BTC Exam Today 3pm Official Thread
Comments
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Guess I will lose marks for taking it off, as did have a gain of something like £29,990 before I took it off : ( what did others get(if they can remember)? Sorry did not mean to confuse you all!!
That CT600 form was hard to fill in as my figures did not tie up! Wish we'd had a report to write instead if that as prefer waffling away!0 -
I missed out the employers loan to be written off too.... well annoyed!!!!!OMG I don't remember the write off of an employee loan?! Does anyone else?
What did people do with the £540 dividends which said that it had not been included in the p&L this baffled me.
And the rollover relief email i got this totally wrong though rollover relief would apply but friend says that was over 3years since invested new money into business... i didnt notice the dates and waffled on about how rolover relief would apply
GrRRrrrrrr0 -
never mind im sure a couple of small errors wont mean a fail for most of us. Its not an 100% pass rate (Anyone know the examiners address to send chocolate??????)
*the above was a joke just incase someone thinks im trying to bribe an official lol*0 -
I got £29900!!Guess I will lose marks for taking it off, as did have a gain of something like £29,990 before I took it off : ( what did others get(if they can remember)? Sorry did not mean to confuse you all!!
That CT600 form was hard to fill in as my figures did not tie up! Wish we'd had a report to write instead if that as prefer waffling away!0 -
I missed out the employers loan to be written off too.... well annoyed!!!!!
What did people do with the £540 dividends which said that it had not been included in the p&L this baffled me.
And the rollover relief email i got this totally wrong though rollover relief would apply but friend says that was over 3years since invested new money into business... i didnt notice the dates and waffled on about how rolover relief would apply
GrRRrrrrrr
wasnt over 3 years was it. I thought i had counted and checked..................maybe wrong but I thought it was just under.0 -
I missed out the employers loan to be written off too.... well annoyed!!!!!
What did people do with the £540 dividends which said that it had not been included in the p&L this baffled me.
And the rollover relief email i got this totally wrong though rollover relief would apply but friend says that was over 3years since invested new money into business... i didnt notice the dates and waffled on about how rolover relief would apply
GrRRrrrrrr
£450 just had to be grossed up and added to the PCTCT to get the "Profits" for the marginal relief calculation. Sometimes it's been put in the P&L and has to be removed during the adjustment.
The Rollover relief, over the 3 year time limit and hadn't reinvested the entire proceeds in the new business anyway - not entitled.0 -
why was the long term lease disallowable0
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Did anyone notice the associated company for the calculation of tax payable?? hope i did this right!! i made a few errors with the adjusted profits but overall got about 68000 for corp tax payable... also got £29900 for the shares.. wasnt too sure when to index!! lol0
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So was the rollover relief suitable for him or not, I put that it wasnt as he did not sell and re rebuy premises, asset etc but also quoted the one year before and 3 year after rule. did a big email about goodwill etc until last 15 mins and then crossed it all out and wrote a few lines saying the oppostite - !!0
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mark up - goods for personal use
was this a red herring? which question was the goods for personal use relevant too? It said the Trading Profit had already taken it into account????0 -
why was the long term lease disallowable
Because it's considered a capital item, if the cost of the lease had been entered into the capital allowances question, then the legal fees would have been added to the cost of the lease.
Short term leases (under 50 years) are allowable because they aren't capital items.0 -
I was wondering that, I had it allowable as I thought only new leases were disallowable!0
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Yes I noticed this, i divided the upper and lower limits by 2...Did anyone notice the associated company for the calculation of tax payable?? hope i did this right!! i made a few errors with the adjusted profits but overall got about 68000 for corp tax payable... also got £29900 for the shares.. wasnt too sure when to index!! lol
Is this correct?
It was in my short term memory bank!!!0 -
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I hope so as i didnt even check the dates but my friend said that it went back to 2006 and was more than 3yrs :S0
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Did anyone notice the associated company for the calculation of tax payable?? hope i did this right!! i made a few errors with the adjusted profits but overall got about 68000 for corp tax payable... also got £29900 for the shares.. wasnt too sure when to index!! lol
Yay that's 3 of us now that have £29,990! I then stupdily took off entrepreneurs relief(had a panic moment) so fingers crossed i still get the marks.
I also got confused and did not do the PCTCT calculation right as used the wrong figure and forgot to take off capital allowances. Shame I don't have to just pass section 1 as thought that was lovely! I will do this whether it takes me 2 or 22 attempts!0 -
£450 just had to be grossed up and added to the PCTCT to get the "Profits" for the marginal relief calculation. Sometimes it's been put in the P&L and has to be removed during the adjustment.
The Rollover relief, over the 3 year time limit and hadn't reinvested the entire proceeds in the new business anyway - not entitled.
I thought she sold the old business in Oct 2006 and brought stuff for the new business in May 2009 therefore under 36 months.???0 -
I dont think I covered this with leases under BTC, this seems to be more a DFS question . Oh another point lost!0
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Yes I noticed this, i divided the upper and lower limits by 2...
Is this correct?
It was in my short term memory bank!!!Yay that's 3 of us now that have £29,990! I then stupdily took off entrepreneurs relief(had a panic moment) so fingers crossed i still get the marks.
I also got confused and did not do the PCTCT calculation right as used the wrong figure and forgot to take off capital allowances. Shame I don't have to just pass section 1 as thought that was lovely! I will do this whether it takes me 2 or 22 attempts!
ahhh my fingers are crossed for u!!!
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