ATX*** ACCA Paper ATX December 2018 Exam was.. Instant Poll and comments ***

As I think company will also have to pay corporation tax on dividends payment to Wanda and roth.anybody with Kaplan book can please refer to tyu 4 of chapter 26.i am not sure..

The p6 Dec 18 attempt paper is now available on acca website

A company does not have to pay CT on dividends paid or recieved.

I checked up with an ACCA tax prof

Whay do you mean

Looking at the paper, just realised that the gift of cash of 160k from the dad was at death, so shouldn’t have removed 6k AE. So the NRB left from the dads death to transfer to the mum should have been 165 not 171 :(

If the money is given on death, I don't think we need to reduce the NRB. If it is a life time gift only then the NRB will be reduced. I took 325000 transferred from father Pavel and 151000 unused NRB remaining from mother Lucy along with 1lakh RNRB of mother Lucy and 100000 RNRB of father Pavel as deductions

I just want to get a 50 and pass the exam. That's it.

165000 divide 325000 Percent Add percent to lucy nrb

Does anyone include class 4 and class 2 NIC on that partnership in question 1 I think they didnt ask for that

I think I've made a blunder in the question number 3 liber part. Does anyone know how much marks would ACCA deduct if I did a calculation mistake while considering the consideration due to which the other answers came wrong too? I've written on takeovers share to share transaction is a no gain no loss transaction and those gains are deferred till the sale of the shares. I've also written cash recieved on takeovers would be attracted to capital gains at the time of disposal. And in the b) part I've mentioned that he would get an additional AEA in the next year if he sells the shares. Also, the capital gains tax payment date can be further delayed if sold in the next year. How much marks will they give for this? Does anyone have any idea?

Does anyone here included class 2 and 4 national insurance on question 1? I didn't include the national insurance cause question clearly mentioned for "income tax payment" so just calculated income tax liabilities and then period of account

@daisypeg said: Did anyone talk about investors relief if she would have waited to sell the shares in q3 pretty sure I read somewhere that 2019/20 would be the first year investors relief would be claimable?

I think it might have got an extra mark or 2 now that u think about it! But, to get IR you need to have the shares for 3 years from 6/4/2015. I didn’t think the new shares in the takeover would have counted, but now I think they would have :(. Hopefully the use of the next years AEA should still get a couple marks Does anyone know if/when they post the answers on the acca site?

I just spoke to one ACCA professor and enquired about the relocation expenses in question no 4. It was definitely not living accommodation. It would be considered as relocation expenses only but maybe 3 months of rent might be considered as relocation expenses. Also, if the concepts are right and you've done a calculation error somewhere, they do give marks for the concepts and format. I'm just hoping to get the magic figure of 50 and clear this exam. Fingers crossed.

Thought I had done just enough to pass the exam, but reading through the comments....I am thinking the opposite now. Guess I will have to re-sit in March

Does anyone know when they publish the answers on the ACCA site?

I did exactly the same as you, hopefully we both got it correct.

@abejide09 said: Any help guys??

I did this (could be wrong) The period which only the owner occupied the house needed to be assigned 100% tried. The period which the tenants lived there needed to be assigned 70% with the exception of the last 18 months, which always gets 100%. Then apply letting relief afterwards

Does anyone on here know when the ACCA will publish the answers to the December exam on their past papers section of the ACCA site? Pleaseeeeeeeeee

The examiners report for the December 2018 sitting is now available

@hassandiamond said: Does anyone on here know when the ACCA will publish the answers to the December exam on their past papers section of the ACCA site? Pleaseeeeeeeeee

The examiners report for the December 2018 sitting is now available

@lstapley89 said: The examiners report for the December 2018 sitting is now available

Thanks Laura!!!

Good luck everyone!!!