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I found the exam ‘doable’ though that does not count for much as sometimes I think I got the right answer and it tends out to be the opposite. I was quite calm and collected in the exam and; though the last question was not quite complete :]
It went ok, didn’t learn the majority of dates or tax administration rules so lost marks there. Also have a few questions for anyone who knows :
For chattels sold over 6k and purchased below – should the calculation for gross proceeds include or exclude selling fees? Had a sale at 7200 after auctions fees and wasn’t sure to use (7200-6000)x5/3 or 7200+auctions fees-6000 x 5/3.
For cars bought for higher price and sold in same year at lower, would the capital allowance be the difference between purchase and sale?
Are bonuses paid to non directors added to employment income on payment date or entitlement date?
The chargeable gain for such chattels is max gain calculated from gross proceeds, so yes we had to add the auctioner’s fees.
Im not sure about the capital allowance either.
The bonus is added on the earlier date of receipt or entitlement
The exam was okay. I found most of the questions to be quite tricky. At one point I felt I had the right answer then I started wondering whether this question is as complicated as I thought or just required a simple calculation. I then ended up getting the answers to all other options. Although I worked almost every question I can get my hands on (prior to the exam) not even one question repeated in this exam especially for the multiple choice aspect. I was really hoping to get some easy marks there.
The exam was ok. Section C is easy after I completed the all exercise in bbp text study, but the hard bit is I did not do review for the date submit return and payment date for individual tax and corporate tax. Anyway, exam finish relax now and keep going 🙂
@pryah92 said:
The exam was okay. I found most of the questions to be quite tricky. At one point I felt I had the right answer then I started wondering whether this question is as complicated as I thought or just required a simple calculation. I then ended up getting the answers to all other options. Although I worked almost every question I can get my hands on (prior to the exam) not even one question repeated in this exam especially for the multiple choice aspect. I was really hoping to get some easy marks there.That’s the trick! All options do seem right and you will get the answers to all other options because they are not random (made up) options.
Let’s say you get a question were you have to calculate the Class 1 NIC employee(primary)One of the options will be the right one.
But all other options will be based on common mistakes by students.
Like there could be a option which would be the answer for Class 1A NIC
Another one could be of Class 1 employer (secondary) NIC.
These are correct answers but not for the question that is asked.So that’s why we need to read the question well and think making all considerations before answering
I personally found that CGT and IHT dominated above the other topics. But I would say the paper was time pressured.
It was obvious that it won’t be easy and will be tricky since we are studying a professional qualification here… Studying to become professional.
I hope all comes out well.@floralin2012 said:
When the result come out for September 2018 exam? Thanks.15 October 2018
@jeromeb said:
15 October 2018brilliant, thanks !
The questions were not that way thought, but very tricky. Notwithstanding, I was able to attempt all of the questions. And I know by His (God) grace it will be fine at the end of the day. I wish you all success
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