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Premium is not pro rated, pays annually,not sure about interest
@ritaalbu said:
Premium I did divided by 15 times 8/12, time apportioned to the no of months, as it should not be the annual amount . Advertising expenditure deducted yes.
Property loss did not include interest on property loan as it should go to interest receivable, not property income, you guys did the same?
ThanksExpense related to business with in 7 year period of starting business is allowed expense,premium was 15 year year,final figure divided by 15 for year 15/16
@chiks said:
Was the advertising expenditure supposed to be subtracted to increase the operating loss of the company? I felt it shouldn’t since it wasn’t incurred in that period. And did anyone time apportion the lease paid by the company?Sale proceed always comes after allowance calculation?not sure of it
@anniee85 said:
Capital allowance wasn’t required to calculate for a car because was sold. I think car was not computer. I don’t remember question now. I hooe I’ll pass. Good luck everyone!To qualify for FYA two conditions apply 1 car must b new 2 limit of co2
@suf23 said:
FYA is never time apportioned.Are you sure car doesn’t need to be new for FYA?
How it come 20%?same rate to gp for wda nd u mixing two question,21700 base cost for fuel surcharge nd FYA is capital allowance
@sherrydada123 said:
Well 22100 x 20% not 18% lol
and even if it is USED CAR the FYA will still be charged and taken to Capital Allowances.@ritaalbu said:
Correct, the remaining 2600 was taxable. The way i ve done it:
Alice – 18%, list price less 5000 contrib, fuel 22100 * 18%, mileage allowance not taxable benefit
Claude – private telephone exempt, home system cost less 20% * cost (probably not right)
Buma – loan ( 30000 plus 18000 )/2 * 3%, less interest paid; 18000 as repaid 12000 throughout the year
Denise – 2600 only taxable, medical costs exempt up to 500 per annumThen computed * 13.8% for each to get class 1A
Anyone else agrees on the above?
Yh did exactly same,home entertainment only 20% cz employer provide employee for normal usage,nor gift nor employee paying back…hope for bestYh computer bought on discounted price 400*3 but he also mention computer sold on discounted rate I’m confuse here,computer qualify for AIA nd create allowance of 1200 but after we deduct 1200 from gp as well??
really unexpected i practiced last three year exams and no doubt this is one of hardest i find.q 2 any idea only 2 marks for abc costing……really hilarious disappointment at the end
hi im ahmed im from manchester im looking for f5 practice online/group for dec,
