TX*** ACCA F6 December 2016 Exam was.. Instant Poll and comments ***

A very different style exam.

where the people @

@javna habari yako

Cgt scenario base question any ans b,dnt had enough time just random ans?

Muzuri how was the exams

@suf23

There were a couple questions I really kept doubting my self about. First was accounting for Input VAT for the purchases still in inventory The capital allowance for the laptops, and if the discounted figure or full cost figure should have been used Question 15 regarding the gift relief. I put 0 as the person was not the business owner Overall I thought the questions were slightly tougher than previous past papers I've been through

@javna Was a bit different. the two 15 mark Qs, i haven't seen too many of those type. The written 10 mark Q was easy. Not bad though overall. How did you find it? hakuna matata bana! :)

@suf23 the MCQ I hacked most of them, Q32 & 33 was okay Q31 & the CGT was abit hectic for me.

@javna The CGT Q, was that the one about the lady who sold shares in two different companies?

@suf23 yeah that was the one.

Q32 & Q33 was ok...Q31 b.i. & ii

Employment benefit question did anyone knock £5000 off list price and use 18% for car benefit? Also capital allowances for Corp tax question got the 8/12 WDA for Special rate pool and Main pool the first car I put as FYA then someone told me it wasn't new?!

I was slightly confused about that, FYA is for new cars. So i decided the put 'motor car 1' in the main pool. not sure if right. 18% was the right percentage. I deducted the employee contribution from list price as well.

In my opinion in general the questions were harder than those in the previous session. Some questions were with a style I have never seen in any F6 past paper. I doubt I will pass

@andyc1 I agree. A very different style of exam!

Wda Yh gp 18%*8/12 sp 8%*8/12 nd co2 with 64 second hand car soo in gp

OT used to give answers for mcq did that change

@ritaalbu Q31 I interpreted the question differently, as asking what extra he could put in the personal scheme without being liable for tax. Assuming he'd contributed £6000 the previous year too I carried forward £34000 from 14/15 then same again for 15/16, so extra he could pay in 15/16 without paying extra tax was £68000. Still within £100,000 trade income and will also increase the lower rate tax bracket from £31,785 to £105,785. Nothing to carry forward as the whole £40000 allowance for 15/16 is now used. I may have interpreted the question wrong though. What did anyone else do? Also on the ISA question the 30 days go over April 6th so I put that he could put the annual limit in before 6th April and then a second payment after the 6th for year 16/17 so max ISA contributions in the next 30 days was ISA limit x2 provided the payments are made separately and at the correct time. Anyone else do that? The ISA one was a complete guess :S

@suf23 Damn I forgot about car 1! I put car 2 in main pool, car 3 in special and left car 1 to add after as fully allowable as under the g/km threshold. Just realised I actually missed it off completely noooo!

My MCQ answers. Please reply is anyone got something similar. 1.C 2.C 3.B 4.D 5.B 6.D 7.C 8.B 9.D 10.C 11.D 12.C 13A 14.B 15.C 16.C 17.B 18.D 19. 20.D 21.A 22.C 23.C 24.A 25.B 26.C 27.A 28.D 29.B 30.C

@ritaalbu I did the same on Q31, but for ISA i did not have a clue

@carlypurvis no worries. most likely only 1 mark.

I did the same for the capital contribution towards the list price. I didn't realise that the car was second hand either and gave it FYA!

In Q #33, when we were told about the used computers bought for the capital allowance computation, did they give information about it's current market value to throw us off?

@ritaalbu Ofcourse! damn, I forgot it was 3 years not just the prev year. Oh well, there's always resits! Whoops

yes, I chose A for mcq #5 as well.

@ritaalbu Yeah, I multiplied the amount they actually paid for the comps by 3. I ignored the part where we were told about the full price of the comps.

The exam was so difficult! Nothing what I expected!!! Ohh there were so many questions on benefits :( What happened with medical insurance was it taxable!

What was home entertainment system benefit ?