PTC - done

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  • Tracy Keeley
    Tracy Keeley Registered Posts: 29 Regular contributor ⭐
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    hanapospis wrote: »
    I put the childcare as exempt as well..
    the clock as chargeable

    How did you deal with the paintings? I used the formula for part disposal.. is this right?

    What about the contribution towards the provision of the car? Did you take £1200 out of the cost of the car before calculating the percentage?
    I took out two years contribution to the car as she had the car from new since April 2007 - not sure that was right now but a small error at least they can see I know what to do with the contributions!!!
  • hanapospis
    hanapospis Registered Posts: 111 Dedicated contributor 🦉
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    I thought it was capital nature contribution rather then revenue??? Therefore decreasing the cost of the car.. may be wrong..
  • alicemaylara
    alicemaylara Registered Posts: 259 Dedicated contributor 🦉
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    Tracy Keeley wrote: »
    I took out two years contribution to the car as she had the car from new since April 2007 - not sure that was right now but a small error at least they can see I know what to do with the contributions!!!

    I think that would have been assessed last year so you just take one years..yeah you wont loose too many marks :)
  • diamondavid
    diamondavid Registered Posts: 33 Regular contributor ⭐
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    hanapospis wrote: »
    40K for 9 months = 30K
    42K for 3 months = 10.5K

    tho total employment income = 40.5K. Is it right?

    less the pension 1620
    total employment income is 38880
  • alicemaylara
    alicemaylara Registered Posts: 259 Dedicated contributor 🦉
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    hanapospis wrote: »
    I thought it was capital nature contribution rather then revenue??? Therefore decreasing the cost of the car.. may be wrong..

    i may also be wrong! but i did check my tutor pocket notes before and luckily came across the car benefit page, apparently any fuel contributions by the 'ee' is ignored and only car maintenance is allowed to be deducted. Im pretty sure its deducted after the benefit
  • Tracy Keeley
    Tracy Keeley Registered Posts: 29 Regular contributor ⭐
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    alicemaylara wrote: »
    I think that would have been assessed last year so you just take one years
    Makes sense now, am always on the look out for a trick question !!!

    Will live with the error I wouldn't have thought it was enough to fail me. Still confident.
  • hanapospis
    hanapospis Registered Posts: 111 Dedicated contributor 🦉
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    I take off only one year... as he had it in 2007/2008 and in 2008/2009 he bough it from employer

    I had benefit in kind of £2840 for it

    4800x20% = 960
    4800-960-1000 = 2840...
  • alicemaylara
    alicemaylara Registered Posts: 259 Dedicated contributor 🦉
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    Tracy Keeley wrote: »
    Makes sense now, am always on the look out for a trick question !!!

    Will live with the error I wouldn't have thought it was enough to fail me. Still confident.

    Totally, they are so silly always out to trick...
  • alicemaylara
    alicemaylara Registered Posts: 259 Dedicated contributor 🦉
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    hanapospis wrote: »
    I take off only one year... as he had it in 2007/2008 and in 2008/2009 he bough it from employer

    I had benefit in kind of £2840 for it

    4800x20% = 960
    4800-960-1000 = 2840...

    yeah but i think its the higher of that calculation and
    MV at date provided - price paid by employee

    Although they didnt give a mv at date provided i dont think so you may well be right :confused:
  • Chris023
    Chris023 Registered Posts: 93 Regular contributor ⭐
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    hanapospis wrote: »
    I take off only one year... as he had it in 2007/2008 and in 2008/2009 he bough it from employer

    I had benefit in kind of £2840 for it

    4800x20% = 960
    4800-960-1000 = 2840...

    I made a muck up of this benefit...

    I apportioned the 960 for 6 months
  • diamondavid
    diamondavid Registered Posts: 33 Regular contributor ⭐
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    so i got 1.1 all wrong oops, wot about the 1 that was detroyed by fire, i did 48k-24k(basically the big figure less the small figure)

    and wot about the property, clean cost and the redecation

    wear n tear was 724.60?

    ps as long i pass PEV im happy LOL
  • Tracy Keeley
    Tracy Keeley Registered Posts: 29 Regular contributor ⭐
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    hanapospis wrote: »
    I take off only one year... as he had it in 2007/2008 and in 2008/2009 he bough it from employer

    I had benefit in kind of £2840 for it

    4800x20% = 960
    4800-960-1000 = 2840...
    Ok so thats two mistakes I have made !!!

