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FOR Q5 THE DIRECTORS REMUNERATION IS AN ALLOWABLE EXPENSE. SINCE IT IS CORPORATION TAX. THE DIRECTOR IS TREATED AS AN INDIVIDUAL FOR INCOME TAX PURPOSES. THE SAME TO HIS DIVIDEND.
Question paper is up on the website can anyone atleast post correct answers of Sec A atleast
I thought for the rollover relief none of the gain was rolled over in to the base cost of the new one?
@rish21 said:
I thought for the rollover relief none of the gain was rolled over in to the base cost of the new one?hey thats what i did as well!
because sales-cost of new factory was more than the gain therefore we could not roll over
hope i am right :/
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The child benefit is 53000-50000=3000/100=30……. 0.01*1796*30=538.8
How many mark ll we be losing if instead of using Nil rat band 325000 on death instead of 390000?? any idea guys?
for question no 5 i guess all adjustment would have been the same i mean both for calculation of income tax purpose or corp tax purpose
help pllzzzz
i m afraid #rizwan your ans to Q4 is wrong. the corect option was D, not B i.e ttp @ 21%
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Well fairly set paper though the MCQ we’re confusing. Will keep fingers crossed
I think in my point of view F6 june 2015 was quite easy and everybody can pass in accordance with what he/she previously had invested his time on reading, writing and doing more calculations for example IHT and VAT I am advising you please use LSBF study manuals and their revision kit books then you can understand and then can pass the exam simple and in a funny way but using either BPP or KAPLAN will mislead your understanding of F6.
I think the question 4 is D.because AP=1620,so the corporation tax should use 1380*21%(main rate)=288.9. and question 1 is not A…..
@karnalahmed said:
Question paper is up on the website can anyone atleast post correct answers of Sec A atleastIs the question paper available somewhere ?
Accounting period spans two tax years so you have to apportion appropriately:
4/12 * 23% * 1380000 + 8/12 * 21% * 1380000
That gives B: £299000
I did not use the husband remaining NRD. I think it should be used in computation 3, when we compute the death estate.
yes, cuse it was starting trading in 2012 or something… I almost wrote max 1 year, but then I realizen that there are opening years
https://www.accaglobal.com/my/en/student/exam-support-resources/fundamentals-exams-study-resources/f6/past-exam-papers/united-kingdom.html look for june 2015 paper at thr bottom
@saajan said:
f6 mcqs.
1. C
2. D
3. B
4. D
5. B
6. B
7.C
8.C
9.C
10. D
11. C
12. B
13. C
14. A
15. DDisagree with 3,4, 13, 14
Q3 – You can’t restrict capital loss in current period but you can in future period. So I think technically you can carry forward the entire £6100 but the question is a bit unfair.
Q4 – Still pretty sure this is B £299000
Q13 – The £50000/25% restriction does not apply to trading losses so the answer is £50000 +£24000 = £74000
Q14 – I think I remember something about balancing payments if your tax bill for the previous year was less then £1000 no balancing payments are necessary so the answer will be Nil
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