PTC Friday
wonderwife2008
Registered Posts: 41 Regular contributor ⭐
After the disaster that was BTC do I want to attempt PTC that is the question!!!
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Comments
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Yes it much easier.. she says tentatively
I am hoping one out of two wont be bad lol0 -
God I hope so ... I thought that BTC was hard especially when you compare it to previous year's papers0
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me too
and there was stuff on it we hadnt covered or wasnt in my text book so even if I had a photographic brain wouldnt have known it lol
My tutor is telling me that all charitable donations made can be deducted from the PCTCT but we only learnt Gift aid and it gift aid thats in my text book...he also tells me no charitible donation is allowable against Trading income yet someone said thats its ok for a local charity. what chance do we have I ask you .
never mind good luck for friday0 -
In my osborne book it says, and i quote:
"CHARITABLE PAYMENTS - These items can be deducted from the total profits of the company in the PCTCT calculation as Gift Aid payments. Where this occurs the expenditure cannot also be deducted in the calculation of trading profits."
So to sum it up:
A - i deducted it from both the trading profit calculation and PCTCT calculation
and B - I only deducted the Gift Aid and not the charitable payments.
So i clearly read this section and decided to forget all about it in the exam!! HAHAHA
rob0 -
and just to send you completely bonkers taxation is the only area where the rules change every year0
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wonderwife2008 wrote: »After the disaster that was BTC do I want to attempt PTC that is the question!!!
Well, you've paid for it and studied for it, so there's nothing to lose by going for it!FMAAT - AAT Licensed Member in Practice - Pewsey, Wiltshire0 -
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Hey Rob
me too lol
i added back all the charity stuff and just deducted gift aid coz I thought you couldnt do the others..or some other excuse
lol0 -
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i messed up the second part of Business taxation so i HAVE to pass the exam on Friday otherwise my employer will go mad0
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It'll be fine ...
it'll be fine it'll be fine it'll be fine. The way I look at it is failing is cheaper than a revision course0
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