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Wasnt sure about passing but somehow had a hope of just passing and guess what ? Passed on the mark got 50%. Relieved.
Thanks….just before the exam last 3 days after revising I practiced almost about 40 mix questions which gave me a good grip.
QUESTIONS ARE NOW AVAILABLE ON ACCA WEBSITE SO PEOPLE UNSURE OF VAT QUESTION AND GO THERE AND HAVE A LOOK. I M WAITING FOR THE ANSWERS TO BE POSTED…
My exam went very well… I dont think the paper was lengthy as I had more than 30 mints to spare at the end. Either I was too good or I missed something. I did a lot of practice though.
Q1 dividends was tricky but got it. The basis of assessment was I took profit of 4 months or whatever it was for the last year and then 8 months profit from the next year given. I think the rest was very easy.
Q2 not sure what I did but I calculated the tax liability for the first company and after coming to wind ltd claimed the capital loss of the first company as group relief…
Because capital losses can be offset against chargeable gains in future chargeable gains and by group releif in the same 75% group which 2nd company had chargeable gains…Q3 chargeable gains went very well and the part b for advising for releifs availaible for the disposals went very good.
It was I think rollover relief gift holdover relief ep relief yea nt sure abt the gift one…Q4 very easy I guess I did all calcs right for the nic contrib..
Q5 in clt I did comp 1 and no iht was payable at the time of the gift as covered by nil rate band and then in comp 2 clt claimed 145000 of the nil rate band and then PET was given the rest of the nrb after a/e of 2 years and the chargeable pet came to around 64000 and then just before the death in 2013 the clt1 drops out and the nil rate band gets back the 145000 claimed by clt 1 and the remaining nrb gets used by death estate comp 3 and the remaining charged at death rate.