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Hi All,
Reading through this forum, it seems like I am in the same boat as many of you are.
I studied at Kaplan and their textbook was over 1200 pages, and given this, I felt like the exam was very unfair. There has to be some common sense and sympathy from the examiner, and some questions need to look at the bigger picture, rather than the really really niche topics that were tested.
Luckily I knew EIS and SEIS, so I’m hopeful for 10-12 out of 18 on that question, but for those who overlooked it, that was 20% of the paper written off…just seems unfair.
Also, Disincorporation Relief…9 marks, again, felt very niche.
There were no questions really on IHT on the whole. No overseas taxes for individuals. No loss relief. Just seemed like the main parts of tax were not tested, which is just disappointing and frustrating.
I understand that they can’t give the qualification away, but the reality is that there are no experts of every single tax, especially in practice. They usually specialise in one area such a CT, personal tax, employment tax and VAT etc. and for anything they don’t know, they look it up from a book/the internet.
Personally, I imagine I will get somewhere in the region of 45-55. Any other past paper, I’d be confident of a pass, but this one was horrible.
Good luck everyone on 18th January, I think we’re going to need it!
Hi All,
I thought, on the whole, the P7 exam was very fair.
It focused on the bigger picture, and yes, it did have some challenging aspects, but 35 marks on risk & planning, 20 marks on ethics and 20 marks on completion, seemed really fair to me.
For those sitting the UK paper too, 12 marks on insolvency were also fair.
Good luck everybody!!