Business Tax Exam.

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  • Maybes
    Maybes Registered Posts: 8 New contributor 🐸
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    Yeah I got the same figure as you Lauren for the cost of the offices ...good times :001_tongue:

    OR

    We could both be wrong :thumbdown::001_unsure:
  • >Michaela<
    >Michaela< Registered Posts: 37 Regular contributor ⭐
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    I forgot about indexation,taper,personal allowance,basically the lot!
  • tracy.b
    tracy.b Registered Posts: 3 New contributor 🐸
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    popcornlpw wrote: »
    I think you r not totaly wrong but it will take you some mark..as you still cary the same figures to the next task

    I thought that dividends received should be deducted from net profit. It what a book says.
    Then you add them back (grossed up) to PCTCT.
  • popcornlpw
    popcornlpw Registered Posts: 30 Regular contributor ⭐
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    tracy.b wrote: »
    I thought that dividends received should be deducted from net profit. It what a book says.
    Then you add them back (grossed up) to PCTCT.
    I think this time the dividends have been received separate
    they did not add to the net profit....
  • Cortez
    Cortez Registered Posts: 76 Regular contributor ⭐
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    jilbo wrote: »
    Yeah I got the same figure £18750, but forgot the annual exempt amount

    Same figure as me, and I also forgot the exempt amount ...

    What rate do they pay tax on the gain? I completely blanked on how tax is paid on it and just said it was paid at 20% :confused1:
  • richardw
    richardw Registered Posts: 108 Dedicated contributor 🦉
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    I didnt think much of that exam
    part 2 seemed to be a partial rehash of part 1

    where was the rest of the syllabus?
    eg: losses
    chattels
    shares
    ethics & admin
    payment dates

    & what was with that list of expenses in part 2?
    no dates at all, so i assumes the party & gifts were in december
  • sebastianforbes
    sebastianforbes Registered Posts: 172 Dedicated contributor 🦉
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    i agree... too much wasted on repetive points ie. split reporting periods !!!

    if you get one wrong, natural to assume that you'll get the other wrong as well :-(
  • sebastianforbes
    sebastianforbes Registered Posts: 172 Dedicated contributor 🦉
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    and too many questions involving IBA !!!
  • umerali2003
    umerali2003 Registered Posts: 400 Dedicated contributor 🦉
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    Well The Paper Was A Real Cheaky 1

    I Have Minused The Salaries Which I Think Was Wrong Wat Convinced Me 2 Do Dat Was That Line Which Was Saying The Remainder Of The Profit So I Hope So I Wont Get Penalized Hard 4 Dat May Be Get Penalized Once Finger Crossed !!!!!!!!! Apart From That Section 1 Was Orite I Think

    Section 2 I Allowed Political Donation Which Was Again A 1 Mark Mistake In My View But In The Corporation Tax Payable I Messed Up A Bit But Wat Ever I Did It Was Making Some Kind Of Sense 2 Me And My Figures And Reasons Were Quite Backing Them Up

    So Wat U Lots Think Do I Have Chance That I Will Get Through

    Your Reply Will Be Highly Appreciated

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