PTC - June 2005 Past paper

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Hiya.. Hope someone can help..
In the June 2005 paper task 2.5B it asks for the total capital gains tax liability. I've got the answer of 7,600 but does nayone know where they get the 20% from??
Having a bad 5 minutes..

:oops:

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PTC - June 2005 Past paper

    I haven't got the June 05 paper, but one possibility might be is that your answers have not been updated to take into account the 05/06 rates? Really dont know without having the paper.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PTC - June 2005 Past paper

    Have they used all of their 22% rate tax from employment etc income? If not then capital gains would be charged at the CGT middle rate of 20%
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PTC - June 2005 Past paper

    Thank you for your help..
    I had completely forgotten the breakdown percentages for capital gains..

    Tomorrow is going to be a nightmare..

    Thanks again!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PTC - June 2005 Past paper

    Good luck for today, hope it goes well for everyone.
    Jackie

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