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@claudia123 said:
Oh wow, looks like my comments are being edited and references to external materials are being removed :-/ slightly awkward as I believe this was key to my success, but hey ho!Yes same here. Was critical in understanding the questions that were in the paper. Oops.
@tasnimrxo said:
Hi all, congratulations to all that’s passed, please can you explain what methods you used for study? It’ll be a great help!And also read technical articles and practice past papers.
@haidernchd said:
Question paper is out already on accaglobalWell looking at the exam paper again, I attempted 85% of the paper. If I get 60% of the 85% I attempted, I should be ok.
Capital goods scheme, no repayment to HMRC for the first few years when used as wholly for trade purposes. 1/10 repayment back to HMRC each year for the years when it was let out (not used at all for trade purposes). On sale, repayment of 3/10 of input VAT claimed as I think it was sold after 7 years of ownership.
BPR applicable if and only if her son keeps hold of the shares at the time of her death. If he sells the shares and do not reinvest the proceeds in relevant business assets, the full death tax will apply if she dies within 3 years of gift and taper relief accordingly for surviving between 3 to 7 years of gift
Well that’s what I put down anyways.
@nieffee said:
Hey guys. Sorry still thinking about the exam and that 15 out of 20 years , suddenly thinking isn’t there a clause that means Something like ….If there is no tax year beginning after the 5 April 2017 and before the relevant tax year in which there were a UK resident, then the condition wouldn’t be satisfied?
First condition is 15 out of 20 tax years ending the previous tax year.
The second condition is one year uk resident in the last 4 tax years ending with current tax year.
Well good luck to all. Out of our hands now. I felt the exam was fair and hard but doable.
@nieffee said:
Correct me if I’m wrong. But she left UK feb 17. So would have been uk resident 16/17
Didn’t come back till May 20 So uk resident 2020/21So non UK resident
17/18
18/19
19/20So was only a UK resident for 6 of the previous 9 years. So no remittance basis charge
Atleast that’s what I have putRemittance basis wasn’t available for her?
She was deemed domiciled in uk as have stayed in uk since 1999 until 2017?@mansurali said:
Guys what have you written for Chargeable gain implications in respect of sale of subsidiary?There should be substantial shareholding exemption as have owned continuously for over 12months within 6 years of disposal.
Passed with 53%. Was convinced I have failed this one as I could not answer half the paper.
Horrible horrible horrible. Nothing like specimen or past SBR papers. Definite a resit for me. Will be my first ever resit after passing the last 10 exams first time.
Passed with 60%. Thanks to OpenTuition. I thought I would get better than 60% as I thought the exam went really well.
@sapphire16 said:
Did anyone also have a section B question about an insurance claim made by the audit client of $0.9m where they recognised the claim amount as a current asset receivable? The insurers couldn’t confirm if payment would be made and if it’s not resolved what would the audit report opinion be.It seemed to be about how to treat a possible contingent asset, and my answer was along the lines ofthr claim receipt not confirmed as probable/almost certain, so the provision treatment was incorrect and a qualified opinion would apply
I had same question and I gave a modified opinion also as it was material but not pervasive.
@meaurement said:
This was my first CBE and found the sound of typing very off putting at times in particular whilst reading through a scenario. I had to re-read a scenario 3 times due to the volume of typing by the person next to me.
Not a fan! Absolutely fine for multiple choice questions but not for written.Yes I agree that the sound of 15 other candidates typing was very off putting. Even so, I completed all the questions within the allocated time.