Business Tax CBT

jamdorj Registered Posts: 2 New contributor 🐸
Did my CBT last Saturday, thought most of the questions were slightly twisted and a bit vague, especially in Section 2 but can't remember the questions though. I guess it's 50/50 for me. Anyone remember any of the questions?


  • spursfan323
    spursfan323 Registered Posts: 28 Regular contributor ⭐
    I believe the multiple questions, at least, are chosen from a great big pool of questions, so it may be unlikely to find someone else who had the same questions as you.

    Having said that, I thought my Section 2 was quite decent. Surprisingly, there was a Share Pool question for a sole trader not a Company - so no indexation to do. There was a marginal relief question with an associated company and a 9 month period so had to divide the MR by 2 and 9/12. Admin dates were also surprisingly easy - POA's for a sole trader. Cant remember much else.

    Section 1 was a little trickier as i found the questions tended to focus on the more obscure parts of the syllabus. So I had no question involving computating basis periods, but i did have a multiple choice asking if 'Overlap profits can create a loss' (which as far as I can see, doesnt seem to be anywhere in my Kaplan textbook.) I guessed Yes. There were also some multiple choices re Badges of trade. But they were basically common sense - i think anyone could have got the answer to 'The increased frequency of a transaction makes it more likely it is used in trade. True or false'

    Overall, i expected a far more challenging paper. Took me 1.5 hours and that's with being overcautious and checking every answer twice.
  • jamdorj
    jamdorj Registered Posts: 2 New contributor 🐸
    Now that you've mentioned some of your questions it seems to have jogged my memory a bit, my share question was based on a self-employed with a 'bought within 30 days' scenario, so I had to do two computations and a sharepool working which was fine, the questions that did confuse me were something like,
    1) Mike sold a shop he owned for £800000, what is his profit before annual exemption??
    2)The second question was also similar to that "John sold a flower shop he owned for £300000 in March 2009, he sold another shop for £400000 in June 09 , Calculate his profit for the year 09/10? I just didn't know whether I should be calculating any reliefs or just deduct the annual exemption for the year, that's why I mentioned the questions were a bit vague.

    Even the first question on section one where I was expecting "revenue" or "capital" were different. It was lsometing ike "Capital asset can also be defined as an asset not intended for resale, true or false.
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