BTC - how did you find it...

lewpylew

Know we cannot talk it about it properly yet but I have come home in tears.... will be definitely resitting that in June Found section 1 really hard!

LucyB

Yeah I found section 1 very hard and was unsure on if to do a WDA for the capital gains or not seeing as it as ceased!

Mog17

Oh dear! I kept thinking I'd missed the point as it was really easy!!! A couple of other people came out same time as me and felt the same....

Lynn Saunders

Struggled with a couple of tasks on part 1... wasn't entirely sure what they were getting at. Part 2 seemed ok...

Am I right in thinking we can discuss this properly after 3pm today?

I so want to know if anyone did the same as me!!!

lisnic

not as bad as i expected

i spent 5 mins before i even looked at a question writing down key things that i always forgot and things like due dates, penalties etc for tax and returns and im glad i did will disclose why later!

i think the first section was less obvious than second

ive came away thinking i have a chance of passing - not a think ive pass/fail but i feel i have a chance which is an improvements as i very much so was not confident! i distance learning and only decided to do this exam 2 days before exam entry closed and i didnt even open a book until few days after that so prob the reason ive not felt confident about this! considering all this it went better than i expected it too and im happy with what ive done... i think

Lyn32

I was puzzle task 1.2 keep changing my answer but I'm glad to my final one but I think task 1.1 very straight forward or just me but I was optimistic with my answer last task 2.5 I hate wording but I cant remember much but I do my best. task 1.2 and task 2.5 are the weakest for me.

lewpylew

Lynn Saunders wrote: »

Struggled with a couple of tasks on part 1... wasn't entirely sure what they were getting at. Part 2 seemed ok...

Am I right in thinking we can discuss this properly after 3pm today?

I so want to know if anyone did the same as me!!!

Yep at 3pm we can discuss away and I'll probably feel worse than I do now but hey ho, nothing I can do about it now. Just going to work my socks off so I do well in personal tax fingers crossed x

Priya-p

section 1 was HARD! i was confuuused..

suewa46

I thought it was easier than any of the past papers Ive studied - I cant help thinking I might has misread it?

All the things I was sure they would test like the lease payments weren't there?

Claire321

There were a few questions where I though what are they actually asking for? Hopefully will get a few marks for some of the workings.

lisnic

Lyn32 wrote: »

I was puzzle task 1.2 keep changing my answer but I'm glad to my final one but I think task 1.1 very straight forward or just me but I was optimistic with my answer last task 2.5 I hate wording but I cant remember much but I do my best. task 1.2 and task 2.5 are the weakest for me.

if 1.2 is the question i think i sat going omg for a min looking for a figure that i didnt need from tax table and so trying to make it harder for myself and then it clicked (i think anyway!)

2.5 i also agree however i can blabble on so i am happy i will get some marks as looking at my notes after not perfect but i have put a lot of valid points in i think

i need to get off here and do some dfs! last surge! ill be back at 3!

carrieclarke2001

BTEC so glad its over

lisnic wrote: »

if 1.2 is the question i think i sat going omg for a min looking for a figure that i didnt need from tax table and so trying to make it harder for myself and then it clicked (i think anyway!)

2.5 i also agree however i can blabble on so i am happy i will get some marks as looking at my notes after not perfect but i have put a lot of valid points in i think

i need to get off here and do some dfs! last surge! ill be back at 3!

Was a tricky exam but feel I did ok cant wait till 3pm to find out what I should have done and loose any confidence I have at the moment lol

talinka

Hi everyone!
I think the paper was ok actually. I am a distance learner and I have just started to study it last monday, had whole week off work but I feel like I did well enough to pass. Was a bit confused about filling the form though.

clairet

had an awful exam, got myself really worked up over section 1, section 2 i found easier.

Really wasn't sure how to fill in the tax return!

look forward to 3 so i can stress myself out even more...

1 down 1 to go!

carrieclarke2001

task 1

clairet wrote: »

had an awful exam, got myself really worked up over section 1, section 2 i found easier.

Really wasn't sure how to fill in the tax return!

look forward to 3 so i can stress myself out even more...

1 down 1 to go!

Ok lets go its 3pm

shaunjubb

paper seemed "okay" there has been worse ones . as for that section 1, i got a very round number after deducting overlap profits which seemed wierd, but could be correct.
when are the official results due to be emailed out?

talinka

Can we discuss the paper now? Anyone?

carrieclarke2001

yes

carrieclarke2001

shaunjubb wrote: »

paper seemed "okay" there has been worse ones . As for that section 1, i got a very round number after deducting overlap profits which seemed wierd, but could be correct.
When are the official results due to be emailed out?

what over lap where did u duduct it ??????????

civicmeister

There was overlap of £6,318 and my adjusted trading came to £46,318 or something like that - although I'm pretty certain I needed to have taken the £30k from the last year of trading also - but I couldn't work out where that would have gone on the tax return so left it out in the end.

Ell1e

There was £8316 (i think if I remember) to deduct.... my taxable profts were 40000.

I thought this was a nice round number but looking at his previous year figures of 30000 and 50000 it seemed ok.

Ell1e

civicmeister wrote: »

There was overlap of £6,318 and my adjusted trading came to £46,318 or something like that - although I'm pretty certain I needed to have taken the £30k from the last year of trading also - but I couldn't work out where that would have gone on the tax return so left it out in the end.

I dont think so.. it said he had been tradiing for many years so he would be on current year basis

civicmeister

£40k was what I was left with - where did you put the overlap on the return?

Ell1e

I didnt... it didnt give you that page to fill in.

talinka

I also got the profit a round figure in section 1. Overlap profit was mentioned together with all the rates and tables. My profit came to 70.000. When filling in the form, where does the goodwill figure go? I put it in box 15

Vics

Thank god its over

I didnt find it too bad! I went in really worried about it & have come out a little bit more confident!! Hopefully it went ok!

I knew that we weren't supposed to add any WDA as it had ceased to trade but kept thinking that i should do sum thing with the fact it was only 9mths for task 1.

am praying it went ok

hope every1 else did alright

2 down 1 to go!!

GemmaLouise

In the year of cessation you have to access all the profits left to access therefore the amount for the 30/04/08 would have needed to be assessed.

carrieclarke2001

I got totally lost on that question
I used adjusted profit
less loss
2007 50k/12
2008 30k /12 x 11
came to about 50,334
then the next question was the NI

Ell1e

doh

Vics

I got £40k as well so hopefully...

civicmeister

Yeh I thought the £30k should have been there - I kinda crossed it out but didn't if that makes sense I was torn between £40k and £70k - couldn't work out where the £30k should go on the return though as only had information for turnover and expenses etc for the 9 month period!