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hi,everyone! I sat P5 in Jun and failed at very low mark.I saw the pass rate is decreasing year on year,so i am struggling if i should switch to P6 which has higher pass rate.However,my job scope is management accountant which is related to P5.Furthermore,I have NOT learnt F6 UK tax variant,which means P6 is completely new to me.Would someone give me some suggestions?Thank you!
Hi , I switched to P6 after failing P5 4 times. However, I ever did F6 and so my situation slightly differs from yours.
If you intend to take P6, that means you are starting everything from zero since you don’t have any basic tax knowledge from F6. The process of learning P6 could be much more tougher than doing P5 which has relevance to your profession.
P5 has the lowest pass rates nowadays and I am not sure how many attempts you have made for P5. The low pass rates could have frightened you and made you lose sleep.
P5 has a very broad topic and sometimes I ended up wondering what am I learning in P5 as I found this paper kind of ‘ messy ‘ .
I made the decision to switch to P6 which was more structured and I knew what I needed to learn for me to pass the exams. Thank God, I finally made it and now an affiliate.
If you are more comfortable with P5 , then stick with it. I guess the answer is in your heart.
Thanks n congrats,tyc7700.actually P5 was my first attempt in Jun.i am frightened by the pass rate and my pity study buddy failed three times.on the other hand,i am concerned that switching to P6 means tons of memorizing material and practices to me.i would like to read throught P6 textbook and then decide which one i will take in Dec.
Just to add a spanner to the works to this thread –
I sat P6(UK) in June and failed – and I work in taxation!
The P6 exam (in my opinion) is very, very hard, and tends to focus more on advising and planning taxation as opposed to the F6 level “number crunching” calculations.
You have to know the tax rules (in the syllabus) inside out.
I only have one exam left to do so I have made the decision and just switched to P5 for December and although I have only done at present about 10hrs of study on P5, I am finding it a lot less stressful than P6, however, I only have one exam to concentrate on now. In the past I have always sat 2….
Best of luck for whichever route you decide on….
Marky
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