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Hello,
I am really confused with the syllabus of f6 as the UK tax system is really complex and within a topic there are a lot of minor things, for example within the property income i found in the kaplan text sublease and its relief to the tenant when calculating his property business income which i couldn’t find in the OT f6 notes. Also, as a short lease consists of two parts one is its premium and other is the annual rent, the kaplan hasn’t mentioned that if a property is leased for less than 50years only than the premium will be assessed to the landlord as property income and even the trading profit deductions if a trader has paid premium for a short lease.
Can you guide me with it ? and are the OT notes complete and completely relevant to each topic as UK tax is really complex.Hi rimx, as you say the UK tax system is complex and there are many minor things! You refer to sub-leases that you read within the 906 pages of what Kaplan call their Complete Text – a very good reference book! The OT course notes run to 258 pages the majority of which is examples and practice Q’s & A’s! It is completely relevant and seeks to give you the key knowledge you need to get a good pass in the F6 exam. In respect of leases we show that for the landlord you must deal with both the rental and the premium, rather than the Kaplan text note that as you say simply focuses on the premium. We then deal with the tax position of the tenant paying the premium and using the property in their business. These are the issues you are most likely to face in the exam. The OT course notes aim to provide the student with the essential knowledge and understanding required in a learnable form to allow you to succeed in the exam – it does not attempt to be a complete text book.
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