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How did you guys find your Taxation exam? It wasn’t too bad but I’m not sure about the capital allowance calculations in section c.
it was ok.
why did they give us pension contribution figures when calculating child benefit charge? was there any relation between the two interms of getting the child benefit chargeFor NIC 1A we were given motor car, bonus and some other thing, however I went for bonus only as taxable benefit
Was hard in Section A, B, and first C.
But last two section C questions were okay and both is 15 marks each. I hope to pass with 52marks.
Let see how it works.
The Child Benefit charge is ANI adjusted same way as the personal allowance. So you reduce employment income by the gross pension contribution. If I recall the ANI was lower than 50k so there was no charge.
I think the exam was okay. Section A was a bit tricky with many multiple choices, fail one fail all.
But my comeback was with Section C. The Corp tax and income tax questions were not too challengingThe section C was quite tough especially the IHT. Does the question on additional liability on death of 418,000 (ignoring nil band rate) have taper relief component? I’ve been trying to remember…
If I can remember no? I think that question was more so checking if you knew the GCT is what the IHT death tax is based on, and then whether you took off the 18750 lifetime tax paid already at the end
Is there anything important you would like to advice to students who are preparing for the december session? (TX – UK variant) . Topics that we should focus more on for practicing?
Which chapters are important for section A and B?
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