*** F6 December 2015 Exam was.. Instant Poll and comments ***

Yes, that was the Samson & Delilah question and if all the interest went (£9,600) yo her instead of 50:50

Apologies Snell123 for the delay. The link is below. If you look at the bottom you will see the latest paper released.

https://www.accaglobal.com/uk/en/student/exam-support-resources/fundamentals-exams-study-resources/f6/past-exam-papers/united-kingdom.html

Hopefully some one will be kind enough to put up the answers which were relevant to the Dec exam ?

MCQs

D for the 1st, about Same day share rules followed by 30 after.
£2200 for the 5/3 restricted gain
£3000 odd for the NIC
What about the self assessment one – Property, Trading etc?
12mths for the loss 100%
4 payments for the CT Tax –
£3000 for marriage £3000 x2 and £1000 for marriage exemption

@dskinner83 said:
My ttp in q6 wasn’t in marginal relief either. I had it at higher rate, but with the first nine months at FY2013 rates and the rest at FY2014 rates.

@yentam said:
Q6 wasn’t in the marginal rate. It was in the main rate.

I think I got the inheritance tax correct, the capital gains ques correct, the basis of assessment correct except the overlap profits (Stupid mistake), the cash/accruals – some of it correct, but forgot to do Capital allowances. Re the Trading profit ques, I got Samson’s calcs right but for Delilah, didn’t include the chaffeur’s cost as a benefit, partnership profit was pretty simple. VAT – had to guess a few so maybe half marks, and the corporation tax – well, I got the capital allowances correct, the PBP correct, included the IA for the capital loss incorrectly, remembered to divide by 20 for the limits, and so overall, I think I got more than half marks in part B 🙂

Yeah I definitely got it as main rate especially after the upper limit was divided by 20 so the limit was 75000. Ttp was greater than this and it straddled two periods so you had to proportion for FY13 and FY14

I thought, is wrong to share the joint saving income equally since such ratio hasn’t be given in the question..

And Q3, it quite direct… Since we av gross transfer of 400k+ from previous transfer to trust. and the share to daughter, was 30000 share at 5 pounds per share. given us 150000 (Potential exempt transfer )pound. 150000K become chargeable as result of his death.
and it would be deducted from the Nil rate band of 325000.
325000-150000 = 175000
Nil rate band balance is 175000
previous gross transfer is 400k+ (i couldnt recall the precisely figure again)

Therefore , 175000 x 0%
and balancing figure at 40%

No taper relief. as less than 3 to 4 yrs .

Not sure…

@gawcram said:
It’s pen only
Other one is IHT
Marriage exemption 1000 and cyr AE 3000 last yr AE 3000 . These are deducted
Can’t remember the q

marriage exemption is £5000 isnt it??

@pauljaco said:
marriage exemption is £5000 isnt it??

Marriage Exemption depends on who it is being given to

A parent would have a £5000 exemption to their son/daughter.
A grandparent or ancestor would have £2500 exemption
A party to the marriage would also have £2500 exemption
Anyone else would have £1000 exemption

As it was Uncle iirc, it would be £1000 exemption.

Question 1 in the sample Sept/Dec 15 paper is the capital gain question from our exam. Interested to hear how you interpret the sentence about the ER and holdover relief not being available on this disposal sentence. I assumed this just related to the disposal of the Aplo shares and not the Pola ones. I applied ER to be Pola shares.

Hi Jombee, I cannot find the upload by Open Tuition that you are referring to. Can you put a link up. Many thanks.

ok

@opentuition_team said:
We posted link to Official ACCA Past exam questions – Which is a hybrid exam – parts are from September and some questions ONLY from December..

Can You post the suggested answers?

The paper was fair, except for the corporation tax question. I think I’m gonna pass this one hopefully.