Personal tax - your thoughts?
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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?
They should award marks for the workings and each stage of the question, so you should be able to pick up some marks even if you end up with the wrong answer and you don't need 100% to pass0 -
What did you guys get for the Benefits in 1.1?
Mine was showing benefits from accomodation only, no other benefits other than those related to accom?0 -
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what is the percentage passrate? is it 75%0
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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
il second that0 -
what is the percentage passrate? is it 75%
I did asked Paul Bowen, the AAA deputy exams manager at a recent branch event and he said the pass mark required is on average 60%, however you do need achieve comptency in both sections of the paper.
I have also heard that the pass mark for the DFS papers is one of the highest which can be as high as 70%.
I wonder if the pass mark might be a little higher for this paper as most people seem to have found it not too bad ans they are supposed to adjust the pass marks accordingly0 -
What did you guys get for the Benefits in 1.1?
Mine was showing benefits from accomodation only, no other benefits other than those related to accom?
That was right, only rateable value, expensive property and the use of the furniture (less her contribution).
The other benefits were exempt (phone, loan and employers pension contribution) and the household costs she paid herself so not considered.0 -
i included the isa but put as nil just to see if it managed to get another point lol0
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think my figures were the same as JRNMO... how can people remember all this stuff???
lol its suprising how everything comes back to you once you walk out the exam hall!!!
i know i've messed this exam up like the pension being calculated from june and the rental income figure. i just hope by some miracle i manage to pass this exam. the tutor in my college that taught person tax was rubbish. if you didnt understand something she'd just repeat what she said before but a bit louder!!!0 -
Does anyone know when the papers for this and DFS are on the website?? I really want to see the ECR paper as well, am so relieved i sat that in June. Most of those who sat it are up in arms that it was so different.0
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Messed up on the list price thing, I thought that was what would have had to be paid so said she would have pay 3k towards it to make it 22k and then her company would allow it.
Based my calcs on it
Hopefully il get some marks for it and it wont matter too much.0 -
lol its suprising how everything comes back to you once you walk out the exam hall!!!
i know i've messed this exam up like the pension being calculated from june and the rental income figure. i just hope by some miracle i manage to pass this exam. the tutor in my college that taught person tax was rubbish. if you didnt understand something she'd just repeat what she said before but a bit louder!!!
my tutor sounds simular your not in NW are you lol0 -
my tutor sounds simular your not in NW are you lol
lol no am in BFD. i wouldnt normally check my answers after the exam but i seriously getting this horrible feeling i've messed it up because of the dates and the 5/3 rules when to use it.
all it'll mean is that i'll have to sit 3 exams in june instead of 1 DFS exam!!!
i really hope i just lose 1 mark for the dates and that 5/3 rule.
i dont normal try to worry about the exam once its gone because there's nothing you can do about it but am just ganna hope the examiers a bit relaxed when they mark the exams.
heres to hoping eh!!!0 -
i hope i get the same marker lol still in shock from last year lol
Well i think ive earned an indian or chinese for tea0 -
What about the previous years loss year from rent in section 2?
Were you supposed to take off the loss in the computation or the rental income part?0 -
the loan for the car that was taxable wasnt it?0
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What about the previous years loss year from rent in section 2?
Were you supposed to take off the loss in the computation or the rental income part?
yeh when you worked out the assessable amount you needed to take off loss from previous years (i totally forgot about the loss which is another area i hope i just lose 1 mark for that)0 -
Yep I believe so but I forgot! oops0
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I think so. But others said it was exemption. I wonder....
It puzzled me for a while as well...at first, I thought it was exempt as under £5000, but it was provided from 1st July so I worked out the equivalent for the whole tax year would have been £5,333...so decided to include it in my benefits....bur really don't know now...I just did that because I found strange there was only one benefit in total (flat), so when re-checking I had not missed something, I spotted that....maybe over-thinking ???0
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