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They were all owned by Cacao..so doesnt tht make them related? We have to spread the 50000 across..all of them right?
@rosica said:
Yes I did that question and I did the calculation for the capital gain on the incorporation using Incorporation relief and ER and calculation the value of the shares as a part consideration for the sale of the business.Thanks for the feedback. This was an easy 8 mark part of the question, but I just could not arrive at the cost. I know I would use Entre relief and incorporation relief, but I just could not go on without this vital information.
I still do not understand how you calculate it. I guess I will see how it is done when the answer is published.
Did anybody do the question with the individual going to work for the same company in a different city?
Did you find either option resulted in a loss of money for him?
Which option did you find was most beneficial?
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the paper was hard,……….having to keep reading the two emails in the qn and then answer was time consuming……………………………i think the examiner was abit mean
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I think they make tz paper hard and confused purposely. They don’t want many people to get affiliated. Overall not very happy coz I supposed I prepared well tz tyme. Anyway let see da result . It’s not da ending of life.
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Re Travel to Brum/Manchester Question
I made it that both options were beneficial (rather than being worse off) but that the use of his own car option was best. Made a point about the non-cash effect on the depreciation of his car being a consideration too.
I’m curious that you found one option would make him worse off. Perhaps I missed something in the Question…?
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Re Travel to Brum Manchester Question
i calculate the the benifit after tax for the two optins
and find that the accommodation is better as for his car he paid rent to his sister and dep all this not deduted so the car cost him moreQuote:pjacres said 13 hours, 42 minutes ago:
Re Travel to Brum/Manchester QuestionI made it that both options were beneficial (rather than being worse off) but that the use of his own car option was best. Made a point about the non-cash effect on the depreciation of his car being a consideration too.
I’m curious that you found one option would make him worse off. Perhaps I missed something in the Question…?
I found the same result as others mentioned with both better off and the use of car and fuel was most beneficial.
The question through me though as it mentioned making a loss and calculating the increase in salary needed to make it beneficial.
Hi everyone, I have found a link on the ACCA website which offers an examination feedback form on specific papers. If you feel that the paper was unjust and the examiners language unnecessarily complicated please complete the form. The examination board use these feedback forms when setting marking schemes, before exam results are published. it could result in a few extra marks if the board agrees – so definitely worthwhile.
The link is noted below:
https://www.accaglobal.com/allnews/students/2010/NEWSQ2/News/3331775- Topics: 0
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Hi
I found that the option where he was given the flat resulted in a loss 🙂 I then calculated the extra salary needed… not sure if that was right though after looking at the comments!!!
what benefit costs did you have in relation to the option with the company flat?
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i did 12 marks question of IHT on the assumption as gift with reservation…how much i could gain marks on the basis of this assumption…plzz kindly commnuicate
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As far as I can remember… the yearly cost of the flat minus contributions and then an additional taxable benefit of the value of the flat (as it was over 75k)x the official interest rate
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The option of the company flat made him a loss after tax. I think i made the taxable cost to him of the flat of being about 10k but he would only take home around £9900 of extra salary after tax so he would lose about £150 a year. The extra salary of £15k was his regardless of the option chosen, maybe you missed this? I think i worked out he would need about an extra £3k of salary to make the flat break even.
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@umar219 said:
i did 12 marks question of IHT on the assumption as gift with reservation…how much i could gain marks on the basis of this assumption…plzz kindly commnuicateThere was a line specifically in the question that said that it was not a gift with reservation in the email from your manager –
“You should calculate the inheritance tax for each of the 12 possible situations on the property only,
assuming that Paprikash does not use the property after the date of the gift.” I.e. he will have no further benefit from it therefore it would not be treated as a gift with reservation. They may give you marks for mentioning it though.- Topics: 0
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@skipfulokittens said:
The option of the company flat made him a loss after tax. I think i made the taxable cost to him of the flat of being about 10k but he would only take home around £9900 of extra salary after tax so he would lose about £150 a year. The extra salary of £15k was his regardless of the option chosen, maybe you missed this? I think i worked out he would need about an extra £3k of salary to make the flat break even.Just read the question again and i didn’t add the cost of the petrol into the flat scenario so he would lose even more money as he was driving to and from Manchester every week regardless of whether he stayed with his aunt or in the co flat, oh well!
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when the lectures and notes of p6 will be available for december 2010 attempt
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Personally found the paper very tough and not fair…
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