*** ACCA Paper TX September 2019 Exam was.. Instant Poll and comments ***

did anybody got a question in VAT section B
“mr XYZ imported some goods from Overseas’ what would be its entries

options were
a)output vat 200,input vat 200
b)output vat 200
c) input vat 200

I got the cash accounting self employed question – Did people add back the motor expenses and other stuff and just deduct the mileage expense?

Also was the answer to the tax on death estate 140K – Deduct the house from the total as it was left to the wife and tax at 40% – I guessed that there was no NIL RATE band left as it was all used up in lifetime gifts?

Another interesting question I just remembered was the tax point one…it was delivered on the 28th Feb, invoice sent on 10th March so within 14 days, however they’d paid on the 7th March. All the examples I’d seen before had the payment happening before the delivery so hadn’t seen this problem before…I went with the 10th March thinking the invoice within 14 days is most important? Think thats only over-ridden by payment if payment is before delivery.

@jamesrob90 said:
I had the employment income for section c. Thought it was ok, the loan, home
entertainment and car benefits were quite straight forward. Was the capital allowance just the full amount in the question? I didn’t take 18% due to AIA, Did you have the diesel car at 36%? I messed up with the interest!
Did anyone have the Q where one company transfers an asset to another where it owns over 51%, and you were to calculate the capital gain. Do you use the market value when it was at company one or when the new market value now it is owned by company two ?

I got the employment questions. Yes the appropriate% was 36 and we didn’t need WDA as AIA was used