Personal Tax - Help needed

jon200
jon200 Registered Posts: 6 Regular contributor ⭐
in AAT Level 4 (Level 8 in Scotland)
Hi guys,

I'm really struggling with Personal Tax, every single section of it and i was wondering if anyone had any tips or materials which may help me understand it and commit the various rules and methods to memory?

I'm studying using BPP study books, and i don't find them helpful at all.

Any advice is greatly appreciated.

Thanks

Comments

  • Daz1865
    Daz1865 Registered Posts: 67 Regular contributor ⭐
    Well I will try and help, but perhaps you could give me a starting point. Have you read through the book? I think it can be a bit overwhelming to see the whole tax computation, so you need to break it down into smaller pieces and try and understand each line / number.

    I guess I would break down the syllabus into four broad areas. Employment income, investment income, property income and Capital Gains Tax. Try and learn the individual rules for each section first. It gives you a strong foundaiton to build on and to answer questions.
  • jon200
    jon200 Registered Posts: 6 Regular contributor ⭐
    Hi,

    I have read the book, and tried to break it down into the individual areas you have mentioned, but no matter how much i do i cannot seem to commit anything to memory.

    If i leave my books for a day and go back to them, i can't remember anything at all. Really frustrating.
    Capital Gains Tax if anything is the one i am having most success with.
  • rwb
    rwb Registered Posts: 32 Regular contributor ⭐
    Hi jon,

    I'm studying for this one at the moment too and I'd say take a look at the practice assessment on the aat website, you are given the rates and bands etc in the exam so don't beat yourself up trying to get every rate memorised try to work through the chapter activities and remember to gross up savings and dividends etc. (which I keep forgetting).

    Got my exam in a couple of weeks so fingers crossed for both of us!
  • clegganator
    clegganator Registered Posts: 184 Dedicated contributor 🦉
    Howdy,

    I work with personal tax anyway so I've had a bit of background knowledge but I've found the way the Osborne books set it out quite easy to digest. It breaks it down roughly as the following

    1. General overview
    2. Savings, investments etc.
    3. Property income
    4. General Income
    5. Computation

    It has chapter summaries, questions at the end of each section and there is an additional workbook that you can purchase. If BPPs books aren't proving all that helpful it might be a worthwhile option as they are fairly inexpensive new, approx £20, and you might be lucky enough to get a second hand one on the cheap!

    More than welcome to try and offer any more help but just break it down into sections.

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