What parts of BTC are you NOTstudying??

LondonMatt Registered Posts: 1,110 Beyond epic contributor 🧙‍♂️
I'm sorry, but there is far to much to learn, imo. No-one can learn all of this crap:

Sch D I proforma, exemptions (legal fees, general bad debt decreases, bank interest etc), short CAPs, private use assets
Capital Allowances proforma, WDAs, Restricted WDA, FYA %s, FYA exemptions, private use assets, balancing charges, no allowances on year of disposal
Industrial buildings allowance, second hand formula,
'Profits', FII gross up by 100/90, Upper/lower tax limits, Marginal Relief; effects on short CAPs
Capital Gains proforma, exemptions, shares, indexation allowance for shares bought but not for bonus issues, Annual exemptions, Wasting Chattels, Non-wasting chattels sold/bought for </> £6,000, restricted to 5/3 x proceeds - £6,000
Partnership profits/losses
Basis periods,overlap profits, opening year rules, closing year rules,
Loss reliefs S64, S83, S72,
1985 Pool, Indexation allowances, Taper Relief after April 98,
Badges of Trade - SOFERM, all 6 of them,
Wear and tear allowance for rent, rental losses brought forward
Tax dates; filingdates, payment dates, penalties, different if Large company, Class 4/Class 2 NICs, lower limit of 5.225, upper of 34,480, 8%, 1% :scared: :scared: :scared: :scared:

Everytime I think I'm ready, I find something else I need to know - and I've probably missed a couple of things out of this list as well!

I'm not going to study for the £6,000 limits for non-wasting chattels, dealing with partners, tax penalties and the NIC limits. Anyone think I'm okay to leave all of them? Even if they do come up I'll only miss out on a few marks, right?

Is there anything else you are not studying particularly hard for, because you think they won't come up??


  • LondonMatt
    LondonMatt Registered Posts: 1,110 Beyond epic contributor 🧙‍♂️
    Oh yeah :glare: I have the DFS exam the next day as well, so theres a whole heap of other stuff my brain is struggling to remember!!
  • cs_1988
    cs_1988 Registered Posts: 231 Dedicated contributor 🦉
    I have just gone through all the exams,

    i know what to do for 99% of the questions now. BUT ALWAYS MAKE A STUPID MISTAKE!!!!!

  • imeldabye
    imeldabye Registered Posts: 147 Dedicated contributor 🦉
    i know, it would be useful to know how many marks, say, forgetting to time-apportion a WDA value would cost you etc etc
    they don't expect 100% but it would be good to know what they do expect - I agree i think i am competent but i ALWAYS slip up on a couple of things in a paper - even if i've done it before!
  • cs_1988
    cs_1988 Registered Posts: 231 Dedicated contributor 🦉
    Got to remember though, in the exam you will triple check everything, take your time. When your revising you never do, so just relax.

  • George Tse
    George Tse Registered Posts: 241 Dedicated contributor 🦉
    yea there are loads to remmeber!

    Ok people for the BTC exams there is sometimes a returns form that you have to fill in. In this exams there is a new style tax return (SA103) form for sole traders that would be sections one in the exams. (This is what Kaplan Financial have told me)

    You only need to know the first 3 pages of the form. Below I have put the link t where u can get the form. (This is also what Kaplan Financial have told me)


    I will make a new thread on this

    Gentle Jesus
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