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And I think people are missing something here. It is very specifically said in the syllabus that every paper WILL have ATLEAST 10 marks for VAT and it could be as much as 15 marks. The partnership may have been a VAT registered one but the allocation of VAT wasnt actually more than 15. The books also clearly said that there could be an entire question on self assessment.
Q1 is supposed to be an income tax question which CAN have VAT, self assessment and capital gains as well.
Same thing goes for question 2 but that it will be on companies but could have other things as well.
Q3 is supposed to be capital gains and thats what it was.
And then it is clearly said that Q4 and 5 could be from anything in the syllabus.Did you people even see the november 2009 paper? I skimped through it on the last day and found it rather strange as well. I think it’s a good point that this is professional qualification, you have to intelligently plan your study and the examiner always has the right to play within the set boundaries he has otherwise if it gets too predictable then what’s the test?
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ya rite
same in d f4
like ppl say dat the question dat has come in d last attempt never gets repeatedbut a/cc to me the examiner is not liable to any any kind of justification even if he repeats the whole ppr that came in d last attempt
and dats really a bogus reason dat ppr was out..
its only out of ur expectations ..
so y not expect more.?- Topics: 0
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The paper was OK, but harder than the previous. Unexpectedly too much of VAT and selfassestment.
Business rates I believe are like water and council tax or similar charges to business (since the property was office), so have to be deducted from the rent as well for wear and tear allowance computation (correct me if I am wrong).
Anybody knows what the correct loss reliefs should have been?
Any ideas on the property damaged by fire base cost? (I disregarded the insurance proceeds as all were reinvested and added the difference of extra money invested of 5,000 to the original cost.)
Also calculated the partnership’s profits as 80,000 split 60,000 and 20,000 between partners.Hope for 60-70 marks fingers crossed. Felt prepared for like 85-90 marks before I saw the exam paper. What had the examiner thought? Good luck to all.
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2 unfair things in todays paper;
no question on income tax computation & too much of thory !!!
just hoping for 50 %- Topics: 0
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Base cost of property damaged in fire was:
Cost (I forgot the exact figure)
Add: Repairing cost (which was 41000)
XXXXX
Less: (Insurance proceeds) (which was 36000)
New base cost of building XXXXX(Correct me if i am wrong)
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Hey guys stay positive.It dooable.Look to the future
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Really upset with the exam … Very tricky exam ….
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To be honest with you guys F6 paper was OK
Q5: yr 1 yr2
PCTCT 1,200,000 1,400,000
FII 200,000 350,0000 (I am not quite sure about yr 2 but “Profits” totalling to 1,750,000)
In Addition, it’s got one associate.
WHAT CAN BE EASY than THAT?
10 marks.. I have done for 7 mins.- Topics: 0
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Question paper is challenging and it covers the whole topic but main problem i feel is question are ellobrate and 3 hours is not enough for that question paper.
the person who took the question asked the best question but he allocated the time is not fair … we sutudent are in fundamental level and testing us like doing advance level … i am dispointed about the time given ……..– The paper as a whole had too many sub questions that were irrelevant to each other, and therefore required a lot of time to read. At least 35% of the paper was theory. For one question it went from from A-E and then some of those questions were split further i, ii, iii
– Question 1 was too lengthy and took me over an hour, they tested us on capital allowances, input and output VAT, flat rate scheme, why individuals are considered UK residents and subject to tax, partnerships, tax adjusted trading profit and more and only awarded 30 marks!!!!!!!!!!!
If I had an extra 2 hours on the paper I would possibly consider the paper as being fair. There was just too much to do in 3 hours and no time to make/check errors or even think!! No human can read that paper in 15 minutes, there was too much theory and sub questions. Too frustrated and de-motivated to focus on my next exam now as I had studied a lot of F6 and I feel like the last 3 months has been a big waste of time, money and effort!
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Really upset with that exam. I found the first question really time consuming. What the hell was up with all those motor cars. Alot of theory compared to previous exams i thought. I practised the whole revision kit and felt really confident for the exam. December 2010 exam here i come…
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Business rates are effectively Council Tax for businesses or thats what i treated it as anyway!
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i think if u practiced past exams it was to your disadvantage ( including me)
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Guys, Paper was thought – i’m not sure if i score 50….but to be perfectly honest…nothing out of syllabus, nothing out of subject…we’ve all freaked out because all the questions were set in some kind of odd way…if we wouldn’t be so focused on the repetitive questions from the previous years we would score well… but we were all expecting q1 to be on personal income of a common guy who has got some extra bik, q2 to be about pctct (with a long adjustment profit calc), q3 on sole trader who has sold a house and some old jewelery/clocks/paintings….and q4-5 – something you can cope with but without a stress because you have scored enough to pass.
Life is brutal but no one ever said the questions will be similar.
Everything was within a scope of a subject.
To make all you more happy:
1. I have deducted business rates because i was sure these are similar to water/council etc, but i forgot to deduct them from w&t allowance
2. Now you can laugh – in some kind of blackout i have added vat listed in q2 to adjusted trading profit (However i know you shouldn’t be taxed twice on the same thing!!!!)
3. I have calculated flat vat rate on net.
But:
1. I have allocated trading loss correctly (i hope!)
2. I’ve calculated profit assessed on each partner correctly, taking salary, and other things on account.
3. I’ve done q5…hopefully for max
All these bits and pieces can total to our 50…Be good, be positive!!!!!
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difficult paper 🙁
I agree with paul 21 with the word “malicious”.I finally understood tax with Open Tuition, hats off! Excellent!This is my third or fouth sitting.Unfortunately I could not apply much of it to the exams. I have three other papers to write. Thanks examiner for demotivating me and my peers from doing ACCA ever again! On top of the our exam centre was located in the worst place with ppl mowing lawn for almost the 3 hours. This is in Embacadere in Trinidad.
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the paper really was not bad just requires you to know all areas of the syllabus.
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Question five had me saying “giggity” all though the end.. And NOT in a good way!
I think that paper was horrible. Oh well, moving on to law tomorrow!
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to zicca007
well i dont think business rate were to be incorporated in W&T allowance..
because in theory you deduct charges and services that would normally be borne by a tenant but are, in fact, borne by the taxpayer (for example, council tax, water and sewerage rates etc).
and in the question given to us the the co. itself paid for it i.e not borne by the tenant so they were not to be deducted
I took this theory from here : https://www.hmrc.gov.uk/manuals/pimmanual/PIM3200.htm- Topics: 0
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This was my first time sitting an ACCA Exam and the only thing i could say to myself was ‘Welcome to ACCA’!!!!!!!!.
What a paper it was, i felt so confident going in, but as soon as i saw the paper i was like WTH!!!!!!.
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did u guys take the rent for the 3rd office building in the second question? Also what about advertising did you take that as well for 2009/10? otherwise was more theory than I thought but I think the time and energy I dedicated to this has gone waste, specially the motor cars allowances took a long time….
I didn’t think that the paper was too bad but I went in only having watched the revision lectures and with my past knowledge of self assessment and having done 1 corporation tax return.
So I may be totally wrong but I question the guys that said there was no personal income tax calculations.
Q1 involved a partnership, aren’t partnerships just two personal income tax calculations together?- Topics: 0
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I rather think the paper was within reach with respect to the concepts examined! The issue actually is the very lengthy nature of questions 1 & 2.
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After weeks of practicing every question in the exam kit none of the questions resemebled any of the past exams questions. Why was there a 15 mark question on administration regarding fines and penalites for not disclosing capital gains? The captail gains question was one of the toughest ever all that indexation….hope I get 50% because I don’t think I could face sitting the exam again!!!!
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