[lokeshdh00]

thank you very much , where would you say i would learn most and gain most valuable experience as per ? as an Audit job or in a trading company or something else

[lokeshdh00]

thank you very much , life saver advice haha

[lokeshdh00]

ohh so in second problem the class 1 employers nic liablility and Class 1A are allowable . i mean thats what the calculation suggests. please help me here

[lokeshdh00]

Also, In question called sammi ( question no 111 ) , There when the smark ltd provideded employer sammi car benefit . the corporate tax saving calculated as : 19 % of class 1 A NIC and allowable leasing car benefit ( less 15 % )

i am confused why they calculated 19% of class 1 A nic as tax saving. like what is going on.

[lokeshdh00]

why full 400 cost was not added back

[lokeshdh00]

Got it , Thank you very much 🙂

[lokeshdh00]

Thank you , Yes i have watched all lectures. Open tuition is my primary source of study.
But for december i only had one month to take all lectures and i barely finished syllabus on time ( couldn’t touch exam kit ) . So i ended up with 44 marks. I was planning to cancel exam but But was too late.

In notes, It says ” taxpayer must have net relevent earnings for the tax year of at least £ 10,000 for tax relief to be fully available”

So i got confused with ut

[lokeshdh00]

Is it referring to the : Basic rste relief id given st source of lower of : gross contribution or 100% of relevent earnings.

Also, Whatd the relevent earnings is : is it net or gross ?

[lokeshdh00]

Thank you very much, I was asking for a friend who works half of the time from home.

In such case, would it have to be Day apportioned? Like 2-3 days out of 5 in a week if someone goes to office. Do we time apportion for it for average days worked from home?

It probably won’t be examined this way. But i was curious.

Thank you very much againnnn 🙂

[lokeshdh00]

like someone who works 3-4 days a week at home and rest at office

[lokeshdh00]

or we only take the impairment through the surplus ( revaluation reserve ) if there was a balance in revaluaiton reserve from previous year. but like in example in the lecture there was revalutaion only just before sale of the asset so that we take through oci and we don’t net off the impairement from it .

its such a confusing stuff. please clear it for me. thank you veryyy much

[lokeshdh00]

Excuse me for sending half screenshot, The lifetime tax was reduced after Tap relief but still the original first figure used was gross Chargable transfer instead of just original chargeable amount

[lokeshdh00]

But the second stage is so confusing for the example 4, In notes its written: if donor dies within 7 years of making the gift , the CLT remains chargeable on death of the donor . IGT is then payable at 40% on the value of the gift ( less any NRB and lifetime tax paid )

but in lecture you wrote : Gross chargeable transfer – ( NRB – used in pet ) = taxable gain , then taxed it at 40 percent.
ill upload the screenshot of the lecture picture to show what i mean.

Image uploaded : https://ibb.co/f46BVM5

what i thought would be calculated like was : chargable amount – ( NRL – used in pet ) – Lifetime tax paid = Taxable gain

[lokeshdh00]

its clear from illustration , Its counted 7 years from The Pet/clt we are doing.

Thank you very much.

[lokeshdh00]

Also thank you for wonderful lectures again, I couldn’t imagine studing tax from any other teacher

[lokeshdh00]

also, can we apply reduced wdv of 6 % after 50% enhanced deduction on special pool on remaining 50 % in same year ???

Edit : i just read the illustration again . apparently not. it wdv will apply from next year

[lokeshdh00]

oooh yeahhh, Its 9/12 * 1m . I was pro rata-ing the whole actual figure , I understood now. thanks

[lokeshdh00]

and if there is additions and the bf is 800 and additions is 1000. then it wont apply right ?

[lokeshdh00]

Oh its actually clear now after further watching your lecture, These rules are just Random. I thought it was some Printing mistake. It means what it says haha

[lokeshdh00]

Thank you very much, also, I was going for tax with AFM. Just wanted to ensure if all tax lectures is up to date with current year. I asked in Tax forum but Its been few days there was no reply. I just wanted to Ask before i Start studying it

[lokeshdh00]

Thank you very much, i able to Complain by the site provided by general forum tutor.

Excited to Watch you lectures sir for AFM soon !!!

Take care

[lokeshdh00]

Thank you very much, I able to do it with you guidence. I appreciate it greatly

[lokeshdh00]

I am also not sure where should i approact acca about this matter

[lokeshdh00]

So there would be a disclaimer of opinion where no opinion can be given. I would guess it would appear in key audit matters and EOM paragraph where audiot can also make it clear it was their fault actually. correct me if i am wrong. I am in middle of syllabus right now havn’t finished it yet

Your presence is highly appreciated, Like there is someone to guide.

[lokeshdh00]

Okay, Thank you for your extremely helpful answer, Its better to attempt in march then to go through breakdown from getting failed. Now i understand its quite a bit of work to go through for this exam in particular. Not really considering sitting two exams in march currently but If i wish to sit two exam in future which combination makes more sense:
AA + FM Or AA + TX TX+FM

only these three exams are pending for skill module.

[Author]

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