*** ACCA P6 March 2018 Exam was.. Instant Poll and comments ***

Feel ok coming out of that, question 1 was good – did anyone include IHT and Capital gains in part B ? When they asked about when the taxes were due ?

That was hard

hi I didn’t include that as I’m pretty sure didn’t ask for the cgt and IHT in part b so didn’t include it especially the IHT as that was part c of the question cgt thought about it but then didn’t add it in you’ll still be credited for it whether you have or not put it in

not a trick question bpr was simple bpr not available on investment property of it was a qualifying asset and owed for 2 years

did any body do question 4 ? what was the difference between the two shareholders and the car expense ?

There were a few tricky parts, as you would expect, however overall there was a good range of questions and nothing horrible!

I am wrecked mentally after that.

Now I need to try and not have a meltdown in the next 6 weeks waiting on the results as it is my third attempt at p6.

Yunusmulla, I did question 4 I found the difference was one was a basic rate tax payer one was a higher rate tax payer?

Then for after tax cost to the company I did original cost of the 2 vehicles/3 years class 1a NIC then deducted the sale proceeds they then sold them for.

but they both had 100k div income?

@rmulligan88 said:
Yunusmulla, I did question 4 I found the difference was one was a basic rate tax payer one was a higher rate tax payer?

Then for after tax cost to the company I did original cost of the 2 vehicles/3 years class 1a NIC then deducted the sale proceeds they then sold them for.

hi why class 1 na

@rmulligan88 said:
It said it paid total £100,000 dividend in the year so I split it 20% and 3% for their holding (don’t know if this is right)

Also it said after tax cost. The company would have had to pay class 1a for the 3 years it provided the benefit.

This was my 3rd attempt at p6 and pretty sure I’ve failed again so don’t take my word for it on this question, it’s just how I answered it.

i was thinkin leavin p6 doin p5 but will give another attempt…oh crap ur right..i messed up itt was 100000 between them..i defo failed

@johnmoore said:
you still goin to attempt im taking lessons nw

I need to do P3 in June (and hope I pass or inlops my P1) then I’ll decide in sept whether or not to do p6 again.

I worked back to front did question 4/3/2/1

Really messed up q 2 and then panicked on q1 and even though I started q1 with the right amount of time for it I kept making mistakes and starting again so wasted 20mins and then struggled to finish on time. Really annoyed with myself

For question 4, it looked to me like one was employed and the other wasn’t.

For the one not employed this would be charged as dividend income.

For the one employed I worked out the income charged and class 1A NIC