BTC Workbook answers - ch 3 - q 3.4 and 3.5
Ben C
Registered Posts: 3 New contributor 🐸
Hello,
I cant seem to find my answers for the BTC workbook exercises. Can anyone tell me the answers to questions 3.4 and 3.5, it is so frustrating not being able to check them.
Thanks:confused1:
I cant seem to find my answers for the BTC workbook exercises. Can anyone tell me the answers to questions 3.4 and 3.5, it is so frustrating not being able to check them.
Thanks:confused1:
0
Comments
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short CAPS
In particular i have one query. When dealing with a short CAP say 10 months, you would still multiply the IBA and WDA by 10/12, is that correct?
Much like you would if you had a 16 month CAP where you would have a full 12 month IBA and WDA for CAP 1 and then 4/12 for the IBA and WDA for the second CAP. Is this also correct?
Thanks0 -
i am on the same questions 3.5! Let me know if you find out the answer thanks nina0
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Yes you're right, you should time apportion the WDA and IBA for the short CAP.
Sorry but the answers are too long for me type in but I coud fax them if you send me a fax no by PM. (Not lazy honest just busy revising!) Alternativley I could just give you bottom line but not the workings.
Good luck Tuesday!!0 -
hiya, just the bottom line would be fine cheers!
and if its no trouble could you also give me the bottom line for 7.4 and 7.5 in BTC? cheers0 -
Sorry Ben I've only just seen your post, I can give you the bottom line answers no problem but I'm afraid I'm at work and the answers are, yes you've guessed it, at home!
If it's not too late I'll post them when I get home, sometime after 5pm.
Good luck for tomorrow.0 -
hi,
if anyone needs the answers to the BTC book or practice papers, then pm me your email address and i will send them to you...
regards0 -
Ben if you haven't already got them here are the answers you required:
3.4 Year End 31.12.07 CA £20,000 and IBA £8000 Trading Income ££356,000
3 mths to 31.3.08 CA £15,375 and IBA £2000 Trading Income £78,625
3.5 Trading Income Assessment £252,291
7.4 07/08 Alice £46,800, Bob £45,600, Colin £7650
08/09 Alice £48,600, Bob £43,200, Colin £16,200
7.5 Adjusted Profits £59,400
Trading Income Asessment £15,800
Class 4 NI £846
Tax Return 4.4 31.11.07
Basis period 1.1.07 - 31.12.07
4.7 £19800
4.9 £4000
4.10 £4000
4.13 £15,800
4.20 £15,800
4.22 £15,8000 -
Good luck to everyone going BTC tomorrow, by the sounds of the PEV exam today were gona need it!!!0
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