Forums › ACCA Forums › ACCA TX Taxation Forums › *** F6 December 2015 Exam was.. Instant Poll and comments ***
- This topic has 302 replies, 56 voices, and was last updated 8 years ago by david1988.
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- December 10, 2015 at 6:32 pm #290471
Oh I remember now…. I put the same Sarah the options were trading income, property income, dividend income and building society income. One of the answers was trading income, property income and dividend income but I was pretty sure you don’t need to file a return for dividend income? Can anyone verify?
December 10, 2015 at 6:33 pm #290473Also the mcq about losses. I use cy and then carried back i think. I remember i was able to relief the whole loss. But that just felt too simple to be right
December 10, 2015 at 6:33 pm #290475Other 2 paid net of tax. So no need to file tax return
December 10, 2015 at 6:34 pm #290476I put 1500 too for that question (5/3 x 900) thankfully none of the answers were 5/3 x 600 as I would have been unsure whether to deduct the 300 selling fees before applying the 5/3. Thanks examiners for that one!
December 10, 2015 at 6:36 pm #290477Foe the CGT mcq i used £6,900-£6,000 x5÷3. I might have read the question wrong as thought £6,900 was before deductions.
December 10, 2015 at 6:36 pm #290478I too relieved the entire loss on MCQ it felt like a trick but pretty sure it was right
December 10, 2015 at 6:36 pm #290479That sounds right Sarah
December 10, 2015 at 6:37 pm #290481Anyone else take the exam at Excel London? It was my first paper exam and I wasn’t expecting so many people! Huge room
December 10, 2015 at 6:38 pm #290482Phew
December 10, 2015 at 6:42 pm #290484Q6. I feel very worried about my answer now. I divided UL & LL by 19 not 20 that was very sneaky. some how my ttp was above the UL and im not sure why now. I did deduct the loss from the other company but not for the 4 month cap. This means i did not do a MR calculation im fearing loosing lots of marks. I really misread this question.
December 10, 2015 at 6:45 pm #290487Even if you used 19 Marginal relief would required
December 10, 2015 at 6:45 pm #290488I am also not sure if anyone else did entrepeneurs relief on the first of the two share options.
December 10, 2015 at 6:49 pm #290490Back to the Samson and Delilah question; on part B I concluded that by moving £4800 of the savings income from Samson to Delilah there would be a 15% tax saving because tax applied to income between 100k and 120k is effectively 60% where as Delilah’s additional rate of tax is 45%. 15% x £4800 = £720 saving. I didn’t have time to check this though!
December 10, 2015 at 6:49 pm #290492@tinaboy said:
Even if you used 19 Marginal relief would requiredMy ttp must have been too high but i cant remember what it was. And i thought i had taken off the group losses. But i just cant remember what happened now.
December 10, 2015 at 6:52 pm #290494@flapper84 said:
Back to the Samson and Delilah question; on part B I concluded that by moving £4800 of the savings income from Samson to Delilah there would be a 15% tax saving because tax applied to income between 100k and 120k is effectively 60% where as Delilah’s additional rate of tax is 45%. 15% x £4800 = £720 saving. I didn’t have time to check this though!All i know is i forgot to make an adjustment to PA for this.
December 10, 2015 at 6:53 pm #290497MCQs: I had… D B A D C A B A D C D D C C D. Anyone have anything similar?!
December 10, 2015 at 6:53 pm #290498Ah damn it, we really need to see those questions again. I was banking on getting at least 13/15 on MCQ because the written ones were tricky.
December 10, 2015 at 6:54 pm #290500Hie Sarah I did only one who had been with the company since 2005 and had 10% holding .i thought that criteria alone is enough to qualify
December 10, 2015 at 6:55 pm #290501@yentam said:
was the question asking about the tax saving for the both of them or just samson? I can’t rememberIf it was just sansom I think I have made the classic mistake of not reading the question properly.
December 10, 2015 at 6:58 pm #290504Gross proceeds were 7200 not 6900.
December 10, 2015 at 7:00 pm #2905052000 as gross proceeds were 7200. I.e 5/3 X 7200 etc. 6900 given in question were net proceeds, not gross proceeds.
December 10, 2015 at 7:02 pm #290507Correct.
It was Samson and his personal allowance changed (increased to 4000 from 1600) and therefore he saved tax.December 10, 2015 at 7:04 pm #290510i think I got 960
December 10, 2015 at 7:05 pm #290512Agreed
December 10, 2015 at 7:19 pm #290520@yentam said:
really bugging me the ques with the non wasting chattel. sorry to keep harping on about it but if someone is 100% sure on the answer. Is it 1500 or 2000? Thanks
Also ER is used for the 1st capital gainI need to see the question again as i think now i misread it. I used 6900 but now i am unsure i read this right
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