Forum Replies Created
- Posts
I’ve taken exams there in December and June. I think I wore a t-shirt and jumper both times, and didn’t have any issues.
Don’t think it is. Or it may be allowed, but they recommend that you not use it. It’s really no issue, just cross stuff out.
Passed with 70%. Confused. Thought it was a certain fail.
Good luck to everyone.
Passed with 86%.
No idea how. Left the exam hall thinking I’d failed, at best I thought I would just scrape through if lucky.
Really pleased. Good luck to everyone. 🙂
How did you guys answer the last part of question 1? I put down that he should have paid for the full cost of the fuel and used the money left over to pay towards the use of the car.
The paper itself was not difficult. The problem I had was lack of time. I think I may have spent too long on question 1, which meant the rest of the paper was very rushed. I’m pretty sure I’ve lost lots of marks along the way as I didn’t have time to double check everything in case I had missed something.
If only we had more time!
The information is given to you in the question.
J Ltd holds 25,000 shares in G Ltd. Following the takeover, J Ltd receives one ordinary share and two preference shares in K plc for each share held in G Ltd.
The market value of the ordinary shares and preference shares is also given to you in the question.
Unless your basic rate band is extended by personal pension contributions or gift aid donations, taxable gains will be taxed at 28% over and above the basic rate limit.
If the gains qualify for entrepreneurs’ relief, they will be taxed at 10%.
Where is it allowable? Bayle Defender has two jobs. She is a a self-employed lawyer. She is also a director of Acquit & Appeal Ltd. The remuneration received relates to her work as a director. It has nothing to do with the adjustment of taxable profits.
I noticed that one too. I kick myself when I check the answer and it differs, then I realise it’s their mistake and I feel relieved.
Answer I got was £72,723.
You take into account the annual exemption even though it is a PET which may never become chargeable. In your example, the gift is a PET of £489,000 (£500,000 less marriage exemption, less annual exemption for 2009/10 and 2010/11).
Building society interest is received net of basic rate tax. You’ll have to gross it up before slotting into an income tax computation.