PTC Friday

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wonderwife2008
wonderwife2008 Registered Posts: 41 Regular contributor ⭐
in AAT Level 4 (Level 8 in Scotland)
After the disaster that was BTC do I want to attempt PTC that is the question!!! :)

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  • pirate
    pirate Registered Posts: 469 Dedicated contributor 🦉
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    Yes it much easier.. she says tentatively

    I am hoping one out of two wont be bad lol
  • wonderwife2008
    wonderwife2008 Registered Posts: 41 Regular contributor ⭐
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    God I hope so ... I thought that BTC was hard especially when you compare it to previous year's papers
  • pirate
    pirate Registered Posts: 469 Dedicated contributor 🦉
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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 friday
  • valentino46
    valentino46 Registered Posts: 124 Dedicated contributor 🦉
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    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


    rob
  • wonderwife2008
    wonderwife2008 Registered Posts: 41 Regular contributor ⭐
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    and just to send you completely bonkers taxation is the only area where the rules change every year :)
  • anniem
    anniem Registered Posts: 1,326 Beyond epic contributor 🧙‍♂️
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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, Wiltshire
  • Lou1234
    Lou1234 Registered Posts: 210 Dedicated contributor 🦉
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    anniem wrote: »
    Well, you've paid for it and studied for it, so there's nothing to lose by going for it!

    I agree with this!

    I did so badly in BTC it gave me the kick up the backside to get stuck into PTC so I took today off work and have done many hours study today!! I say go and give it a go!
  • pirate
    pirate Registered Posts: 469 Dedicated contributor 🦉
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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

    lol
  • Ampsie
    Ampsie Registered Posts: 145 Dedicated contributor 🦉
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    Lou1234 wrote: »
    I agree with this!

    I did so badly in BTC it gave me the kick up the backside to get stuck into PTC so I took today off work and have done many hours study today!! I say go and give it a go!

    Exactly what i did today - asked for a day off and just got stuck into it!

    Ampsie
  • agatha
    agatha Registered Posts: 41 Regular contributor ⭐
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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 mad :/
  • wonderwife2008
    wonderwife2008 Registered Posts: 41 Regular contributor ⭐
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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 course :)

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