[areesha123]

Hello. Here is some advice/tips for passing F5::
1. Practice past paper questions as much as possible.

2. PM is more than just calculations. Don’t solely focus on calculations. Pay attention towards more theoretical concepts (e.g. balanced scorecard) as these are highly likely to be tested. Cover all topics.

3. Learn how to analyze
Arguably the largest obstacle students face towards passing the exam is the inability to analyze. Saying that “the variance is adverse, indicating a poor performance” is not enough. Why the variance is adverse. Give your opinion and justify it , that would be valid

4. Attempt ALL Questions in exam and ensure time management, keep track of time.

Hope you find these tips useful.

[areesha123]

Hello. A.E of 3000 is available for lifetime transfers and available on both PET and CLT in a chronological order. Unused A.E can be carry forward for one year only. But A.E of current year must be used first and then any b/f A.E.

example, For tax year 2019/20, Tom made cash gift to his daughter of 40,000
Tom also made cash gift of 120,000 to a trust and Tome will pay inheritance tax for that.

hence gross chargeable amount for PET to daughter is £34000
Transfer = 40,000
Less: A.E of current year (2019/20) = -3000
Less: b/f A.E of (2018/19) = -3000
= 34000

Similarly, Gross chargeable amount for CLT to trust is £120,000
Transfer = 120,000
Less: A.E of current year (2019/20) = -0
Less: b/f A.E of (2018/19) = -0
= 120,000

Note that Unused A.E can only be carry forward for one year only. But A.E of current year must be used first and then any b/f A.E.

[areesha123]

Hello. No need to show workings on spreadsheet for Section A and B for Acca F6 tax UK. Sec A and B is merely Multiple choice questions. You can do workings on (extra) paper which invigilator will provide you in exam room. However, For Section C Make sure you show all your workings, as you’ll get marks for (correct) workings, even if your final answer goes wrong.

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