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Pracitse 7 Peter

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Pracitse 7 Peter

  • This topic has 2 replies, 2 voices, and was last updated 6 years ago by Elmir.
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  • Author
    Posts
  • August 25, 2016 at 11:22 am #335125
    Elmir
    Participant
    • Topics: 10
    • Replies: 15
    • ☆

    Hello. In last course note in practise question 7 Peter insurance paid for year end 31/05/2015 but we start letting on 01.06.2016 is it ok?

    August 25, 2016 at 2:37 pm #335154
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Hi Elmir and thank you for your feedback regarding the questions and pointing out some updating errors with the typing!
    Q.7 The properties were acquired on 1 June 2015 and the insurance should have stated for the year ended 31 May 2016 (ie from 1 June 2015). The letting however started from 1 July 2015 – not 1 June 2016.
    Q.24 The previous year was of course 31 March 2015 – not 2014.
    Q.37 The question asks for the chargeable gain on the disposal NOT the taxable gains for the year, hence no deduction of AEA
    Hope this helps and apologies for any confusion caused

    August 25, 2016 at 4:51 pm #335189
    Elmir
    Participant
    • Topics: 10
    • Replies: 15
    • ☆

    Thanks a lot you do great job for us

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