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

@accastudent1986 said:
I had a different answer for this question as I had the director’s salary as an allowable deduction from profits and also included the employer’s annual exemption for class 1 secondary of £2,000.

I agree with you. The original poster did not also gross up dividend and finally deduct the tax credit on dividend to calculate income tax payable. He also did not take into account the fact that part of the basic rate limit had been used up by the non-savings income.

@kolkleen said:
If I may ask, why is question 1 C? Seems you have quite a good understanding of F6.

Thanks, I think this paper was ok for me although I made a few silly mistakes.

For the IHT on death due dates, you just have to remember:
For deaths from Apr-Sep, Due date is 31 Apr
For deaths from Oct-Mar, add six months then take last day of month.

So 8 Dec – Add six months – 8 June – Take last day – 30 June.

Just from memory, hope this is right

@chris165 said:
Thanks, I think this paper was ok for me although I made a few silly mistakes.

For the IHT on death due dates, you just have to remember:
For deaths from Apr-Sep, Due date is 31 Apr
For deaths from Oct-Mar, add six months then take last day of month.

So 8 Dec – Add six months – 8 June – Take last day – 30 June.

Just from memory, hope this is right

I get that part but I expect that it’s the trustees that will pay the death tax and not the personal representatives. Its a CLT not a death estate.

Also on the capital gains question, the rule says losses must be used as soon as possible so I still think it should be 3800. Just my thought though as BPP didn’t even write so much about the rules for capital losses. Just that the brought forward loss can only relieved so as to preserve the annual exempt amount.

Shouldnt the trustees being paying it? The personal reps only deal with the death estate. That would mean 1 a is correct?