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I think there will be no problem. Examiner understand which question the candidate answered.
A complete disaster. Expected more CGT, IHT and groups. Missed pensions, EIS, Incorporation relief.
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Hi All, I think it was very unfair exam. Most questions are very minor points of the whole syllabus. Agree with Brian expected more on groups and iht, it is very unfair to test such minor points. I have not got idea about pension lump sum still wondering. In regards to q1 it was not fair to test two reliefs together I am confused with either of them in isolation leave alone two coming up together in exam pressured environment. I was very well prepared hopefully done enough.
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Very hard
the hardest ACCA exam that I’ve ever done!
I agree with Raviyat that the questions focused too much on minor topic areas and not the usual IHT, groups, residency, etc. Very disappointingI was expecting something on groups, cyb and residency.
Didn’t get much on any of these.
Exam was ok but difficult to judge if we have written enoughI hate this exam, I thought I was prepared maybe not in 100% but I can agree only some points were tested in detail.. all about reliefs.. almost nothing about VAT, loss distributions, residency status and so on.. I think I didn’t pass..
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I wasnt sure about the rollover relief on intangible assets in q 3 I think, also no idea about lump sum pension in 5 but it wasnt for many marks.
Luckily, I revised EIS and SEIS but not sure I wrote enough for 18 marks… did anyone else think 18 marks is too much for this question? Or did I miss something?
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Found exam ok…just hope I did enough to pass. Thankfully the bits I was comfortable with came up. I was hoping for full questions on iht and the remittance basis though.
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@haadia said:
Luckily, I revised EIS and SEIS but not sure I wrote enough for 18 marks… did anyone else think 18 marks is too much for this question? Or
I thought 18 marks was a lot too and just hope I wrote enough on EIS and SEIS…. Maybe they will be generous for the knowledge on them and how it affected the client. ?
very time consuming exam! Not sure if I got the any marks close to 18 marks for the first part on EIS and SEIS were there calculations expected on these reliefs? I hope I did enough to pass.
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It was my second resist and I my chances to get about 40 marks. Having this in mind would you recommend carry on studying for March resist? Does any one remember what question 4 was about as I think I missed one question((. Agree with your opinion that the exam was hard because the wanted not just theory but application to the question and it was disaster.
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@galinam said:
It was my second resist and I my chances to get about 40 marks. Having this in mind would you recommend carry on studying for March resist? Does any one remember what question 4 was about as I think I missed one question((. Agree with your opinion that the exam was hard because the wanted not just theory but application to the question and it was disaster.I would wait for results. A month is enough to revise anyway (I think) .
A lovely paper, if you have revised then hey very straightforward, however it was in fact extremely time pressured, no time to really get depth to any answer, this is a shame, as as the paper demands this to achive real knowledge and not the usual copying textbook stuff
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Thank you Haadia. About ‘a lovely paper’ do not agree))
I thought I was prepared. I don’t spot study for ACCA, I tried to cover everything as much as I possibly could, but for this paper I was wrong! Turned out, I did not remember disincorp relief, I did not remember close company’s definition and force what I know through to ruin it (thought in Q1 part (b) where they hint about the employment benefit cost for the car was a red-herring), I did not revise pension enough to do Q5 but could not do Q4 either! I’m quite messed up and I know I am going back to the hall in March 🙁 Feel like this paper test a lot of specific nitty gritty areas than the general bigger picture.
Did any one think q1 company car was a close company and therefore treated as a dividend. Grossed up, put in her income tax comp and then given a 10% tax credit. No class 1a NIC?
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It was correct way to do
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@duffielda52 said:
Did any one think q1 company car was a close company and therefore treated as a dividend. Grossed up, put in her income tax comp and then given a 10% tax credit. No class 1a NIC?yes, did the same. No impact on company just dividend paid out
The pensions question created a brain block at first then it suddenly clicked! The lifetime allowance is £1250000. She invested £1550000 in total. 25% can be withdrawn (of the 1250000) tax free i.e £312500. The excess of the lifetime allowance will incur a charge of 55% tax so only 45% will be received i.e (300000 x 45% = £135000) The sum is £447500.
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Paperstone, I felt exactly the same – tried to squeeze out of my confused brain at least something thinking that I can not be so stupid ( have got 47 markets last time) ?
Of course!!! This got me puzzled but I did not work it out. Did you get an AA to be included in the income tax of 30k?
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