[thelastfinalist]

@walder96 said:
Passed 52

Congrats! Also passed with 72 can’t believe it!

[thelastfinalist]

Ow there it is! Passed! Hope you all the best!

[thelastfinalist]

Nothing received yet!

[thelastfinalist]

Every minute is painful lol

[thelastfinalist]

@seista said:
how long to wait. is there an exact time of publish ?

12AM GMT so 16 minutes time

[thelastfinalist]

@rkoli said:
Not long to go. Is there no live chat?

No idea tbh didn’t know OT did live chats

[thelastfinalist]

@hampine said:
I know couple of guys here from previous thread @wallace and @thelastfinalist I wish you guys good luck. The thread that was deleted was fun.

Good luck! 🙂 all will we well at the very end.

[thelastfinalist]

@beloslava said:
there must be at least three different guys…

The same started at least 2 he’s done this before on a different account. Nice guy though

[thelastfinalist]

@irish15 said:
I am assuming it is the link theory that is getting them deleted.

It’s not. The guy who made the threads deleted his OT profile

[thelastfinalist]

@irish15 said:
I am waiting on ATX as well. Considering this was the 1st session for the new format I cant see them wanting to start off on a bad note.

ACCA love to throw spanner’s in the work during new formats lol

[thelastfinalist]

Good luck all! ??

[thelastfinalist]

Why would anyone forfeit? You won’t gain anything except extra time needed to complete the qualification.

Just sit the professional papers and study more for longer. That’s obviously the logical choice.

[thelastfinalist]

@jennie1984 said:
Was it 3 maybe? And a separate one had about vat groups. Definitely rushed in places and starting to doubt my answers!

Yeah I can recall a separate vat group question. I’m sure you did fine most of your answers seem reasonable to me!

[thelastfinalist]

@jennie1984 said:
Vat implications of registering voluntarily- I said avoids penalty interest from registering late, they can disguise size, they can reclaim input, it wojtceffect competitiveness as it said all their customers are vat registered

What question number was this one?

I’m pretty sure I wrote exact same as you

[thelastfinalist]

@cat2436 said:
There were also 16k dividends in year with 90k, so total 106k

Whoops think I missed that

[thelastfinalist]

@jennie1984 said:
Yes I did 230(200) then wda 8% and 160 (0)aia then wda 18%. Then just wda on the TWDV Bf in year 2

I think we should have covered the integral features first sadly I didn’t think about this til after. It’s only 8% wda so better tax savings to use Aia first.

I did 160k off Aia then the rest of building and put integral features in special rate for wda.

[thelastfinalist]

@jennie1984 said:
Second year totalled 106000 I thought so was a restricted to 8850 PA. I used the aia against the special rate. Then wda on remainder. Then wda in year 2 on both

I must have picked up the wrong figure then ?

[thelastfinalist]

@7122517f said:
No we don’t require to calculate capital allowance for two years in question 2 Cause building and plant and machinery purchased on the same year

But you only get AIA for 200k a year acquisitions was 160k plus I think 230k?

[thelastfinalist]

@7122517f said:
On the corporation tax, question#2 they have asked you for one year capital allowances cause building and plant and equipment purchased on the same year

I did two years because the aia didn’t cover the full amount so some wda was needed for 2nd year

[thelastfinalist]

@jennie1984 said:
I wasn’t sure what to do about salaries. I carried back on opening year relief and in doing so this also allowed the reinstatentnt of the restricted personal allowance of the second year

I don’t remember a restricted personal allowance? The earliest two years was £80k and £90k with no dividends so I’d assume there would be not restriction under £100k?

Must have missed something

[thelastfinalist]

Small enterprise for R&D so 100% relief plus another 130% is what I’ve done in this part which I hope is right

Excluded expenditure on consumables and rent of building? Plus the contractor?

No sure if that is correct

[thelastfinalist]

@carlylucken15 said:
I worked out an income tax liability on the EMI shares as the option value of £2.30 was less than the mv of £2.60 not sure if this was correct.

I think the question was on disposal proceeds after CGT but I think income tax is liable at exercise if the price is lower than value you get income taxed on difference?

[thelastfinalist]

The question that really got me was the laptop cash lump sum and rent paid.

Didn’t know where I was going in that question

[thelastfinalist]

@cat2436 said:
I couldnt decide whether the salaries were already in the loss or not so just guessed and took them out again. Yes then i used the loss against the oldest of 3 years first and mentioned the part of his personal allowance lost in the second to last year could be reinstated.

Part a of that question i only had a very small tax liability against the emi shares maybe 2000 ish so after tax proceeds were in the £70-80k region

My mind blanked on emi shares choose the value at £2.60 option price for base cost?

[thelastfinalist]

@cat2436 said:
I did the same as you. I had no tax for either company for first two years and still quite a big loss carried forward.

Can anyone remember any other answers? For q4 i deducted the 40k salaries from the 47k loss to make the loss 87k before spliting it 3 ways, no clue if tht was right. I then put 4 months into 18/19 and 8 months into 19/20?!

I assumed the losses took into account the salary although thinking back probably should have read it carefully. I also carried the loss back 3 years to the higher rate earning salaries of 80k and 90k but I’m not sure if this is correct at all.

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