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I’m glad I’m not the only one who thought it was weird. Was very uncertain many times throughout the paper, but I think it’s “OK” overall.
The papers are just getting harder each sitting, especially F6. I hated section B.
Ran out of time only had 20 mins to do section c Corp tax question. Mucked up on the 10 Mark question as I calculated the Nic on total income. Can’t remember to many of the section b apart from the VAT one. MCQ I thought were not too bad although I could have them totally wrong. I only had answer D for question 10.
its hard to say how the paper was…
But hopefully I make a pass.
overall i was unsure most of the times about my answers and workings!First mcg guestion is 48500 was gurstion about inheritance tac 11400 i think then first guy was automaticly not resident. 15 marks guestion was easy i think. 10 mark guestion what was the nic?
I thought section A MCQs were in general fairly straightforward. Some section B MCQs were challenging, but also some easy marks to be had.
Section C, Q31 is type of question everyone should have practiced – slight variant on self employed vs incorporating.
Q32 and 33 seemed similar standard to those in specimen and past papers although there were a lot of capital allowance calculations!
I dont know why ACCA is trying to make our lives so difficult with the new exam structure! I dont like how 60% of the exam is against the MCQs, which is so unfair!! The MCQs were very very very tricky!
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this exam was very very interesting,it was like having a licence to drive a car and up to walk……hope i pass.
Hi All
Overall I thoguht it was straight foward with challenging questions in some places, could of been worse!
What from I remember:
Section C
Q31 – Worked out as normal income tax payable, NIC etc. Then the same if he didnt take the £8000 and 45600 in dividends, compared the savings. Think I got around £8K better off.Q32 I got a tax adjusted loss of £7930 I think, off set it against employment income. (Didnt deduct the second subcription)
Q33 – cant remember much on this one,
I got a balancing charge for the ceason of 15,300. Done the decuts/add back as usual. Pretty sure you still get capital allowances on pool cars? I also took the laptop into account.Few things that bugged me:
– VAT section B – I had the input VAT as £180, didnt take into account the surcharge?
– Unsure on the last two for IHT on section B, guessed.
– Loss of 108800, took it against total income, had a loss of 6500 b/f?
– Cant remember the other MCQs in section A…Roll on 17th Oct! Best of luck all
Sean
In the VAT question I got input at 180 when you took the surcharge at 49 it didn’t come to any of the answers. Therefore I just put 180. When I looked at questions afterwards most of them say net VAT liability, this one didn’t it only said input VAT. I spent a lot of time thinking over this one as it should have been straight forward
I got slightly different adjusted trading loss.. 8330 I guess.. Cuz I took advertisement expenditure.. Office place and capital allowance..
Class 4 NIC I got 3201
Am yet unsure about question 4.. VAt return.. 9 payments or 10 payments…?
Yeah.. For mcq sec B I took Input vat of 180..
What about the Q2 and Q3.. Q3 2012-13 contributions will not come as it is excess and chargeable to income tax.. 2013-14 reduced.the annual allowance and took the balance of 13000 to the next year.. For 2014-15.. Reduced the annual allowance with contributions and got 12000.. Added it with 13000… Got 25000.. 2015-2016.. 40000.. So I got 65000
Anyone with me..? :pQuestion 1 MCq.. We should not take transfer to friend.. As it is not inheritance… Other two will be taken ..So its 46500 mostly..
The MCQs were good i think , all straight forward questions.
But the section B question 3 on IHT , i had to guess the last MCQ.
Section C was difficult for me.The paper was quite similar to the specimen one.
Great chance for passing will be for those who practiced the specimen september 16 paper.If that person received salary that he and company pays no NIC since its lesd then threshold.
Personal allowance take 8000 salary and 2600 of divided DIVIDEND to be grossed 100/90.
Company tax is 65000-8000 dividend is not deducted time 0.2.VAT 180 to be split between private and business 108.
That two individuals first was not second was because of 2 years. I answered it wrong thought both are not.
The only question i could do it was that index allowance 120700 couldn’t do it.
Inherent nil rat band was 553000 not 590.
Loss allowance was to take against total income not chargeable gains for only one year.
Reduction in POA most probably its half of second year.
Frankly speaking multiple choice were weird long questions were very good.
Goodluck ???Section B VAT ques: What was the answer to the first ques on the dates to be registered;Notifying HMRC or sth for VAT registration..
Was it 30 September or 1 October?
I said 1 Nov for that one..the threshold was breached in Sept 15, have to inform HMRC within 30 days and start charging VAT from the next month i.e Nov.
No idea if it was right or not
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