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The exam wasn’t difficult if you’ve practiced enough questions, most of them I remember seeing before, at least very similar ones. Either in revision kits or in past papers on Acca website. So, my advice to whoever is studying taxation now – do past papers and mock exams from BPP revision kit.
Still not sure whether I’ve passed it, though, as all these little bit and pieces that is so easy to forget and loose marks on.
I found it manageable and the time was enough. You either know it or not, thinking long time would confuse even more. If don’t know at all, just write what you think is right.
Not going to analyse it until get my result. Just move on and enjoy the upcoming weekend Without studying :))The exam was very fair. There wasn’t anything a student who has studied TX couldn’t solve. As @kate108, mentioned above, if you have learned the key stuff and did the revision kit and past exam questions, you can pass this exam.
Now for my experience, I am 100% satisfied with Section A. No mumbo jumbo, very clear cut questions, there were about 3 questions on self-assessment, very basic Income Tax, I had alot of IHT questions. Also heads up, now a days, Hot area is very popular, so please make sure you have clicked the areas needed.
Section B, again very satisfied. The VAT, CGT, and IHT questions were fairly simple. I had two IHT cases. So maybe one of them was seeded. If you have the basics of all three, Section B could have been solved without a problem.
Section C, for the 15 mark Income Tax question, I can say it was very similar to those in the past exams and kit. Had the same why choosing 30 april is better than 5 april or 30 march. Corporation Tax was slightly tricky, especially because of the CGT portion.
For the 10 marks question in Section C, very tricky, you have to be precise, go around the question and find whats needed. It just clicks whats right. Again as it has been mentioned in the articles, higher skills are tested here. So please read that article and for this question, I needed to keep in mind IT, IHT, CGT. So you can imagine they covered all three in simple questions.Good luck to those giving in future. Please prepare for this exam in a span of good 3 months, dont rush, dont leave things for end. It will burn you. Go on a steady pace and practice alot. Time is not an issue in the exam if you are aware of your tax.
The exam wasn’t exactly easy. Not for me, I am afraid. As I am not a UK citizen, the whole syllabus of UK taxes was quite hard to grasp. The VAT, which is something each person working in finance deals with on a daily basis, is rather a marginal topic in the syllabus and so it was in the exam itself. However, there were a lot of IHT questions. Weird! Unlike in other exams, I noticed here that the examiners incoprorated a lot of nasty detractors in the questions, like an expense for a tombstone, which confused me completely.
@falmata said:
@Tasbihak you were very active on Sa’ad Mohammed’s webinar. I admired how you were answering all the questions. I am glad I watched his videos. It really helped me.Haha yeah, I was trying to get the most out of those webinars. You’re right, they were very helpful. Especially for little techniques.
Good luck for the result and further exams.Yes, there were indeed a lot of IHT questions, fairly straightforward tho mind. Section A was very simple, and section C was a lot easier than i anticipated, although, my only gripe was the fact i came close to struggling for time due to me spending too much time laying out the proformas, I felt the exam overall was a lot easier than the free mock exams I had tried on BPP and Kaplan, and regarding the tombstone expense, I went with my gut feeling and included it as an allowable expense based on the maxim that any expense regarding funeral is an allowable deduction
What’s everyone’s next steps from here on? I’m planning to do PM and FR for june attempt
I included the tombstone, it was a bit of a curveball they threw at us as I hadn’t read it anywhere. Thankfully was right to do so.
https://www.gov.uk/hmrc-internal-manuals/inheritance-tax-manual/ihtm10373
The paper was tricky in few places but wasn’t tough if one had studied all the chapters and practiced the problems as much as possible. Open Tuition and BPP Revision & Practice Kits are an excellent source of tuition and revision. Hope to pass 🙂
@unfazed said:
What’s everyone’s next steps from here on? I’m planning to do PM and FR for june attemptAA and FM for June attempt.
@ryanb88 said:
I included the tombstone, it was a bit of a curveball they threw at us as I hadn’t read it anywhere. Thankfully was right to do so.https://www.gov.uk/hmrc-internal-manuals/inheritance-tax-manual/ihtm10373
I didn’t spend too much time thinking about it, if i do i usually end up rationalizing both situations equally in favour haha
@ryanb88 said:
FR and AA for meInteresting combo, I chose FR and PM as I’ve had a fun time pairing 1 financial and 1 management paper since FA1 and MA1, so I’m hoping it proves to be a good choice this time too haha
@ryanb88 said:
I included the tombstone, it was a bit of a curveball they threw at us as I hadn’t read it anywhere. Thankfully was right to do so.https://www.gov.uk/hmrc-internal-manuals/inheritance-tax-manual/ihtm10373
I had this question too..i didn’t see it Any where else…I just guess!
Also I had section C all about Loss what i hate and I didn’t care much in revision , they where 2 question about Loss
the exam was ok. to think i was nervous at first about writing tax on cbe. And now cbe turned out to be my most prefered examstyle :). anyone writing f7 in june? wont mind a study buddy
It was ok. Most of the questions were similar to the ones from Open Tuitions Notes. Cant say if I’m going to get through but I did attempt all the questions.
@cathyspicy said:
the exam was ok. to think i was nervous at first about writing tax on cbe. And now cbe turned out to be my most prefered examstyle :). anyone writing f7 in june? wont mind a study buddyI’m open to the idea of a study buddy. I’m going to be attempting F5 and F7 in June
@unfazed said:
I plan to do these in the september attempt, and after which i shall be done with the F-papers. are these your last of F level too?Meant to reply @tasbihak
Yep these are my last F-level exams, I actually cant believe im on these exams now. I also started from FA1 and MA1. Really excited to get ACCA done within a year, hopefully if I pass all the exams.
I share your sentiments. Only this is that I’ve resolved to sitting FM, AA, FR in June 2019 so no rest for me. Im dedicated to finishing all exams by December 2019 sitting.
All the best to you!
Location : Saint Lucia
The exam was a bit easier than I expected (or I’ve prepared myself better than I thought). I’m expecting a clear pass with over 70%.
This was my last Skills level exam, still haven’t decided which one (or more likely two) from Professional level will attempt in June.Goran, surely ATX if that is one of your choices, whilst all this tax is fresh in your mind you can really hit the ground running.
Planning to do F5 & F7 too, open to a study buddy – not too sure if its going to be manageable to do two exams?
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