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Q2) Book release:
Started off by mentioning that it had been done in the past, and couldnt have been so damaging if hes now got a tv show and another book. Mentioned that history isnt ever pure facts, and there’s always a touch of subjective. Also mentioned that this is one critic, and although described as independent, how can we know for sure? Advised for a 2nd opinion
Ethical i used Tuckers (with a crowbar)
Profitable = Could be if public dont veto. Would be unprofitable otherwise
Legal = Could be a potential lawsuit regarding credibility, but there’s no hard laws being broken.
Fair = Not fair to state something as factual if known it isn’t. Not fair on the students
Right = As an education publisher, its not right to include false facts.
Environmental/Sustainable: Knowledge is passed down from generation to generation, thus misstatements reduce the intelligence of future generations.Financial:
Loss of wasted inventory, unless they can find a publisher willing to buy the books
Loss of sales/contracts as a result of reputation damage
Bad publicity might reduce Pendeans desire to mergeIt was my first time sitting SBL, and i found it a strange one. Can anyone here comment if they agree/disagree with my main answers to the questions:
Q1) Corp Gov:
In a very diplomatic way, i mentioned that that the board needed:
more females
younger age
new blood/fresh eyes
HR Director on the board
A risk committee
More regular meetings with more constructive agendas/focus on innovation
Suppliers who have close ties with a director need extra oversight (the IT Director and the IT Platform provider)I’m waiting for ATX! It was a tough exam, so not sure!! 🙁 Come on midnight! Good Luck y’all!
@lstapley89 said:
The examiners report for the December 2018 sitting is now availableThanks Laura!!!
Does anyone on here know when the ACCA will publish the answers to the December exam on their past papers section of the ACCA site? Pleaseeeeeeeeee
I heard (on a past post) that it could be a week or 2 before so i was hoping it would have been today 🙁
I sat the ATX in December. I noticed that they publish the exam the day after sitting. However the answers have still not been published. Does anyone know when they will be published?
Good luck everyone!
@abejide09 said:
Any help guys??I did this (could be wrong)
The period which only the owner occupied the house needed to be assigned 100% tried.
The period which the tenants lived there needed to be assigned 70% with the exception of the last 18 months, which always gets 100%.Then apply letting relief afterwards
@daisypeg said:
Did anyone talk about investors relief if she would have waited to sell the shares in q3 pretty sure I read somewhere that 2019/20 would be the first year investors relief would be claimable?I think it might have got an extra mark or 2 now that u think about it! But, to get IR you need to have the shares for 3 years from 6/4/2015. I didn’t think the new shares in the takeover would have counted, but now I think they would have :(. Hopefully the use of the next years AEA should still get a couple marks
Does anyone know if/when they post the answers on the acca site?
Looking at the paper, just realised that the gift of cash of 160k from the dad was at death, so shouldn’t have removed 6k AE. So the NRB left from the dads death to transfer to the mum should have been 165 not 171 🙁
@daisypeg said:
The group payment arrangement threw me as BPP didn’t include it in their course notes only the big study text which I only glanced over so just used common sense and answered with reduced administration burden , reduced chance of paying late and hence interest being charged…Yeah same.
@sanjanapaul1234 said:
In the text book, they mentioned for living accommodation is only taxable if the property is provided to the employee. In this case no property was provided but he was paid 1500 per month rent and that too the question specified for relocating.. hence, I added up to 5000 and did that treatment where in I got a net taxable benefit of 3000I didnt think a temporary flat counted as relocating?
Granted they didn’t own the property, but they were still paying him money for purposes of living, so i thought that had to be taxable employment income of some sort..
@johnmoore said:
yes I wrote cgt of ZERO aswellYup! Sold same day. Phew
@johnmoore said:
relocation is 8k tax free exempt benefit that was abit hard for me, payments for reny I think I did do benefitthat 20000 really confused me
Agreed about the 8k limit, but the question said they only gave him 5k.
The 20k lump sum is basically a golden hello, so taxable in full.
The living accommodation was weird because they were giving him cash for the rents, rather than providing him with a property. Either way, i said it was a taxable benefit!The examiner really loves trying to trick people! Fingers crossed
@daisypeg said:
The very last question was the non tax advantaged share scheme so I said he would have tax to pay at the exercise date calculated as the difference between the grant and exercise and there would be no cgt as the proceeds from the sale would be the same as the cost as he was acquiring and disposal on the same daySame here. Grant= No tax….Exercise = Employment income = MV at sale date, less the MV x 95%
What did you do for the payment for relocation? 5k tax free… The payments for rent, as taxable benefit?
@daisypeg said:
Yep I got around 4k corporation tax and then the actual total tax payable was around £58k and £56k with the limited company being the more tax efficient. Similar?I cant remember the number, but i did say that the company was the cheaper option. Mostly because the dividend payment to Roth meant he could use his DNRB and the salaries were tax deductible etc
Wasn’t it 4 shares at £20 per share?? 3200 shares at 20 pound = 64000 and 12000 in cash. I didn’t see one example in my studies where a takeover/part disposal lead to a loss? It doesn’t make sense to give more cash then share value ?
Decision to delay the gift and sell to her son….
At first i was going to mention connected people, but then realised that the price being paid was the same (28 per share). So my only reason for delaying, was that she would get a new aea of 11,300 by waiting till may, because 10k (Approx) was used on the part disposal with cash on the takeover from vulcan. Then split her CGT payable withh 3500 at lower rate cgt 10% and the remainder at 20%.
What did other people get?
Group relief question..
As it was a Capital Gains group, the qn said that Fip Ltd was not large. So i said Fip, should transfer their chargeable gains to the company that had the loss (cant remember maybe han) so that their TTP would be below 250k, which was the limit (1,500,000/6)
Did you guys get the qtrly instalment for january 19 to be approx 25/26k?
What did people put for the gift of the investment property in lifetime of on death?
IHT= There was no NRB left, and she was dying in a year so no taper. If you gift it in life, then you can claim Fall in value relief for IHT.
CGT= If you gift it, then its a disposal at a loss, which if was still a Capital loss at death, can be refunded by HMRC
What did you guys put?
A
@johnmoore said:
I think your rightWhen he died he gave 160,000 meaning at that point he used 160,000 of it
165000 was used
Divided by 325000Gave around 50 percnet
Added it onto lucy band rate
Was the NRB on the first death different? Was it not also 325k? If they’re the same then % will equal the same as taking it away right?