Business Tax Exam

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Spamkebab
Spamkebab Registered Posts: 233 Beyond epic contributor 🧙‍♂️
Hi gang,

Got the exam tomorrow and just running through the practise CBTs. Did any of you who have
already taken this exam find it similar to the practise exams? were there any surprises?

There is a lot to remember for filling tax returns, i remember concentrating on this for Personal tax only to be given 4 figures to enter in the real exam.

Not helped myself this morning by logging into and partaking in a 2012-2013 practise CBT on the AAT website. I nearly died when things didn't add up lol.

Cheers for any info,

Neil.

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  • Whirlwind
    Whirlwind Registered Posts: 249 Beyond epic contributor 🧙‍♂️
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    Hey,

    All the very best for tomorrow!!

    Although I passed this, my feedback said I wasn't great on capital allowances. I found the questions abit ambiguous. I was my very last AAT exam, and the third of the two optional units, so I think I chillaxed abit too much!!

    Let us know how you get on!!
  • EmmaS
    EmmaS Registered Posts: 7 Regular contributor ⭐
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    Hi Neil,

    How did the exam go? all good i hope. I have mine tomorrow and was wondering the same things as you.

    I have been doing all the practise papers too, is it pretty similar?


    Emma
  • Spamkebab
    Spamkebab Registered Posts: 233 Beyond epic contributor 🧙‍♂️
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    Hi Emma, pretty similar to the practise CBTs. I expected a calculation of capital allowances and shares and got both. The rest was just a muddle of short little gap fill answers really. Nowt special, though this doesn't mean i'm going to exceed in all part lol, i''l be happy with a pass.

    A bit ambiguous indeed Whirlwind, But as far as i'm concerned this is just the AAT exams full stop lol.
  • EmmaS
    EmmaS Registered Posts: 7 Regular contributor ⭐
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    Hi Neil,

    I'm glad it went well for you. Yh I was expecting something on shares and capital allowance as that was in all the practise papers.

    One of my weaknesses was the dates things had to be in by, but been going over them and am getting better with it.

    my exam is at half 1, is there anything that you would suggest brushing up on just before?

    Thanks

    Emma
  • Spamkebab
    Spamkebab Registered Posts: 233 Beyond epic contributor 🧙‍♂️
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    Hi Emma, sorry i'm late lol

    I can only advise that you know your basis of assessment periods really.

    Oh and remember to check the length of accounts and periods, when sharing profits etc.


    Good luck for this afternoon.
  • EmmaS
    EmmaS Registered Posts: 7 Regular contributor ⭐
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    Thanks Neil, Sorry not been on for a few days finished the exam and started studying for personal tax straight away as have that exam next month. Need to finish my ICAS too. Have you started yours?

    Not sure how the exam went, the capital allowance and shares bits were fine but some of the other bits in section 2 i'm not too sure on. Will just have to wait and see. I hope it doesn't go over xmas.

    Emma
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