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@sentinel01 said:
Are the answers too?Answers dont come out for another few weeks say end of june.
@sentinel01 said:
yeah i looked closely to da quest later the co. question is soo movn in ma mind makn me crazy neways the RPI was already calculated for us wasnt it??? we just had to times it by the costsI didnt take the impairment loss off but i didnt know a thing about it so i just left it as okay but im probably wrong.
Yeah the RPI was already calculated so you just did the cost x the RPI and deducted it and then the same for improvements wasnt to sure about the repairs because of fire so i just added them in also.@sentinel01 said:
no AE for companies @addydegr8This wasnt for companies it was for individuals all of them had the AE of £10100 available and the first one who claimed for Entreprenurs relief the exepmption was off the non eligable gain not the gain on ent relief!
@addydegr8 said:
in chargeable gains for dinnah capital gain tax questioni have computed capital gain tax it was nil as it was deducted by annual exemption of 5000 i hope i m correct
Where does £5000 ae come from? Its £10100??/
@addydegr8 said:
i have a mistake in question in for bonus i added two bonus , will the examiner will deduct 1/2 mark for bonus, coz due to that my paye wud be wrong, income tax computatiion wud be wrong, and even balancing payment wud be differ, so wat do u think wat the examiner do anyone have idea by marking schemewill there be marks for procedures, or for calculations
The marker never cariies anything forward and only penalises you once so yes you will get 1/2 mark deducted and the aslong as you applied the correct rules to the rest you will be fine 🙂
@addydegr8 said:
i wrote that there is a lifetime tax on clt and no tax paid in life on pet
if the donor dies within 7 years time of gift made then additional tax on clt and a tax on pet followed by a taper relief, if donor dies after 7 years then pet is exempt from iht and clt additional tax is also not paid
this is wat i have writtenYes thats exactly what i wrote so hopefully we will get the 2 marks on that and then 12 marks on the calc and one for the due date on the death estate which was 6 months end of month after date of death 31/08/11 or if earlier the the date of the delivery of account.
Can you remember what you put for the VAT questions?
Does anyone remember what they put for the first part of Q5 for 2 marks it said state the diff between CLT AND PETS for Inhert Tax purposes?
@addydegr8 said:
it was 19 for first question part a
and 11 for part bplease chk n qoute my other post and reply
which other post?
@addydegr8 said:
PLEASE TELL ME ONE THING THAT 10100 ANNUAL EXEMPTION WUD BE FOR EACH AND EVERYONE INDIVIDUALS GAIN A,B,C,D ???I DID APPLIED FOR EACH N EVERY ONE
COZ SUM TOLD ME N CONFUSED ME THAT ONLY ONE TIME ITS APLIED TO FULL FIGURE FOR ALL GAINS OF ALL PARTNERS? PLEASE CLARIFYThe Annual Exepmtion is for each and everyone £10100 for each… i did the same as you for the above only i didnt manage to complete it all as i ran out of time.
Can you remember how question one and four was broken down marks wise?@curiousmeerkat said:
Damn! I forgot to look at the basis periods. I just treated him as earning 20% of 10 months, whereas his first year should have been 1st December to 31st March.Just to confirm, when I take my wrong profit figure and work out the NIC based on it, I will get error carried forward marks, right?
Nothing is carried forward so if you make an error on one thing it will not count for using it in the next question aslong as you have applied the correct rules. You wil still get full marks for calc the Ni correctly.
@curiousmeerkat said:
The lease premium bit was:£68,000 – (£68,000 x 2% x (6-1))
The (6-1) bit was because you don’t count the year the lease was granted, so just look at 5 years.
I’ll be honest, I’m not 100% on IHT. However, as far as I am aware you use the £325,000 first when the CLT actually occurs, looking back 7 years. There is only a PET so you have the full nil rate band to calculate the lifetime tax.
When he dies you have to go back again. The PET is within 7 years of his death, so becomes chargeable now for death tax. That PET will use up the band that you have to use again to look at the CLT for the death tax.
Yes thats what i did.
Can you remember how question 1 was broken down?Overall i think it was an okay paper but very time consuming…… i attempted the questions in the following order 1,5,4,2,3, 3 being the hardest and 5 being the easiest. I think question 5 was a godsend for us all as it was worth 15 marks.
Does anyone remember how the marking was for question 1 and 4? there were lots of small marked questions.
I can remember question one being (8marks) for adjustment to trading profits (6marks) for the tax payable (4marks) payment due on 31/01/2012 (2 marks) ?????
The second part of the question threw me can anyone remember what periods they asses in 10/11 and 11/12 and also when you calculated the NI on employment did you do 01/12/10 – 05/04/11 or to 30/09/2011???
Thanks@paulinethomas29 said:
this was a gud paper…anwsered all questions,,,,hope it was gud enuf to get me over 50 :)) and thank GOD there was no foreign currency risk…wooooohooooHi Pauline,
Will you please be able to tell us some answers you got. What did you put for the Working Capital Policy of trade receivables?
@aasdias said:
I got 4.79%, 87.6*25%/1050000,
1050000 ws da discount cost equals current finance cost.
Any new comments…If i can remember i did the benefit of the NPV which was around $0.816 mill and then divided it by 25% of the sales so 87.6*25% so 21.9 would take the offer up and that means that 0.816/21.9 = 3.7% max discount could be given before it would be zero benifit.
Does anyone know how many marks the follwing were?
NPV
Directors Comments
Re-gear betaI thought it was 12marks. 6 marks and 6 marks but that doesnt add up???
What did anyone do when it asked for the cost of debt? Did you jusy do the bonds or pref shares aswell???
Q1) NPV negative so reject
Directors comments – wrote about project period being 4 years on all, payback and roce not included tax and cap all.
Beta Asset – get BA from othe companies debt to equity and then re-gear using investing company.Q2) Raising 200 million did growth on profit etc and explained gearing already high so dont raise via debt as will increase gearing. Int cover also high and this debt would reduce again so risky. Rights issue bring gearing down but more expensive and harder to set-up.
Int on bonds- Lenth taken over the longer then higher int etc
Efficiency – didnt knowQ3) EOQ – Saved around £20k something like £70k with current and £50k with eoq
Receiveables – saved around $860000 and then settlement discount could afford to be upto 3%
JIT – waffled about the benifits i.e no wastage, no cash tied up stock goin out of date
Working capital policy of trade receivables – taked about the way it was funded and the cash managment and about the working capital cycle.4) DGM and Net asset – got $7.55 per share and then $755 mill for cost
Cost of Debt only calculated for bonds not pref shares
WACC 11.6%
Dividen Policy YIKES didnt chat much about this just said to determine – look at reserves etc see how much is available (prob got 2 marks on this)Can anyone please tell me what they wrote for the Working Capital Policy in trade receivables? Thanks
@derrickagyiri said:
youyou must first change it to beta asset before you factor the MV of the company investing in the new company
Note un-gear the beta equity of the similar company first before you find the equity beta with the current market value of the company investing in the new company
Is the formula ba = be (e/e+d(1-t) do you use the % of the other company first ??
Then re-gear with the % of the company who is investing with there % then calulate capm?Can someone help me with the question on the working capital policy on receivables? Is this to do with the way its funded e.g. long tern short term or is it todo with accessing credit checks and chasing the debt?
It was funny the way it was worded. 🙁
Also the Re-gearing one was the current company funded by 80% debt and 20% equity and the other funded 75% equity and 25% debt? Thanks