BTC Exam Today 3pm Official Thread
Rachey
Registered Posts: 589 Epic contributor 🐘
Hi everyone,
As soon as 3pm arrives, posts below!!!
As soon as 3pm arrives, posts below!!!
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Comments
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Does my time post say 3pm yet....? My clock does!!0
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Yea so does mine0
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Section 2 = so hard :-(
Section 1 = ok
I have a capital allowances figure of £45,170 but dunno what section thats for.. duh!!! I was so stressed i couldn't remember....0 -
Right!
I messed up on that rollover relief question! I went on and on about how Goodwill was excluded from rollover relief lol0 -
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i normally finish papers in 1.5 hrs , i was there to the end. I did struggle over section 10
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Is it? I dodnt even know that..... oops. I mentioned the annual exemption and stuff. Did anyone else multiply the £2.40 class 2 NIC's by 48 weeks or just silly me???0
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What did peple do about the employee loan in section 2, the directors personal use of the car, the charity
I got something like 77k ish for the corp tax less marginal relief
and what about the charity payments0 -
I really messed up the capital allowances. I bloody did it right then crossed it out!!!!!!
I think it should have been - time apportion for the AIA as one was bought b4 April 2009. Then the next one was allowed the 40%
Unfortunately i only remembered that on the way home!!!! :-(
At least i remembered MD's car had no private allowance and was still capped at 3k.
Think i was fine on section 1 but too many mistakes on sec 2 - am soooo angry with myself cus i know it really - just screwed up on the day.
Ampsie
:-(0 -
That capital allowance figure rings a bell!
I got more confused on the first section than the second I think... Except when I panicked a realised that I hadn't deducted the AEA £10,100 from the sale of shares until I remembered that it was a company so it doesn't apply! lol
PROFIT MARGIN
That would be that the cost is 60% and the profit is 40% on top of that right? So total market value £1,200? I did mark up (add 40%) then I realised it said mark up and spent ages thinking back to our old modules...0 -
draindoctor@ntlworld.com wrote: »What did peple do about the employee loan in section 2, the directors personal use of the car, the charity
I got something like 77k ish for the corp tax less marginal relief
and what about the charity payments
I deducted the local charity and the gift aid. The personal use for directors car wasn't applicable because it was a limited company.
AT THIS POINT A BIG THANKYOU TO REDDWARF WHO TAUGHT ME THAT ON THE REVISION THREAD!!!!!!!0 -
I did 49 weeks i think - oh dear, mistake number 10
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I did NICs by 49 weeks0
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What about the capital aloowance comp in section 2 with the two additions of plant & machinery. Did you split the comp as 40% FYA only allowable from 01.04.09???0
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i think the only one im confident on is task 1.5 about the father asking you about Olivia's profit margin haha0
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With NICS I did £2.40 * 52 /12 months times 11 months I think!!0
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My overlap from section 1 was
14500
87000 * 2/12
think the profit for the first 9 months was 33378 or something probs wrong0 -
wonderwife2008 wrote: »What about the capital aloowance comp in section 2 with the two additions of plant & machinery. Did you split the comp as 40% FYA only allowable from 01.04.09???
I was wondering about this. The first purchase was before the date available for FYA but didnt it not matter anyway because it was entitled to the full AIA?? It was the second one that had the partial AIA and then needed the FYA. Pleeeeeeease correct me if i'm wrong... :-)0 -
Marky Astra wrote: »i think the only one im confident on is task 1.5 about the father asking you about Olivia's profit margin haha
Confidentiality lol. I'm with you on that, hahaha.0 -
how do the donations work, i know about gift aid but it threw me when it said local donation and national0
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AAAAAAAAAAAAAAAAAArrgggggggggghhhhhhhhhh0
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I was wondering about this. The first purchase was before the date available for FYA but didnt it not matter anyway because it was entitled to the full AIA?? It was the second one that had the partial AIA and then needed the FYA. Pleeeeeeease correct me if i'm wrong... :-)
Correct !..I think !!0 -
I did the nics as
365 days less 24 days
341/7 to get no of weeks = 48.7
I think I have gone made0
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