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If you got the same question corporation tax liability and some chargeable gain group relief question, how did you adjust the interest payable? I deducted only the Accrual c/d figure from the given. And for the corp tax saved, I multiplied the first two losses that qualified for chargeable gain gp relief with 25%.
Having to do 2 income tax and 3 corp tax questions was absolutely brutal man. Dont get me started on those capital allowances
To me this exam was just crazy!
Section C Q1 – Basically had to calculate 2 Income tax liabilities, NICS and CGT plus theory questions for 10 marks only
Section C Q2 – Taxable income and the income tax liability with confusing capital allowances and question wording and then more theory questions
Section C Q3 – Basically had to prepare 3 corporation tax liabilities. Two for a 15 month period and another detailed one on a 9 month period and more theory questions again
Am i the only one who found these to be too much for a 3 hour exam?
The exam was brutal, thought I was prepared but boy was I wrong, those last 3 questions especially. I wasted too much time thinking and rethinking a lot of things which didn’t help.
Worst capital allowance question.
Good luck with results, will be lovely if I even get 50
For section C, did anyone have net income for self employment and for employment with Scarius or something (10 marks) and then 15 mark corporation tax liability and group relief theory question and the last one was income tax liability for Nook and husband Book theory question on marriage allowance / residency status?
For section A, questions I’m doubting myself on are a residency status one, think I chose home in the uk and brother and sister have a flat in the uk. Also, how long HMRC have to do a discovery assessment for careless and deliberate? I chose 6yrs and 20yrs.
Section B- vat questions on cash accounting scheme, how many payments? Was it 9 or or 9 and a balancing payment?
Feel like the inheritance tax questions were confusing? I couldn’t get to any of the multiple choice answers for one them. Also Capital gains were tricky too especially the antique one. Feeling worried!! Crazy how all logic goes out the window when sitting these exams!! lol
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