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ismaeelt

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Active 5 years ago
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Viewing 7 posts - 1 through 7 (of 7 total)
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  • April 12, 2021 at 12:25 am #616952
    42891161f3552bcb4b07794231b089fea17d882ddad88e97154470ea8ce46dd2 80ismaeelt
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    Have had so many attempts people wouldn’t believe. But perseverance and more effort, changing of methods finally led me to pass. Got 56

    March 3, 2020 at 8:25 pm #563997
    42891161f3552bcb4b07794231b089fea17d882ddad88e97154470ea8ce46dd2 80ismaeelt
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    @tonim said:
    Yeah I’d not done any question practice on it. The gain on the painting I deducted from the “base cost” of the shares. I got confused with VTC’s and stated 5 years instead of 3 for clawback, realised as soon as I walked out.

    I found this exam hard because normally where I would comment on something during question practice the examiner had already said “don’t consider it” so I was struggling for things to say.

    In all honesty I don’t think I’ve passed, I’m not feeling very confident at all but I attempted every question and I seem to have said the same kind of thing you guys have so we can hope!

    This was the most annoying part of the exam. I was reading the question and I realised a relief only for the next sentence to tell me either the person already considered that relief and/or don’t consider that relief! It was quite annoying in that sense.

    For the residency I just looked at the tax table and considered those residency tests. I also remembered one important tip that as long as your principles and conclusion are right, you don’t need your calculations to be correct. So that helped a lot.

    March 3, 2020 at 4:27 pm #563925
    42891161f3552bcb4b07794231b089fea17d882ddad88e97154470ea8ce46dd2 80ismaeelt
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    The FHL was a GWR but she only lived rent free for 2 months so that was a bit confusing but I added it to her death estate anyway as her son said he doesn’t know why he had to pay tax on her gift ?????

    March 3, 2020 at 4:24 pm #563923
    42891161f3552bcb4b07794231b089fea17d882ddad88e97154470ea8ce46dd2 80ismaeelt
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    People saying consortia in Q2 for Ryb Ltd. Wasn’t it CFC? Permanent Establishments and exemptions pointed towards that

    Q1 Residency rules I didn’t study much otherwise that was an easy 9 mark question

    Q3 and Q4 were reasonably easy. Especially Q4. IHT and PPC and adjustment of PA due to PPC. PPC was 85000 so I used this year’s Annual Allowance and last year’s of 40k so total 80k not 85k. Annual Allowance Charge for the balance of 5k

    Too time pressured. Could not even finish off the Memorandum wasting an easy 1 mark

    December 3, 2019 at 4:57 pm #554721
    42891161f3552bcb4b07794231b089fea17d882ddad88e97154470ea8ce46dd2 80ismaeelt
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    @nickseaw said:
    Remittance basis wasn’t available for her?
    She was deemed domiciled in uk as have stayed in uk since 1999 until 2017?

    You’re right. 15 of the last 20 years. Deemed domicile so remittance only if she remits her income and is more than £2000 otherwise if she remits it

    December 3, 2019 at 1:59 pm #554665
    42891161f3552bcb4b07794231b089fea17d882ddad88e97154470ea8ce46dd2 80ismaeelt
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    Rollover relief in terms of patent to Durn was very confusing. 6.5 marks portion of Q1 was also very confusing

    June 6, 2014 at 6:39 pm #174802
    42891161f3552bcb4b07794231b089fea17d882ddad88e97154470ea8ce46dd2 80ismaeelt
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    The capital rationing 1B was only 5 marks. Every single comment is about that :O
    My NPV was -71. It was obviously going to be negative, it gave a huge hint in the question and in the requirements.
    Question 2C, analyse liability and asset position. What a stupid question to ask for 8 marks. The only change was going to be in year too when the COS decreased to 60%.
    Regearing was around 1.08 something.
    Overall quite good. Hope to pass!

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Viewing 7 posts - 1 through 7 (of 7 total)

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