    Still confident !!
  • alicemaylara
    alicemaylara Registered Posts: 259 Dedicated contributor 🦉
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    diamondavid wrote: »
    so i got 1.1 all wrong oops, wot about the 1 that was detroyed by fire, i did 48k-24k(basically the big figure less the small figure)

    and wot about the property, clean cost and the redecation

    wear n tear was 724.60?

    ps as long i pass PEV im happy LOL

    yeah thats what i did for the clock

    i think my wear and tear was that too, cant remember exact figure but that rings a bell

    dont remember the propery figures at all! but it was easier than usual as they gave all the figures and it was all through the year happy days!
  • Chris023
    Chris023 Registered Posts: 93 Regular contributor ⭐
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    for the property....I included everything apart from the new furniture..and then did the wear and tear on property 2..
  • Tracy Keeley
    Tracy Keeley Registered Posts: 29 Regular contributor ⭐
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    diamondavid wrote: »
    so i got 1.1 all wrong oops, wot about the 1 that was detroyed by fire, i did 48k-24k(basically the big figure less the small figure)

    and wot about the property, clean cost and the redecation

    wear n tear was 724.60?

    ps as long i pass PEV im happy LOL
    I added the cleaning and re-decoration as allowable expenses

    With the destroyed item I treated that as : Proceeds (Insurance payment rec'd)
    Less Cost

    The insurance payout amounts to the same as a sale as it was money received by the owner.
  • diamondavid
    diamondavid Registered Posts: 33 Regular contributor ⭐
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    but im sure either clean cost or the redecaration is exempt
  • Chris023
    Chris023 Registered Posts: 93 Regular contributor ⭐
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    yeah I was expecting some big property question...like the one in the revised June 08 paper...and maybe some PPR too
  • Tracy Keeley
    Tracy Keeley Registered Posts: 29 Regular contributor ⭐
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    I could not remember what to do with the loss brought forward on the Capital Gains, I'm sure it was more complex I tried to remember and in the end I just allocated all the loss b/f against the net gain. I carried this all the way through. Should only be marked wrong against the original error.

    Am I right in thinking there was more to it that allocating all that loss against the gain. ???
  • hanapospis
    hanapospis Registered Posts: 111 Dedicated contributor 🦉
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    alicemaylara wrote: »
    i may also be wrong! but i did check my tutor pocket notes before and luckily came across the car benefit page, apparently any fuel contributions by the 'ee' is ignored and only car maintenance is allowed to be deducted. Im pretty sure its deducted after the benefit

    I have also checked my study notes.
    If paid for capital contributions you deduct it from list price
    If pair for revenue contributions you deduct it after benefit calculation

    I was not sure what they meant by "contribution towards provision of the car" . I knew I had 50:50.. so probably went for the wrong way :crying:
  • hanapospis
    hanapospis Registered Posts: 111 Dedicated contributor 🦉
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    diamondavid wrote: »
    so i got 1.1 all wrong oops, wot about the 1 that was detroyed by fire, i did 48k-24k(basically the big figure less the small figure)

    and wot about the property, clean cost and the redecation

    wear n tear was 724.60?

    ps as long i pass PEV im happy LOL

    my wear and tear was 732.40 :confused1:
  • 111beckstar111
    111beckstar111 Registered Posts: 158 Dedicated contributor 🦉
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    I loved todays paper :) easier than i thought it would be...

    i got that for wear and tear too !!!
  • 111beckstar111
    111beckstar111 Registered Posts: 158 Dedicated contributor 🦉
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    Yes Tracey you are right about the capital loss well done!!
  • Tracy Keeley
    Tracy Keeley Registered Posts: 29 Regular contributor ⭐
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    111beckstar111 wrote: »
    Yes Tracey you are right about the capital loss well done!!
    Thanks

    I'm confident despite two errors !!
  • alicemaylara
    alicemaylara Registered Posts: 259 Dedicated contributor 🦉
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    hanapospis wrote: »
    I was not sure what they meant by "contribution towards provision of the car" . I knew I had 50:50.. so probably went for the wrong way :crying:

    Me neither.....they should describe that better for thick people like me!
  • hanapospis
    hanapospis Registered Posts: 111 Dedicated contributor 🦉
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    alicemaylara wrote: »
    Me neither.....they should describe that better for thick people like me!

    you read my mind :thumbup1::thumbup1:
  • alicemaylara
    alicemaylara Registered Posts: 259 Dedicated contributor 🦉
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    Ahaa i just thought, the payment was monthly of £100 so its likely to be running costs (my dad just backed me on this hes an accountant:001_rolleyes:)
  • hanapospis
    hanapospis Registered Posts: 111 Dedicated contributor 🦉
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    alicemaylara wrote: »
    Ahaa i just thought, the payment was monthly of £100 so its likely to be running costs (my dad just backed me on this hes an accountant:001_rolleyes:)

    ok.... so another mistake..... I am not so confident anymore:crying::crying:

    They should have described it better, anyway.
  • alicemaylara
    alicemaylara Registered Posts: 259 Dedicated contributor 🦉
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    hanapospis wrote: »
    ok.... so another mistake..... I am not so confident anymore:crying::crying:

    They should have described it better, anyway.

    Its only a small mistake dont worry i know i have made a few, we are all allowed a mistake or two (or in my case a few more)
  • hanapospis
    hanapospis Registered Posts: 111 Dedicated contributor 🦉
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    diamondavid wrote: »
    but im sure either clean cost or the redecaration is exempt

    redecoration is for sure allowable.. not so sure about cleaning bu I put it as allowable as well
  • alicemaylara
    alicemaylara Registered Posts: 259 Dedicated contributor 🦉
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    hanapospis wrote: »
    redecoration is for sure allowable.. not so sure about cleaning bu I put it as allowable as well

    Yeah pretty sure about cleaning its wholly and exclusive isnt it? I think we could teach the MP's a thing or too. they should have to take this exam!

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