Home For AAT student members AQ 2013 AAT Level 4 (Level 8 in Scotland)

Business or Personal Taxation

RuddRudd New MemberRegistered Posts: 14
I have just bought Business Taxation Study book by mistake, I was suppose to do Personal Taxation.

Please can you help me which one is easier btwn Unit 18 or 19 I am only left with Unit 8 and either 18 or 19 to finish my AAT

Any help will be appreciated

Comments

  • RichardKRichardK Well-Known Registered Posts: 107
    Hi Rudd,
    Personal Taxation (PCT= Personal Taxation Computations) is the easier of the two subjects. However, you may wish to keep your Business Taxation book for future reference as it is likely you will want to refer to it once you get a job.

    Note that in your personal taxation exam scenarios you are likely to be given figures for business profits in addition to a salary relating to a person. Therefore although you wont have to apply the calculations to arrive at a figure for business profits you will be you are likely to have to consider business profits as part of a someones personal income and then calculate the Total Tax Liability and Tax Due based on these different forms of income.

    You may wish to remember the important distinction between Total Tax Liabiity and Tax Due. Total Tax Liability is the figure before you subtract tax which has already been paid and Tax Due is the figure you are left with after subtracting the tax already paid.

    e.g Tax Due= Total Tax Liability-Tax Already Paid

    Or in this logical order:

    Categorise & calculate gross income=> Apply Personal Alowance=> Calculate Tot Tax Liab=> Calculate Tax Due

    Also make sure you are very familiar with CGT (Capital Gains Tax) rules on wasting and non wasting Chattels.

    I recommend you get both the Osborne and BPP books for Personal Taxation if you can afford both. The BPP PTC book can be a bit vague in areas which is likely to impact on your exam result.

    I hope this helps
  • RuddRudd New Member Registered Posts: 14
    Thanks RichardK.
    I appreciate your help. I am using Kaplan books are they better than Bpp and Osborne??
    I think I have to do PTC. I am already working as Accounts Payable of which I dont do any Returns yet. i just want to finish AAT and move on.

    many thanks
    Rudd
  • RichardKRichardK Well-Known Registered Posts: 107
    Rudd wrote: »
    Thanks RichardK.
    I appreciate your help. I am using Kaplan books are they better than Bpp and Osborne??
    I think I have to do PTC. I am already working as Accounts Payable of which I dont do any Returns yet. i just want to finish AAT and move on.

    many thanks
    Rudd

    Hi Rudd,
    In which case I strongly advise you to invest in the Osborne book to be on the safe side. Their passcards can also be very helpful in the final days before the exam.

    I hope this helps.
  • piratepirate Trusted Regular Registered Posts: 469
    RichardK wrote: »
    Hi Rudd,
    In which case I strongly advise you to invest in the Osborne book to be on the safe side. Their passcards can also be very helpful in the final days before the exam.

    I hope this helps.

    Hi Richard

    Where can you get Osborne passcards? Or do you mean another companies passcards

    thanks

    Karen
Sign In or Register to comment.