PTC Paper exam 16th Dec 2010

fairycake

Did anyone else take the rescheduled exam yesterday? There were some glaring mistakes in the question data - I don't know how they managed to miss these when preparing the paper. Really we could have done without it, we've had enough stress over missing the first exam and trying to arrange getting to the rescheduled date already!

Here's a nice example from the company car benefits data:

1. Henry pays £150 per month to the company to contribute towards running costs of the car
next bullet point...
2. Henry pays all running costs including fuel

Which is it? Come on AAT, help us out here!

Does anyone know when are they going to put the rescheduled papers online so that we can complete the feedback questionnaires? At the moment they only have the original Dec 10 papers.

Oh dear.

deborahcarpenter

It was one of those trick questions i think. The employer doesnt pay any running costs so
How can he contribute towards nothing?
I thought it was a good paper though?

fairycake

I found section one ok, nothing too scary in there, but I did get a bit confused with the property income in section 2. I couldn't remember if gas and electricity were allowable expenditure (I don't remember seeing them in any past questions) and also I wasn't sure if we had to time apportion the expenditure on the property which was unavailable for letting for a few months. When I did the class on this our tutor said we should time apportion it, but I've checked my textbook since the exam and it doesn't mention it anywhere...

but otherwise not too bad. I think the CGT was ok - i didn't get any liability because her gains were less than the 10100 AE, did you get this?

deborahcarpenter

No, i got a CGT liability but cant remeber how much.

I had a gain on the house
car exempt
loss b/f from previous year
cant remember what else therer was but i, sure there was something!!

But i definately got a CGT liability for the year?

fairycake

Yes I also had a gain on the house but only about 3k after the PPR. I remembered that the car was exempt, I don't think there were any other gains. Perhaps I did the gain on the house wrong, I only had a few months (I think it was 5) that were chargeable.

Not feeling good at all about Section 2 now!

vnoo

Hi all
i also got just over 3k capital gains, i done car exempt and on the house and only 5 months chargeable, but then deducted the 3000 capital loss b/f which didnt leave much capital gains liability i think it was £33 pound something !
i was dreading PPR coming up in the paper, i get confused with working out the months.
i had 280 months total and ppr for 275 months.
As for the running cost, i just deducted that from the benefit and didnt worry about the running cost part !!