PTC - prinicipal private residences
Options
Comments
-
well the ppr turned up and i messed it blame that tutor of aat who told u that it wont come up
u sinked the whole ship mate and in section 1 i made 1 blunder didnt deduct personal allwoance these r the only mistakes i made i hope so wont get penalized hard 4 these 2 things
i am almost in state of shock reply my post plz and let me know if i still gota chance 2 pass
your opinions will be highly appreciated in advance0 -
HI umerali2003
You seriously need to tell the AAT who your tutor is and what college you study at. Tell them what your tutor said about PPR not be assessable. I think you have good case for an extenuating circumstance.
I was lucky because I new all about PPR but you have, in my opinion, been disadvantaged by your tutor.
TELL THE AAT. It is worth a try.
Good luck
Speegs0 -
GUTTIED !!!!!!!!!!!!!! our group is devistated abot the ppr0
-
I really feel for you, that was not fair what your tutor told you!!!0
-
we were talking about it after the exam and a few talked about complaining and what we should do. The trouble is our tutor is really nice and you worry if you complain what would happen to them.0
-
I understand what you mean but the end of the day when you say "he is really nice" he should have taught PPR to you whether it was in the exam paper or not!! That's how I see it anyway!!0
-
What did everyone gets for benefits? I forgot the last 36 months were exempt. And we never learnt about what to do with redundancy, i gave it a go though. What did people get for that?0
-
my paper was an inch thick by the time i had put rundancy in / taken it out 3 times. we were never tought anything about redundancy either!!! finally left it out of calculation. other benefits i got were the flat the van and the loan, i left out the mileage. Got it all horribly wrong
:( 0 -
We hadnt been told what to do if the mileage allowance was less than 40p - so I just put in 2100, the loan I guessed ( I pro rated the difference between the 6.25% interest and the rate they paid - think its was 3%) - that came to about 133 (probably got that wrong). I didnt include the van because it was wholly used for the business, and with the accommodation I did 175000 (I think) - 75000 x 6.25% apportioned by 8/12, and then added the annual value by 8/12. I know I got the pension bit totally wrong - forgot to take it off gross, instead I added it to the basic rate band and for his self employment bit - I guessed - just said the pension provider would reclaim the tax!0
-
i did same for the loan and got 133, apportioned the accomodation and annual value by 7/12 though!GoldenRetreiver wrote: »We hadnt been told what to do if the mileage allowance was less than 40p - so I just put in 2100, the loan I guessed ( I pro rated the difference between the 6.25% interest and the rate they paid - think its was 3%) - that came to about 133 (probably got that wrong). I didnt include the van because it was wholly used for the business, and with the accommodation I did 175000 (I think) - 75000 x 6.25% apportioned by 8/12, and then added the annual value by 8/12. I know I got the pension bit totally wrong - forgot to take it off gross, instead I added it to the basic rate band and for his self employment bit - I guessed - just said the pension provider would reclaim the tax!0 -
I too got 133 or 132, I also did 7/12
April
May
June
July
Aug
Sept
Oct
= 7 months?
Did you pro rate the 6250 by 7/12, and then add the annual value (3000)? pro rated?0 -
yes i did yellow harley, thank god someone is in agreement with at least a couple of things i did
0 -
Altogether I think my benefits were:
LOAN: 133
ACCOMMODATION:
6.25% x (100000- 75000) = 6250 x7/12 = 3646
plus:
3000 x 7/12 = 1750
3646 + 1750 + 133 = 5529
In the end i treated redundancy as exempt. Hope everything is OK for me in the end.0 -
Sorry I did do 7 months - my mind is just such a haze0
-
i had exactly the same however i included the mileage difference and deducted the £300 from your total. the redundacy is exempt as it is below the 30,000 threshold i think?yellow_harley wrote: »Altogether I think my benefits were:
LOAN: 133
ACCOMMODATION:
6.25% x (100000- 75000) = 6250 x7/12 = 3646
plus:
3000 x 7/12 = 1750
3646 + 1750 + 133 = 5529
In the end i treated redundancy as exempt. Hope everything is OK for me in the end.0 -
damn i used 5% for the loan and house
i been going through the osbourne book soo much i forgot to look at the real rate :mad2:0 -
Hi
I got the same for the accommodation, and also deducted £300 for the mileage and exempted the redundancy.
However, I think I got a different figure for the loan. I did (7000 + 0)/2 * 3.25% = £114. Looks like you've all used an alternative method. Have I done this wrong...?0 -
have not come across that calculation before always been taught that the calc is (LOAN AMOUNT X(OFFICIAL RATE- ACTUAL LOAN RATE).Hi
I got the same for the accommodation, and also deducted £300 for the mileage and exempted the redundancy.
However, I think I got a different figure for the loan. I did (7000 + 0)/2 * 3.25% = £114. Looks like you've all used an alternative method. Have I done this wrong...?0 -
have not come across that calculation before always been taught that the calc is (LOAN AMOUNT X(OFFICIAL RATE- ACTUAL LOAN RATE).
Yes, me too, but the thing is how to split the loan amount when it changes throughout the year (as this one does when he pays it off)? I was taught to take the average of the start-of-year and end-of-year (i.e. £7000 and £0).0 -
that is valid point and i to was taught that method but if he has had the loan for the full period as he reaps at the end of the period he has received the full benefit????0
-
Yeah, I suppose. Cheers Kyle - think the best thing is just to forget about it and cross fingers!0
-
havent seen any fing like redudency before mate wat aat is doing they dont want us 2 pass i think i am quite heavely depending on 3 main factors 2 pass dat exam
firstly dat i should my workings
secondly followed the principle even with the wrong figures
3rdly completed the whole paper
fingers crossed mate hope so aat will consider those factors
my tutor did not said dat it is out of aat syllbus i have seen the post here a day ago so didnt bother to revise keepin dat in mind dat it is not in syllbus who ever posted dat nearly sinked us all0 -
your figures look quite simmilar 2 mine but again mate that was still one hell of a tough paper hope so aat will consider i keep on askin dat bcoz i knew 2 score 70 percent in this type of paper is almost a mission immpossibleyellow_harley wrote: »Altogether I think my benefits were:
LOAN: 133
ACCOMMODATION:
6.25% x (100000- 75000) = 6250 x7/12 = 3646
plus:
3000 x 7/12 = 1750
3646 + 1750 + 133 = 5529
In the end i treated redundancy as exempt. Hope everything is OK for me in the end.
i was surprised 2 see a large number of students leaving paper quite early in our centre i was finking either i am so dump or either dey all decided better 2 plane abt friday night rather then sittin here lolzz0 -
Hi Lee
We have never covered redundancy payments have we? it is not even covered in the book, so what was all that about? I of course treated it as taxable only to find out it's not. Typical.
Lee, when is our interview re project, totally forgotton.
Marilyn x0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 18.9K For AAT students
- 268 NEW! Qualifications 2022
- 147 General Qualifications 2022 discussion
- 9 AAT Level 2 Certificate in Accounting
- 44 AAT Level 3 Diploma in Accounting
- 65 AAT Level 4 Diploma in Professional Accounting
- 8.9K For accounting professionals
- 23 coronavirus (Covid-19)
- 274 VAT
- 92 Software
- 274 Tax
- 138 Bookkeeping
- 7.3K General accounting discussion
- 194 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 352 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 590 Job postings
- 17 Who can benefit from AAT?
- 36 Where can AAT take me?
- 44 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 65 AAT membership