messed up with the close company loan. Horrible paper, the section B questions were so tough to choose. Section A question is nicer than Jun 2011. Pray for a pass.December 9, 2011 at 4:08 pm
I started with q1, it took my 2 hours. Q1 was on CLOSE COMPANIES(i wrote on that). Then q4, it was average question but cant remember its requirements. Then q2; a lengthy question IT liability trading losses, business assets, o/s aspects.
I wrote that the person will remain liable to uk taxes as it was stated in the question that he will hold UK domicile while living abroad. Then attempted q5 in last 15 mins. But not able to write in detail.
Hoping for magical50.December 9, 2011 at 5:22 pm
i left 21 marks due to shortage of time…………………… 17 marks of Q2 (a) and 4 marks of Q5 (b)…………. dun know whats gonna happen … am worriedDecember 9, 2011 at 6:31 pm
I think that in P6 the best strategy is to start with Q1 and Q2 because in my opinion they require more time per mark as there is a lot of information that you have to put together. The exams are too long but we all know that they are like that and that’s the level required.
Typical exam: some easy marks but other not that easy and time consuming.
Q1 and Q2 OK, one thing that I remember now is that the gift relief from his father would become chargeable if the guy, even if employed, left for more than 3 years. And I have forgotten the capital loss brought forward (I think that there was a capital loss, wasn’t it?
Q3 I have mixed up SAYE with SIP, wrong with taxation (writing SIP) but OK with conditions.
Q4 I run out of time, 5 marks maximum.
Fingers crossedDecember 9, 2011 at 7:10 pm
I didn’t think it was a hard paper……unfortunately……with that I mean that if it’s a pig of a paper you just know that it was hard and that you have an excuse if you fail!
I don’t think that I have passed it – it was very wordy though.
I started with q4, then 1, 2 and 5 – I finished it in time but I know that my answers are not that good – may have picked up a few marks here and there for some of the things I put in
I saw SAYE and immediately ignored it but I figured that something like that would come up.
As others have said, it’s a huge syllabus and I didn’t think that there was even a 1/3rd of it in the exam.
Oh well, when’s the exam in June?? lolDecember 10, 2011 at 9:09 am
Well like so many others i say the SAYE and skipped it, started with question 4 which i think was the easiest of the lot, did alot of work on Trust as per article in student accountant. I remembered the exit charge of assets leaving the trust and the IHT tax issues, failed to mention however that income from the quoted shared will be grossed up by 100/50. Gutted. also was not sure if exempt gifts to charity affects the nil rate band. Then on to question 1 which started ok but i got confused half way thru, ended up trying to scramble easy marks on it. I managed to work out the upper and lower limits for 2 assoc split between 9 and 3 months respectively, was a wild guess.Then question 2 was fair but did not know how to calculate the cessation loss. Gave it a shot tho. Then finally question 5, mentioned consortium companies but had little time left and my brain was fried so i could think of any way to relief the loss. worked out upper and lower limits and picked up some marks but i dont think i did to well on that question. Hoping for a lucky 50. Second attempt missed 1st one 48%.December 10, 2011 at 9:28 am
Irish variant. for me i knew the paper inside out. i nearly flew through everything. the damn mistake happened when at very last minute i was checking the written and realised that i forgot and had skipped two small questions inside Q1 worth 5 marks each!!! what a effing move on my part. i knew the answers of them too. i wonder if i can get 50 by only attempting 90% of it T^T
Surely though if you knew this paper inside out then you would be expecting more than 50?December 10, 2011 at 12:37 pm
left 20 marks, the paper was effin long….i knew most of the answers but the time constraint was too much.
I skipped the SAYE question, probably most people did. Although question 2, 4 and 5 were not that difficult. I did question 1 last and it was the hardest…it took me too long to understand the scenario and make sense of what was needed…Although i skipped part A of question 1 as it was taking too much time and i had too little left.
Frankly i may pass it’s kinda 50:50 for me.
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