PCT Today

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  • numbersishard
    numbersishard Registered Posts: 12 New contributor 🐸
    Lots of combinations of answers on here :D

    I took the pension cont off the basic salary then added the 2500 bonus on. Benefits, car was 20%, cost less his contribution of capital and fuel at the full 20%. Loan benefit is the interest so 20k x 4.75%, training was excempt as it is job related. I didn't do any apportionments for any of this so am a bit confused about comments regarding this. I did the calculations regarding charity and pension contributions without making any reference to apportionment of his actual salary. I just worked out how much the extended rate would be extended by and advised it was better to give through payroll giving.

    part two, I assumed the vases were a set so did a/a+b calc but didn't then 5/3 so not sure about that one.

    The necklace was proceeds less market value at acquisition.

    Shares, I got a bit confused but remeber the first part at £600? cant remember what the pool result was.

    Property, I didn't allow the repairs but put a note in that it was capital expense and therefore not allowed but if the lady argued it was required to rent the property out and could prove it was revenue it would be allowed but I stated that I have erred on the side of caution. So I hope that gets me a mark. The last property has a loss but the rest were gains. And the rent was apportioned due to the accruals.

    I computed the amount paid £5138 half of the previous year's liability plus balance or somehting. It took me while to get the 2011 payment but I got there inthe end.

    Overall, a fair exam I thought. I've done PEV, PCR and today's exams this week and found that PCR was the absoloute stinker even though I expected it to be PEV. But, as for how I've done, well, we'll have to wait for August haha.

    So, that's it, am done, off for a well deserved glass of wine and a night without homework for the first time in three years!!!!
  • Tarynmahon
    Tarynmahon Registered Posts: 11 New contributor 🐸
    Section 2 - Extending the Base Rate

    I was really confused by this as in the email, it asks you what the implications of both giving to charity through payroll and privately, I thought you only extended the base rate for private donations and payroll donations get deducted from employment income? In which case he hadnt decided which he was going to do? Also, why would his new earnings have any effect on the base rate band? And dont even get me started with Pensions! I completely cocked the whole exam up! This was supposed to be my last one as well and was looking forward to a bit of a break, never mind, Roll on re-sits!
    At least it looks like I got the vase question right, one is better than none I suppose!
  • rachelrunshaw
    rachelrunshaw Registered Posts: 41 Regular contributor ⭐
    Tarynmahon wrote: »
    I was really confused by this as in the email, it asks you what the implications of both giving to charity through payroll and privately, I thought you only extended the base rate for private donations and payroll donations get deducted from employment income? In which case he hadnt decided which he was going to do? Also, why would his new earnings have any effect on the base rate band? And dont even get me started with Pensions! I completely cocked the whole exam up! This was supposed to be my last one as well and was looking forward to a bit of a break, never mind, Roll on re-sits!
    At least it looks like I got the vase question right, one is better than none I suppose!

    Hia

    It was the gift aid which you gross up and extend the basic rate tax band by, likewise with the private pension. Does anyone remember how they worked out the calculation? I took his revised salary of £45,000 deducting his revised increased occupational pension contributions and the £25,000 bonus payable April 2010. Anyone else?

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