Forums › ACCA Forums › ACCA TX Taxation Forums › *** F6 March 2016 Exam was.. Instant Poll and comments ***
- This topic has 54 replies, 22 voices, and was last updated 8 years ago by brianthomas.
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- March 10, 2016 at 10:00 am #305141March 10, 2016 at 3:31 pm #305289
I found this paper to be not too bad but i ran out of time and spent far too long on 15mark questions.
March 10, 2016 at 4:04 pm #30530115 mark! What 15 mark Q’s? I thought 20 + 20 + 25+ 35
March 10, 2016 at 4:25 pm #305324There are 2 x 15 marks questions.
One was Patience Income tax computation, and the one was the Ltd company, and the calculation of the corporation tax for three fiscal years.March 10, 2016 at 4:31 pm #305327what was the correct treatment for the pension income?
March 10, 2016 at 5:02 pm #305336Anyone on Mcq’s? if u remenber your ans plz share.
March 10, 2016 at 5:03 pm #305337What was the ans to qns no 4 can some pls post if they remember what the question was about
March 10, 2016 at 5:06 pm #305338Hello!
I do remember a few Mcqs.March 10, 2016 at 5:06 pm #305339loads of Cs and only 2 As
March 10, 2016 at 5:15 pm #305348I remember some!
1- Born in 1936, Taxable income of £120000?
2- NIC of someone. Salary 60,000 car benefit 3000?
3- Allowable gift? Voucher, Pen, Food hamper?
4- Private principal residence exemption?
5- Tax evasion/avoidance?
6- Not Revenue tax? It was inheretance tax.
7- market value of shares. CGT with recorded bargains?
8- Interest exempt accounts? New individual savings account etc
9- Corporation tax average rate? 21, 21.5??
10- VAT flat rate?Brain not working anymore. Time to sleep
March 10, 2016 at 5:18 pm #305350Q1. Inheritance tax. What was the IHT as a result of death of wiyona?
How was the treatment of part b?March 10, 2016 at 5:40 pm #305357as result of her death iht would be 40% of (1,800,000-325,000)
her husband NRB cannot be considered as he died more than 7 yrs ago
Can yuh pls let me know
WHAT QNS WAS THERE IN SECTION B APART FROM THESE 31.IHT
2.VAT
3.CHRGEABLE GAIN AND GIST RELIEF CALCULTION
4.?????????March 10, 2016 at 5:41 pm #305358WHAT QNS WAS THERE IN SECTION B APART FROM THESE 3
1.IHT
2.VAT
3.CHRGEABLE GAIN AND GIST RELIEF CALCULTION
4.?????????March 10, 2016 at 5:44 pm #305361@opentuition_team said:
<h3>Please vote in our Instant Polls about the F6 March 2016 Exam.</h3>
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Post your comments about F6 exam below (after 5pm UK time)
March 10, 2016 at 5:49 pm #305362@shyamal said:
WHAT QNS WAS THERE IN SECTION B APART FROM THESE 31.IHT
2.VAT
3.CHRGEABLE GAIN AND GIST RELIEF CALCULTION
4.?????????March 10, 2016 at 5:59 pm #305366@shyamal said:
as result of her death iht would be 40% of (1,800,000-325,000)her husband NRB cannot be considered as he died more than 7 yrs ago
Erm… I don’t think I’ve read anything about NRB transfer having any sort of 7 year limitation?
The only limitation I know of is that on the death of the second spouse, there is a 2 year limit to make a claim to transfer the NRB remaining of the first spouse that died.
So the answer SHOULD have included the husbands NRB.
March 10, 2016 at 6:07 pm #305369very true can yuh please tell me
WHAT QNS WAS THERE IN SECTION B APART FROM THESE 3
1.IHT
2.VAT
3.CHRGEABLE GAIN AND GIST RELIEF CALCULTION
4.?????????March 10, 2016 at 6:12 pm #305371thnx christine you are correct about the NRB I hope i dont get totally penalised about it
as my statement in part b of this question will be affected too
did yuh have to deduct the NRB 325000 from pet of 800,000 as well
March 10, 2016 at 7:42 pm #305388For the chargeable gains there was:
The nil cost/nil gain spouse transfer of the house.
The shares on gift relief limited by the fraction business assets/chargeable assets.
The vase, 5/3 chattel rule.
The disposal of the land, with the fraction (a/a+b)* original cost, to calculate the cost of the part soldMarch 10, 2016 at 7:44 pm #305389Being 100% business use, I deducted it as an expense when calculating the Income tax as a sole trader, but I am not too sure now if that’s what I had to do! lol
March 10, 2016 at 7:46 pm #305391@zohaib03 said:
what was the correct treatment for the pension income?Well, I am not too sure but I believe pension income, is still taxable for Income tax, but there aren’t any NICS deducted from that Income
March 10, 2016 at 7:48 pm #305392What did you do with respect of the pension contributions??? The amount was above the limit and I added the excess to the Income computation, did anybody do that?
March 10, 2016 at 8:19 pm #305397@ehsanshah said:
Anyone on Mcq’s? if u remenber your ans plz share.My MCQ’s were:
C
C
A
D
B
C
C
D
C
C
A
A
D
A
B
Not sure if they are correct. Would like to compare if anyone remembers there’s.
ThanksMarch 10, 2016 at 8:28 pm #305400can some one tell how to calculate the average rate of tax payable if income of 200000(something) iin the mcqs :S
March 10, 2016 at 8:40 pm #305403 - AuthorPosts
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