BTC - Parking Fines!

Michelle84

Hi,

I've just been doing the BTC past paper December 2007 and in the calculation of trading profits in task 1.1 I didn't add back the parking fine incurred, as in my osborne book under 'Fines for law breaking' it states that 'there are exceptions for employees' parking fines (if incurred while on business.) However in the answer they have added this back in. Does anyone know the reason for this, is the book wrong? Or is it something to do with being a sole trader? Just trying to get all the little things straight in my head, thanks in advance!

Bluewednesday

Employee parking (not speeding) fines are allowable but directors ones aren't. Was it a director?

Ernest28

Just be careful about doing past paper dateing back to 2007 as the tax rules have changed, and the lectures keep drumming on about not using these paper for revision. Apparently June 09 is fine.

Michelle84

Thanks for the tip, I'm doing BTC on my own outside of college so I haven't spoken to a tutor about the best papers to practice on. I'll stick to the more recent stuff and the ones in the books. Any other suggestions for good exam practice material?

Jon_1984

Our tutors told us that Osbourne/BPP etc. update the past papers they show to reflect any rule changes so as long as you have the current books you should be OK.

The ones to avoid/be careful are the downloads from the AAT website, which are exactly as was given to the candidates of the various exams and reflect the rules at that time.