BTC - am I the only one who liked it?

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
I have been reading the messages posted on here, and most people found it difficult. I thought that it was a really nice one. There was nothing major on losses or "profits" or basis periods at commencement or a tax return.
Yeah there were a few odd bits, (like the legal fees re: tax appeal - allowable or not?) but other than that OK i felt.
Any views?

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:BTC - am I the only one who liked it?

    hi there dan
    yer i thought it was ok but thinbk i made some silly timing errors
    was amazed there was no tax form to complete
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:BTC - am I the only one who liked it?

    I actually liked it too, but obviously i did some small mistakes and hope will still pass it as overall I id good.

    Mistakes I made were.
    1- Allowed - Parking fine Director and legal fee re Tax appeal (was it allowable?)

    2- gave FYA and WDV on 31 Jan 2007 and worse pro rata it for car LOL 4 monoths.


    Waht was the adjusted profit for 06/07?
    I did it like
    06/07 30 september 2006====== £124650
    .......period ended jan07===== £32444
    les overlap profits===========(£25880)
    .............................. £131214

    And the rest I am did was 100% I am sure was OK.

    Jay
  • System
    System Posts: 100,534 🤖 Admin 🤖
    BTC - couple of queries?

    Did the question not throw anyone about the share disposals? As all the revision I had done gave you the number of shares held, this question just said she owned 25%!
    However it did say she disposed off them all so that was fine.
    Also the last question did anyone calculate the total profit for the tax due for the period then time apporition it due to the accounting date stradeling 31/03/07 as I did or should as I expect the profits for each period have been time apportioned upper/lower limits adjusted then PCTCT calculated?
    These are the only 2 that in hindsite I feel I would treat differntlty

    Thanks

    Jon
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:BTC - am I the only one who liked it?

    i actually enjoyed the paper :o) the last task i time apportioned the pctct - 8 months and 4 months then calculated the tax charges for each period. 8 months was 19% with marginal relief and 4 months just 19%...

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