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Yes absolutely. Average 2/3 hours per day from now until 2 weeks before the exam and then use the last 2 weeks to question practice.
Everyone gets 40k a year. This can be reduced dependent on income to a min of £10k.
You can carry back if you’re a member of a registered scheme. Which in the question he was. The two 8k payments made would reduce his annual allowance to £32k in each year.
It’s not a personal pension limit (allowance), it’s all pension contributions.Yep this right. You got it right! Most of the rest of what you said about the other q’s was right too. Let’s see how we do, hopefully we’ve written enough stuff to get to 50!!????
*Was previously resident so based on the days spent he spent during the tax year he came back to the UK he needs 2 ties to trigger residency.
No Amman . There were three ties.
1. Wife and daughter
2. Was in the UK more than 90 days in EITHER of the previous 2 tax years.
3. Stays in available home at least one night in tax year.Was previously resident so based on the days spent he spent during tax years he needs 2 ties.
Pretty much agree with you on everything else though.
Eis was near the end and I’d lost the will to live by then but think there was something to cling on to re the sale happening less than 3 years. Also that the deferred gain on the painting(?) Would become chargeable on the sale.
Contractor bit was so you restrict the additional relief specifically in relation to the element of the staff costs.
100% + (65%*130%)In the question there was an option that it was either the individual or it could be the company. John or JJB limited , something like that
But he received a payment in the prior year to his pension of £8k, the following year £8k. This has to reduce annual allowance.
He can contribute whatever he wants to the private pension but if he excess his allowance he’s liable to the charge on excess.
Annmarie. I think you’re right. CFC charge would only occur on divs from the foreign co to the UK if the tax rate was sufficiently low etc and there being a UK non res entity involved. there was no 75% loss or gains groups so i’m sure it was getting at consortia.
You’re probably right. I thought the company was a UK Res co with a foreign pe.
With the pension bit his company had put £8k per year , so wouldn’t that count towards the £40k, i.e 40-8 = 32 for each year.
85 – 32 – 32 =21k charge
I think the other part to q4 was the gift of the cottage and (I think) gift with reservation. He’d paid iht and she’d died 10 years after the gift!
Ann Marie was there consortia in the loss relief as there wasn’t a loss group etc or was I a million miles away