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The 50 mark question seemed to go as well as it could have with a tricky last part regarding EIS (which is definetly did not score any marks on).
The first 25 marker went average but the last 25 marker was a nightmare.
Lets hope I did enough to get the 50% this is my last one !
Good luck to everyone else, be interested to hear how it went for others.
I feel exactly the same as you!
I completely went blank on the last question so I am hoping the other two sections will save me but EMI was not my strong point!Did anyone else get the 12 mark rollover relief Q1 question? It was about a Director called Iain who calculated his own chargeable gains, and we had to spot what was wrong with his calculations? I had nothing to answer for this
Also had multiple loss relief questions.
They were restricting the loss relief to current year only which I felt difficult to write enough aboutAlso group loss relief I said it was restricted to lower of the loss made and the profit made by the other entities
Similarly. Felt like that was the hardest exam I’ve done so hoping I can scrape a pass as it’s my last exam
I said it was incorrect because he did not reinvest all of his proceeds from the sale, thus he could only roll over a chunk and not all of the gain.
This was not easy at allI had similar questions to Dan, struggled with theory part, rollover want too bad but messed the calculations, not all proceeds were reinvested but didn’t calculate exact figures.
For vat I mentioned that sole trader needs to de- register as ltd below threshold and not worth transfering ivery.
Struggled with last question due to time mainly so couldn’t concentrateHi! DId anyone get the question with the vintage car vs Rental property? In my opinion IHT was equal on both, how did you calculate it?
I’m got the vintage car and rental property. I think the only difference was that the rental property had loss in value. Did you adjust the nrb for the life time gift that they made? I did that, but wasn’t sure if it was right.
What difference the fall in value makes for IHT paid on the PET of the property? Its taken at MV when is gifted,isnt it?
I adjusted for NRB but partially because of the previous gifts it was not fully avaible.Yes I did partial adjustment for NRB too. The fall in value is the different from the mv when gifted subtracted by mv at death. You would then take it away before calculating iht. This is what I think, I could be wrong, but that was the only difference I could spot.
Capital allowance question was hell. I just forget the treatment of EMI shares as it was discounted. Rollover relief question was fine IHT question on death estate where Main residence was two times gifted once from her husband and then to her son so only once RNRB was used as 2nd time. Job accommodation treatment I just forget it.
Overall experience was really bad as it was my last exam and I just lost it
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