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Oh Sir Moffat, disregard my question. I haven’t finish the lecture before asking. I got confused and impulsively ask this question without even finishing the lecture, my bad.
Passed 57%, 2nd attempt. Not bad for me as I passed this paper together with AA and FM
Congrats to everyone who passed! And for those who didn’t , don’t loose hope September will be your month! Thank you OpenTuition for the free lectures, notes and practice test! Really appreciate it. I sat 3 papers last June and it is my first time sitting an exam. Luckily passed 2 papers including Tax, though quite disappointed on the result cause I think I can do better than that but yeah still pass is a pass. Lesson is that really think of the combinations of papers to sit on if your taking more than 1 paper, cause in my experience of taking 3 totally unrelated papers is a disaster. Again Thank You OpenTuition! will still stick with OpenTuition in preparation for my papers in Sept. Lets go!
“For hybrid-electric motor cars with CO2 emissions between 1 and 50 grams per kilometre. the
electric range of the car is relevant”Hi! I think if we are dealing with short term period, we need to time apportioned the Upper and Lower limit only and not the Taxable total profit.
Lower Limit= 5ok/2*8/12=16,667
Upper Limit=250k/2*8/12=83,333and the TTP will remain 75k because it is the profit for that 8 months (short term period)
we only time apportioned TTP, if the TTP is for falls to two financial year.Hi! Thank you for the clarification, appreciate it so much, but im still confused about Illustration 3 with the statement that what if the donor is the is the one paying for the IHT
on the other hand, the donor – Ronald had agreed to pay the IHT then his estate would have
diminished, or reduced by both the gift and the tax.
Taxable amount 119,000
Lifetime tax @25% 29,750
Gross chargeable amount to carry forward 148,750