Personal tax - your thoughts?

Jointy

talinka wrote: »

It was 20% on furniture, however she contributed 100 each months towards it, so I deducted that from 20%*cost. But I did ignore the household expenses.

thought so

Cyfarthfa

I did annual rate + expensive accom + furn - contributions. No bills as she paid them all.

annual rate was figure given and expensive accom was the cost - £75k x 6.25%

Claire321

Sally wrote: »

I cant remember now!!! i had to write the months down along the side of the page to count up months of occupancy so if i've got this wrong after that ....i'm rubbish!!

I had to do that too - I got 8 months of rent in total

Jointy

GGG wrote: »

I did the same:
8*800=6400
less 2*800=1600
1*800=800
less comms (432)
total:5168

good stuff

lewpylew

Jointy wrote: »

i think they did a bunk in oct and nov and it was empty dec jan & feb and then new tenants in march

so i got 9 x 800 = 7200

bad debt 2 x 800 = -1600

commision 6% x 7200 = 432

Same as me!

talinka

I got £400 as well Jointy! ;-))

chrislloyd

jointy wrote: »

i think they did a bunk in oct and nov and it was empty dec jan & feb and then new tenants in march

so i got 9 x 800 = 7200

bad debt 2 x 800 = -1600

commision 6% x 7200 = 432

i got this

Sally

How about the woodworm riddled antique - 6000 - 15300 loss of 9300 .... i think? Any other answers

carolyn

Sally wrote: »

How about the woodworm riddled antique - 6000 - 15300 loss of 9300 .... i think? Any other answers

I got this.

GGG

Sally wrote: »

How about the woodworm riddled antique - 6000 - 15300 loss of 9300 .... i think? Any other answers

Same here

Jointy

Sally wrote: »

How about the woodworm riddled antique - 6000 - 15300 loss of 9300 .... i think? Any other answers

me too

Claire321

Sally wrote: »

How about the woodworm riddled antique - 6000 - 15300 loss of 9300 .... i think? Any other answers

I think that the same answer I came to

Ed1

Sally wrote: »

How about the woodworm riddled antique - 6000 - 15300 loss of 9300 .... i think? Any other answers

I got this too.

GGG

Looks like most of us got similar answer. We all should get into festive spitit now. Happy Christmas everyone! I am off!

carolyn

How did you treat the profit from business and expenses for the flat. I am a bit not sure.

Claire321

Does anyone remember the answer they got or how they calculated the chargeable gain on the sale of the shares?

chrislloyd

Ed1 wrote: »

I got this too.

I didnt

think i messed up on land and this one.....will I have done enough to pass if everything else is right?

Lottielu3

I got the same for rent but only took commission from rent they received, ie. £336.

A-Vic

Claire321 wrote: »

Does anyone remember the answer they got or how they calculated the chargeable gain on the sale of the shares?

it was just the pool add the bonas issue at zero re calaulate the cost per share, i think cost was 28k cost or something like that anyone else?

GGG

Claire321 wrote: »

Does anyone remember the answer they got or how they calculated the chargeable gain on the sale of the shares?

Mine was 25429

Sally

Claire321 wrote: »

Does anyone remember the answer they got or how they calculated the chargeable gain on the sale of the shares?

Think it was a straightforward disposal from the pool but i seem to remember the numbers i had were not round figures....ended in 1 i think.

chrislloyd

GGG wrote: »

Mine was 25429

me too

A-Vic

forgot what gain i put its starting to all muddle in to one for shares

jnrmo

for the antique table didnt you have to do the following equation

5/3 x (6000-15300)

which you should get £15500 loss???

talinka

jnrmo wrote: »

for the antique table didnt you have to do the following equation

5/3 x (6000-15300)

which you should get £15500 loss???

Deemed proceeds are £6,000

Sally

Thats marginal relief ... we had to apply the deemed proceeds of £6000rule to minimise the loss

Jointy

jnrmo wrote: »

for the antique table didnt you have to do the following equation

5/3 x (6000-15300)

which you should get £15500 loss???

thats if proceeds are more than 6 but cost is less than 6

carolyn

Does anyone know if I got the wrong benefit figure in task1.1, then the rest of the tasks will be wrong. how do they mark this? will they give me zero?

jnrmo

the shares should have been i think he
bought 10000 shares @ £5
he got bonus shares of 1 for every 20 shares
he sold i think was 6000 shares

so the 10000 shares cost £50000
bonus shares of 500 cost £0

10500 shares costing £50k

50000 / 10500 * 6000 = £28571 which is the cost price

he got some thing like £54000 for the 6000 shares

proceeds - £54000
cost - £28571
Gain - £25429

Jointy

carolyn wrote: »

Does anyone know if I got the wrong benefit figure in task1.1, then the rest of the tasks will be wrong. how do they mark this? will they give me zero?

if you carried on with your figures you will only get penalised once for task 1.1