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Where was deferred tax?
ryanwilkes1985 wrote:1. Step acquisition, how to account for it in financial statements, the last part of 1 I was sure was a joint venture as it was organised through a business with a contractual agreement so needed to be accounted for using the equity method ???
Joint venture, was a separate entity
ryanwilkes1985 wrote:Annoyed didn’t get reorganising provision but got decommissioning – can’t get them all
jenkzzy wrote:i think you had to work out the other income to work out how much of the basic rate band was remaining (think i calculated about £5k)</blockquote
Yes there was a note saying be careful of what CGT rates you use, then clocked the dates and realised. Yes about £5k that’s what i made it too.
Praying ive written & done enough to pass, don’t want to do it again ?
brilliant! i don’t think i’ve seen many other people do this part of the question so glad someone else had a similar figure! also don’t want to have to resit so praying for at least 50%!..
avbosip wrote:Hello Bilal!
That is nice to see some people from the same Kaplan group…:)<br>I had two last this session. Just hoping for the best.I think it was “assume no losses are group relieved” or something similar, so would have been carried forward.
agree with you re the patent – no calcs were required so needed to talk about chargeable gains group so NG/NL, degrouping charge and then SSE as >10% and 12 months in prior 6 years, so whole gain would be exempt.
i think you had to work out the other income to work out how much of the basic rate band was remaining (think i calculated about £5k)
on the last question, the 4 month period qualified them as a large company (1.5m divided by 4 companies/12*4 (months)) so had to list the quarterly payment dates I believe.
some nice questions on sufficient ties, domicile, related property or IHT.
nothing on IR35/Partial Exemption/share schemes – seemed like a nice paper to me but will never know until results day!
