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

A very different style exam.

@javna

habari yako

Answer to section A, 15? was it 56K and 0 (D)?

Section C, Q31, amount of max additional contribution 94K, as max is relevant net earnings, and 62K c/f in 2016-17? and max limit for ISAs 15,240 (didnt time apportion it as the limit is annual, therefore he could invest max in 30 days, but nothing afterwards?)

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

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

@suf23
yeah that was the one.

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?!

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

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

@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

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