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What was the 2nd part of the question of section C related to the terminal loss of the company outtro. First question was 9 marks which was i guess Terminal loss and the other 6 mark was which question?
Unless I’m mistaken the question was about the corporation tax calculation for the second company incorporated in Sep’20 – 31 Mar’21?
Did anyone have a question on what earnings NIC is calculated on? Did you include the food vouchers benefit?
I have some questions.
On the small gift exemption question of 200 and 10000 to the granddaughter.What was the answer ? 1500 or 1700.
On the VAT question on the hire of one stuff. Were we to calculate for 4 years only. ?
What was the answer of this question?
imported goods from an overseas
Supplier situated outside the EU at a cost of £8,000
usive of VAT).That’s what I chose as well, 1,700.
iamar wrote:Iht i wrote answer as 1,700. Small gift exemption won’t apply i beleive
yes, 1700 and 4 years, do you remember the question about how many months exemptions are for 62 months living with the parents I think?
It’s 36 months- 3 years for any reason rule.
Florind wrote:yes, 1700 and 4 years, do you remember the question about how many months exemptions are for 62 months living with the parents I think?
I included the supermarket vouchers and the car benefit. Supermarket vouchers are cash vouchers.
Florind wrote:yes, i think i included only the cash vouchers
Who got The Who will benefit from early VAT registration? What was the answer ?
Who also got the flat rate % question. I chose 20% and 20%. Seems that’s the correct answer.
agboolakenny84 wrote:Who got The Who will benefit from early VAT registration? What was the answer ?
Yes, 36 i chose too. I chose also 20% and 20$. Isnt NIC only on a cash basis? its very trick here. I dont remember the question about who will benefit from early vat?? my calculation was that it was the same amount of vat payable as a flat rate or normal.
On the living accmd i didnt include 14k improvements ?!The question from who will benefit early from VAT was a section A question. All benefits are subject to class 1A except Car benefits.
Same here, I didn’t include the 14k improvements, I only made use of the market value.What did you choose in the Inheritance Tax question that asked whether the RNB available will affect the IHT Payable. ? I choose there will be no effect. This is a section B question.
agboolakenny84 wrote:Who got The Who will benefit from early VAT registration? What was the answer ?
agboolakenny84 wrote:The question from who will benefit early from VAT was a section A question. All benefits are subject to class 1A except Car benefits.
Same here, I didn’t include the 14k improvements, I only made use of the market value.Oh on those questions I just couldn’t concentrate, we had a couple of them. do you remember on IHT, NRB available on the death of the spouse, i selected there will be 80%*325000 of the nrb and 175000, wasn’t sure about residence nrb!
Also, who pas the IHT where they couldn’t decide who is going to pay?
overall, disappointed, i dont know how im going to motivate myself to study this again.What was the minimum number of shares in tanevim plc minh should have sold to get nil taxable gain?
Anonymous11 wrote:What was the minimum number of shares in tanevim plc minh should have sold to get nil taxable gain?
It was 11,300
Anonymous11 wrote:What was the answer of this question?
It will be reverse charged so Output VAT = 1600 & Input VAT = 1600.
Ah
There was no residence NRB as there was no main residence on the wife’s estate.The donor is the primary payer of lifetime IHT. So it was Sandeep that was to pay.
agboolakenny84 wrote:The question from who will benefit early from VAT was a section A question. All benefits are subject to class 1A except Car benefits.
Same here, I didn’t include the 14k improvements, I only made use of the market value.Anonymous11 wrote:What was the minimum number of shares in tanevim plc minh should have sold to get nil taxable gain?
Was it not 8225? 11300 is the amount of shares needed before deducting the annual exempt amount of 12300.
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