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I agree with your points just with the river cruise option going with a partner seems to allow little scope for additional profit and yet huge reputation risk.
Seems like same exam on me what did you do for the hygine risk manager roles and responsibilities?
Or the slides regarding balldridge model found that trickey?
For the strategic choices I was annoyed alot of the challenging of each option was done in the exhibit.
I also recommended the river boat cruises but advised strongly against the partnership model. Not sure that was a good exam response by basically throwing out all the options presented and then giving my own take on it.
Hope the marker accepts that.
Was there a model for evaluating operational performance ? I just took stuff from exhibit and elaborated on it with no structure.
For the governance question I wrote about appointing a risk committee, increasing NEDs, increase diversity and include people with financial background.
Roles and responsibilities of a food hygiene manager was mostly text book for me but we had a large exhibit on food poisoning just couldn’t find anything relevant to the question which really worried me.
I get that I mean like the instant poll on the home page you have it for every other exam where students discuss the paper.
It was there also for the 2021 September sitting for SBL… looks like it was just missed this time round.
Was relatively ok felt less pressured than mock attempts just struggled to see what overall issues Achilles had other than less profitability which seemed to be due to not increasing prices while costs had increased.
1) Operational comments I think I did ok but didn’t use any models.
Comment on financial results and position was hard and struggled to write anything meaningful.Used SAF to evaluate the different proposals but was quite tedious doing SAF 4 times over and not sure that’s what the marker wants to see.
Also found the risk manager role & responsibilities quite tough to score marks on.
Performance excellence on the slides I had to use alot of common sense.
Generally found it hard to link to the exhibits when answering questions.
Q1 share based payment I don’t think it was the 10m from old scheme I gnored old scheme and calculated the cost of new scheme they promised but as it vested over one year wasn’t sure if full cost is just due on acquisition. Although discounted for 1 year.
For the deferred tax liability I added on to net assets as they overvalued the liability but the brought forward losses aren’t an asset as company was loss making even though acquirer could utilise.
No idea if either is right.
khilen wrote:There was a disposal of a property and motor boat in Q1 i think – did people work out the gain and apply PPR to reduce the gain?
Yes for the house but for the motorboat I said no gain as not bought for investment purposes?
DSAV90 wrote:Questions:
1) Tusk – losses, VAT deregistration, IHT<br>2) Group relief, disposals, ethics marks<br>3) Mathilde, Iris – gifts, IHT<br>4) Basis periods, cost of additional employee, VATI had same 4 questions and ran out of time. Exam was too focused on self employment and not enough income tax covered.
Also 17 marks for part a of Tusk was alot to talk about without a breakdown of marks for each sub section.Final question with car lease was the hardest TX knowledge question I’ve seen come up it’s usually easier TX knowledge needed this was very niche.
DSAV90 wrote:Wasn’t one of the transfers to the wife in his death estate?
Iris mathilda question – I thought shares were to daughter so can’t add on ownership period. So need to have 2 years for ER.
Yes UK ATX but seems software dishes out different questions. I think it makes it less even in terms of topics covered in the exam mine was heavily self employment and CGT/IHT and almost nothing on IT and related topics.
Did anyone get the question with CGT and IHT calculation on sale of shares guy died left to 2 sisters and one left to their kid etc..
I so wanted there to be a relief but couldn’t find one..
No ER on daughters sale as not 2 Yr.
On PET transfer for death tax
No annual exemptions, no NRB.
No QSR more than 5 year not even tapper relief..
Feel like there was somthing I missed.?@sandra thought it was 4 years he was going for initially. If it was months that changes everything with the residency question?
For question 1 with loss relief I have no idea if I did it right but added final period to last year profit so reduced loss slightly then added overlap profits to increase loss to around 70k then managed to offset some of it against cap gain on sale of business building but only had a small tax saving because of ER and AEA. There was alot in going on in that question. I assumed no carry forward as not UK tax payer going forward. Couldn’t think of any issues with sending her sister 18k a year once he leaves as it was out of income assumed not even considered a Pet.