BTC How did everyone get on?

gillwilsongillwilson Feels At HomePosts: 41Registered
Just wondering how everyone found this.

Not as bad as i expected - Ent Refief and part disposal of land tripped me up.

Anyone else?

Gill
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Comments

  • SammyShSammySh New Member Posts: 7Registered
    I think I may have missed part of a question. Did they ask us to calculate NIC's for the separate partners' profits? (in section 1)

    As I only remembered once I'd left that we were given the NIC's but I don't remember being asked to calculate them
  • gillwilsongillwilson Feels At Home Posts: 41Registered
    No - no NIC's at all.
  • beansprout64beansprout64 Feels At Home Posts: 29Registered
  • gillwilsongillwilson Feels At Home Posts: 41Registered
    It depends how every one else did. I am sure you will be fine.

    Have I missed something - what operating lease formula??
  • SammyShSammySh New Member Posts: 7Registered
    We just had to explain the ent relief to Emily think.

    Part disposal, threw me a bit too. I has proceeds, less cost of acq (100,000/20), less (indexation of £5000 x 0.257), less (100,000 x 150,000/(150,000+500,000)), is that what you all got?
  • SammyShSammySh New Member Posts: 7Registered
    Oh well. I better hope that the examiner is kind. Other than those parts, it seemed quite straightforward.
  • gillwilsongillwilson Feels At Home Posts: 41Registered
    I agree Sammy.

    Are you sitting any others this week. I have got PCR on Thursday.
  • SammyShSammySh New Member Posts: 7Registered
    I've got DFS tomorrow and PTC on Friday. Are these your final exams (touch wood) or do you have any other Technician units after these?
  • gillwilsongillwilson Feels At Home Posts: 41Registered
    PEV to do in December. Decided 3 would be too many.
  • SammyShSammySh New Member Posts: 7Registered
    Well judging on my performance today it probably is too many. Good luck with PCR and PEV.
  • jimmyt1988jimmyt1988 Settling In Nicely Posts: 23Registered
    I found this exam (OK), in a fashion. Made a small mistake on capital allowances, and a small mistake on partners profit, but i think i nailed most of the rest, (other than reports, never know how they went).

    Seems to be that most people that sat the exams in my centre had different things wrong but on the whole felt confident that we had done enough to pass. I'm hoping the is the general aura for us all.

    Just a reminder not to talk about answers till after 3,

    Best of luck to everyone :thumbup1:

    Now for revision ON MY 21st BIRTHDAY, for DFS tomorrow :crying:

    Jamie
  • JOEY123JOEY123 New Member Posts: 5Registered
    not what I expected....

    not what I expected at akk spent ages learning shares and also NICs so was slightly disappointed when they didn't come up. Think I messed up the apporioning between the years on the PCTC and don't think I did well in the wordy questions, memory blank :001_unsure: not sure how I will do.
  • JOEY123JOEY123 New Member Posts: 5Registered
    OMG I didn't know about the 3pm thing! I'm so sorry!
  • jimmyt1988jimmyt1988 Settling In Nicely Posts: 23Registered
    It's fine Joey, just dont mention figures i think
  • lala2009lala2009 Feels At Home Posts: 95Registered
    Aw Happy birthday Jimmy!! I feel for you having exams on your 21st! Think BTC went well! :)
  • snooopsnooop Settling In Nicely Posts: 18Registered
    Was suprised it was such a straight forward paper most people had finished by the time I left at 11.30
  • LondinaLondina Experienced Mentor Posts: 814MAAT, AAT Licensed Accountant
    increbile how come someone can finish BTC in less than 2 hour, instead in MAC with that amount of questions, you wouldn't be able to do that!
    definately something wrong with the set of questions and time!
  • JointyJointy Feels At Home Posts: 78Registered
    Hi people

    What time can we discuss the questions on BTC?
  • hanapospishanapospis Well-Known Posts: 111Registered
    I think it is 3pm
  • ^Joe^Joe Feels At Home Posts: 35Registered
    I think it went quite well, the final question was large, but ok.

    best of luck to everyone.

    I finished in an hour and a quarter.
  • Crazy ChickCrazy Chick Feels At Home Posts: 38Registered
    Hi All

    I found BTC ok. Was suprised no tax forms to fill in or shares disposal...i had really practiced them...bit annoyed with myself for not time apportioning the bands on the last question for the two tax years....what did anyone else think of that question....ended up using the marginal relief formula...was this right?
  • lala2009lala2009 Feels At Home Posts: 95Registered
    Hi Crazy Chick, I used the marginal relief formula too :) anyone remember any answers?
  • beansprout64beansprout64 Feels At Home Posts: 29Registered
    I think you where supposed to use the relief formula. I split my tax up into the 3 months and 9 months and had to use it for both periods.

    Did you have to use the lease formula for the first question in section 2?
  • lala2009lala2009 Feels At Home Posts: 95Registered
    lease formula? What's that? Uh oh......
  • troubletrouble New Member Posts: 11Registered
    i agree it was easy one, but i totally messed up with return, submition dates in both sections:crying: i think i failed:crying:
  • Crazy ChickCrazy Chick Feels At Home Posts: 38Registered
    no but i remember they had put the rates in reverse order on the printout at the front i nearly used the 2007 ones for 2008...bit of a trick....

    what did you do with the salary for emily (was it her ) for 20k ? I time apportioned it to the 6 months and then deducted it of the trading profits ...what did you do?
  • lala2009lala2009 Feels At Home Posts: 95Registered
    I dont think you would fail if you only got the dates wrong as they are just 10min questions?
  • lala2009lala2009 Feels At Home Posts: 95Registered
    I added 20,000 to the trading profit.... wasnt 100% sure what to do with it!
  • beansprout64beansprout64 Feels At Home Posts: 29Registered
    lala2009 wrote: »
    lease formula? What's that? Uh oh......

    it's where the car cost over 12,000 you had to use it. Or did i just read the question wrong?

    the formula is something like 1/2 x ((cost - 12,000) / cost) x hire charge
  • Crazy ChickCrazy Chick Feels At Home Posts: 38Registered
    hi trouble

    the return? dont remember seeing one do you mean the dates they were due? I screwed that up....only a year out ..got the months right :001_smile:
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