TX*** F6 December 2014 Exam was.. Instant Poll and comments ***

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Hi guys, how did u calculate that cost of the land ? I calculated cost of that first acres sold and then just deduct this from total cost Haa ??

Hi accaonetwo, I did same!!

Great ! Anything u wasn't sure about ? I messed up those allowances a bit...

Yes the part on property business profit about repairs??

Question 2 was a nightmare for me - defo made a mess. nuff said!

I added back as not allowable for deduction... If the building would be in the state that can be used strait then it would be allowable... hope so... also add rent received on 1/4

it was starting from the operating profit that put me out - mind went blank - couldnt remember what to do - I attempted it - but cant help thinking it just wasnt right. thankfully I attempted the rest of the paper. so maybe i have a chance of a pass - fingers crossed.

It was very tricky!! Crossing fingers as well ;)

No its not just you Tommy - they are definitely changing the way they are testing F6. Q 2 was awful for me.

How many marks was worth that 2th question 1st section ?

I attempted Q1 as it took 15 miutes of my planning time but still messed up the 2nd part of it for Edward king. then I attempted Q3, then Q5 and then Q4. which I found easy and do able. left out q2 as ran out of time. just had a little to write up the proforma. so fingers crossed and wait for the results. it was nothing like the past exam papers I have attempted. given that I only started preparing for it in last 3 weeks. I thank open tuition and Kaplan exam kit if I do scrape a pass!!

F6 is so hard today, seems candidates can make mistakes easily by small details being given in question. I did practice in P&R kit of BPP, handled with many kinds of question in there, but today question is not the same with standard, hard. Also, the quetion is long, time is limited , just did what I could. I think I will fail . :(

In question 4 ...that first section a first calculate tax liability for both companies separately using up er limit 750 000 a lower limit 150 000 ant then together as one company with upper limit 1.5 m lower limit 300000 savings were 30000tish ? Anybody else ?

Q4 Cant remember exact figures - but my first calc with the subsidiary was marginal - second calc was lower limit. and then i did the tax saving.

Q5 inherritance and pensions was not bad. Q1 i think was ok, but Q2 was worst for me. Q3 on groups im not sure and q4 i did in a hurry so it was messy. Did we have to choose an alternative or just calulate? I was running out if time. There were a lot of short answer questions, more than in the past papers.

Got the same

I did the same !

Anniebabe you are right and the paper was extremely lenghty and complicated examiner messedup everything and Examined the whole sallybus

I found Q5 ok too Roisin - Q2 :/ write off

We should choose the highest net proceeds from 3 alternatives ... gain - tax paid ...I suppose

In question 4 I have done the same, splitting the limits initially and then treating it as 1 company without splitting the limits, which gave me a tax saving of about 4k by using the second method.. How did you approach the 1st question with the partnership? Where one of the partners left half way through the year? Did you apportioned the profit and split it into 3, and then in 2 for the remaining months? Thank you

It was really different...messsed up on question 2 part a. It was for only 12 marks though, at least not 25!!!

When acca start its survey on net about exam paper f6 please tell it how worst it was its our responsibility

I think my savings were only 3000. Without subsidiary it was at lower limits for both and with subsidiary C would be marginal

For Q3 I chose alternative 2...anyone else did the same?

i think Q3 CGT was a technical one found it difficult.

Very difficult Paper given by an Examiner. I was so confused when i saw the paper. I have attempted 80% paper but don't know what i have written in the Paper. This Paper is disastrous!

Hi Accaonetwo, From what I can remeber the rent was accrued for quarter end 31 May. Doesn't that mean that 2 month should have been deducted ( April & May) rather than 1/4. How did you everyone else deducted this? Thanks

That's how I did question 1 ! Profit divided by 3 for the first 9 (I think) months,then split in half for remainder .