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Hi all,
Just wondered which P6 topic you find the hardest, personally group company relief I find tricky and the multiple gifting of assets when combined with IHT and residency ouch !
CGT IS BIT CONFUSING TOPIC AS TAXEDED TWICE IN CGT AND AS CHARGIBLE GAIN IN PCTCT
CGT reliefs are do -able as long as you split them out, they are a great way to reduce or defer tax especially entrepreneurs relief.
Group’s are pain have to admit
groups are doable i think if you write out the whole group structure and categorise which are associates, gains, consortia or 75% groups.
the reliefs for cgt are too many. its very confusing sometimes.I like Group Reliefs,
I find that CGT reliefs and rules such as for Entrapreneurs Relief to apply on some assets and not others to be pain.
I also don’t really like some aspects of VAT and some aspects of Purchase of own shares.
But what really gets on my nerves is how every question is different, like in the exam although we probably can do it, we are put off by the wording and don’t know how to approach it.
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