The FA 2018 lectures are used for chapter 18.
The differences between the Study Notes used in the lectures and those you are using for FA 2019 are as follows:
As stated in the Chapter 16 lectures, what we now refer to as “Accounting Periods” were known as “Chargeable Accounting Periods” prior to FA 2019, so you will hear the old “Chargeable Accounting Period” term used in the lecture.
In lecture 18.1 reference is made to the higher corporation tax rate applied before FY 2017 and as discussed in the chapter 16 lectures it is very unlikely that a question would now be set that required students to go back and deal with such an old accounting period.
The differences in the dates used in the examples are as follows:
Example 1 – the accounting period (AP) used in the lecture was “year ended 31.3.19” whereas in the FA 2019 Study Notes it is “year ended 31.3.20”
Example 2 – the AP’s used in the lecture were “years ended 31.3.17 through to 31.3.19” whereas in the FA 2019 Study Notes it is “years ended 31.3.18 through to 31.3.20”
Example 3 – the AP’s used in the FA 2019 Study Notes are 2 years later than in the FA 2018 lectures
Example 4 – the AP’s used in the FA 2019 Study Notes are 1 year later than in the FA 2018 lectures
Example 5 – the AP’s used in the FA 2019 Study Notes are 2 years later than in the FA 2018 lectures
Hello Sir,
In example 3, when we carry back the losses to be set off against the total profits of the previous 12 months, you have set off the losses against the entire 26,000 profits of the 9 month period but have only set off 3/12 of the 3 month period.
Why don’t you do the same with the 9 month period? i.e, set off the loss only up to 9/12 of the total profit.
Carry back relief is for 12 months. In the previous video he explained that if it is a short period the whole of the short period will use the relief, and the remainder i.e. in this case 3 months will be sent off further. The period is 9 moths all together, it is not 9 months of 12 months so it cannot be 9/12. 9/12 means 9 months out of 12 months. So using 9/12 would be incorrect.
Please Sir,
There is an with the videos you just posted for Chapter 18; the video for 18.1 and 18.2 are exactly the same.