BTC Unit 18

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jewels.p
jewels.p Registered Posts: 1,774 Beyond epic contributor 🧙‍♂️
How I am ever gonna remember all this I do not know! :001_huh: This unit is worse than PTC with all the different rules etc!

Anybody else on this unit?

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  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    jewels.p wrote: »
    How I am ever gonna remember all this I do not know! This unit is worse than PTC with all the different rules etc!

    Anybody else on this unit?

    me :( plus second go - i will say learn your tax returns (s/a and CT600) this is what i messed up on
  • jewels.p
    jewels.p Registered Posts: 1,774 Beyond epic contributor 🧙‍♂️
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    I thought it might be a bit easier having already done PTC but it is not! :thumbdown:
  • Primble
    Primble Registered Posts: 734 Epic contributor 🐘
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    me 3rd go :( osborne books better than kaplan in my opinion
  • Rachey
    Rachey Registered Posts: 589 Epic contributor 🐘
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    I managed to pass this in June, with a bit of luck from the man up there!! The most helpful thing was remembering the layout - i.e. disallowable items, PCTCT etc........ I know I disallowed some allowable items (stupidly) in the exam but I showed I knew what I was on about so hopefully its all good. Its getting yourself into a routine, taking things step by step...!!
  • jewels.p
    jewels.p Registered Posts: 1,774 Beyond epic contributor 🧙‍♂️
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    Anyone got an easy way of remembering the tax years that each period is in?

    I get confused with this. Is it say for example the accounts were 1/9/09 to 31/08/10 then the tax year is 2009/2010 because the year starts in 2009 or is it the tax year 2010/2011 cause the year ends in 2010. How do you remember this?
  • bumblebee
    bumblebee Registered Posts: 135 Dedicated contributor 🦉
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    Sole trader

    Tax years ends 5 April. so, if the accounting year is for the 1.09.2009 to 31.08.2010, the tax period will be as follows:

    you take the starting date to 5th of April i.e 1.09.2009 - 5.04.2010 ---this figures will be used for the tax year 09/10;

    The following tax return for the year (2010/11 which is 6.04.2010 to 5.04.2011) profits will be taken for year ended 31.08.2010 (this is because the accounting year falls in the tax year)

    This will give rise to overlap profit/loss for the period from 1.09.2009 to 5.04.2010, which will be carried forward.

    Hope this helps
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    Rachey wrote: »
    I managed to pass this in June, with a bit of luck from the man up there!! The most helpful thing was remembering the layout - i.e. disallowable items, PCTCT etc........ I know I disallowed some allowable items (stupidly) in the exam but I showed I knew what I was on about so hopefully its all good. Its getting yourself into a routine, taking things step by step...!!

    i got exceeded on this part - but the Tax return let me down was told it wasnt many points but it seems it was, also read up on associates and treatment of marginal relief upper and lower limits
  • Khar1
    Khar1 Registered Posts: 4 New contributor 🐸
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    Same here! I am struggling with this unit. This December exam will be my 3rd attempt. :(
    I think I need a study partner or something. I am buying unit 18 FA2009 book because the one I had been studying is FA2008. Not sure it will make any different.
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