*** ACCA F6 March 2017 Exam was.. Instant Poll and comments ***

First 4 mcqs had the answer D D C D?

🙁 that’s not what I had
Tough exam – was completely thrown by a few of the mcq

Answers of MCQs
accd
ccbb
abbb
addc
cbbd
cbbd
dacd
ad

Tough exam compared to previous papers I feel. Clever with the section C question about trading profits for a property company (distorted the idea of capitalisation).

MCQs were fair I thought but difficult VAT questions in section B.

Also felt the paper wasn’t very clear – e.g. working out Hamish and Ivy’s NRB: there is nothing to say about an NRB transfer. Also the car reclaim in the VAT question – it is not clear as to whether it was subject to any private use.

For those who remember all their MCQs options – surely you’re more focussed on getting them right than remembering them to query them on this forum!?

I thought overall it was a fair paper. I did the same with the ct due dates though – what did people put for the question regarding electing for short term capital allowances? I finished the exam with plenty of time to spare so I hope I didn’t miss anything but none of the questions seemed to test knowledge too harshly. Fingers crossed for a pass

Strange section C questions. Not really come across any questions like them in any practice papers or books.

The first question was very vague, hoping I got enough on the corp tax question to make up for that.

Hi all, I found the exam quite difficult. The multiple choice questions were not very straightforward. I wasn’t too sure about the capital gains one and the vat one.
For section B, I couldn’t get the taper relief, but did everyone just deduct the clt for one of the questions? And leave the pet. The vat and cgt questions were rather tricky too!
For section c part a, I calculated the the income tax for the married couple abd the class 2 and 4 nics separately. Will I stil get some working marks? Also for the inheritance tax part inwthis question, were you just meant to do 325000 x 0 and then 9000000-325000 x 0.4?

For the next question (trading profit question, I did the proceeds and the loan less the legal costs on sale and purchase, and less the capital allowances. I think this is completely wrong as they weren’t asking for this? So will I get nothing?

Finally for the last question, the short life part, I stated it relates to a depooling election, and if the proceeds exceed the disposals we have a balancing allowance. Also if a short life allowance is less than a £1000 the company will be entitled to a 100% write off. For the final part of the question, I included the premium in the property income calculatoion and put the insurance only up to 31 March 2016, is this correct?

Sorry for rambling on! I’m worried I haven’t done enough to pass

Faze

Hi msarosh, yeah I spent like well over 10 minutes and couldn’t get it like you!

I did the same for the Hamish and Ivy question and the property income questions. Hopefully we get something from that 🙂

Yeah, inheritance tax was really confusing. You’ll get some credit for cooperation tax in the last question.

I think for the second part of the inheritance tax question I put 05/06, 06/07 and then for the other clt 07/08. I just did them in order of which one appeared first. I can’t remember which answer it was.
What was the third question?
For the interest payable I said or is half of the income tax liability and the due dates are the 31st January and 31st July, so half will be paid in January and the rest in July. Don’t know if that is right.
For the indexation cost question, I don’t remember the answer, but the method of working is creating a share and indexed cost and then dividing the shares sold by the total number of shares and then multiplying that by the cost.

Is that what you did?

I always thought the £1000 100% write off was only for pools and the short life asset wouldn’t be in a pool and therefore not entitled to this?

@amalhotra said:
Did anyone think there was some information missing in the share question (no 24 I think) where we had a purchase and then a sale of share but no sale value? Maybe I missed something but there were associated costs for all the purchases but no income for the sale…. thoughts?

Yes same for me. There was a disposal of 7000 shares, if I remember correctly 4000 of which were in the next 30 days so then I composed a share pool computation and the sale of previous shares had no value next to them which I had never seen. Perhaps these were mean to be bonus shares? I believe I ended up choosing any answer as I was not able to actually get any of the four figures from the multiple choice answers.

Yeah!