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Greetings sir,
I understood how we got Question b and c solved. But neither did I grasp the Question a, nor how it got solved in the workings. It is very confusing – basis period, overlapping profits, etc.
If you could kindly breakdown the steps and elaborately and generously take me through the process, it would be quite kind of you.
Thankyou
If you can provide me with the question and answer I will try to explain.
Dont you have access to the BPP Revision Kits, sir ?
I thought there would be copy right issues, thats why I dont copy paste the questions and answers word for word, unless there was a flaw in my understanding regarding these copy right disclaimers they advertise in the books.
I am not aware of any copyright issue of a student requesting assistance in answering a part of a question – but before you supply that information to me it appears from what you have said in your original question that this is simply an issue of determining an assessment or assessments in the opening years of a new unincorporated trade.
This is a basic study area that is dealt with in detail in the available lectures and study notes and therefore should not have required you to pose this question at all.
Have you worked through the relevant lectures and notes??I have currently reached chapter 5 to deal with Capital Allowances , and from further observation it appears this part A of the question refers to a future chapter to be taught dealing with basis periods. Perhaps that is why I got confused with the question itself to begin with.
As for copy right disclaimers, are you saying it is perfectly fine to copy paste those questions and answers as long as it is for education purpose and not for monetary purpose ?
Because they write in their book:
“All our rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means , electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of BPP Learning Media Ltd”.
That is why I had assumed the best way to get assistance from you would be to give you the reference to the question and answer material causing the problem, for you to to then investigate these in your own BPP Revision Kit, and then guide me through them nicely.
That’s how I worked with Sir John Moffat in the earlier subjects within the forums. He said he had access to all the BPP Revision Kits.
So let me know how it should proceed from now on with you, dear sir.
1) Do you have access to all the BPP Revision Kits of Tax ?
2) Is there some clarification needed in the copyright for my understanding?
3) Suppose you require putting the exact question and answer here , what to do in those situations where the question or answer are in a table or graphical form instead of just text ? Or when the Question and Answer are just too time consuming to type down because of their excessive length ? Would providing just the referencing as a result not be a more efficient method ?
Thankyou
Firstly my apologies for delay in reply.
The most important issue here is how you are approaching your studies – you MUST firstly go through the OT lectures and Study Notes for each tax BEFORE attempting ANY past exam questions from the BPP Kit. You cannot run until you have learned how to walk!
I will purchase a BPP kit for ease of access but I will not deal with any questions from there until you have worked through all the relevant lectures and notes and completed the assigned work at the end of each chapter and when you do have a technical problem arising from a BPP question you must firstly return to your OT material to try and solve that question
Thankyou for the Advice sir. I learnt this method of doing one lecture then referring to the revision kit, and then moving onto next lecture before again doing the revision kit – from a private institute I attended, before discovering opentuitions. They taught me in a sense “to jog”. But then I discovered these problems I faced at times that you clearly pointed out. There seems to be both advantages and disadvantages. I have never tried your advice. Now I have already reached Chapter 21-22. So I will try to implement your advice with the next subject I do God willing, and experience the difference.
I only just noticed you replied today. Sorry as well for the delay in my response time.
Sorry for the late response, I wish Open tuitions had a feature where they would automatically send an email notification if someone replied to a thread that we made or a comment posted long back.
I will see to it God Willing, that I try your advise for the next subject I do and experience the difference. I already reached Chapter 22 using the current method that I learnt from a private institute before discovering opentuitions.
In each subject please be advised by that tutor as to how best for that subject to combine your use of the OT lectures and study notes with the use of the exam kit.
The key issue is not to attempt to work exam kit questions until you have accumulated the knowledge that will allow you to do so!
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