Indirect Tax CBTs

angmc

Hi

I've just been looking at the CBTs for Indirect Tax, one of them says CBT1 FA2012, the other two just say CBT & CBT2, I was just wondering which are the current one(s)?

Also I've noticed on the VAT Return questions/answers on CBT1 FA2012 in boxes 6-9 the figures have been rounded down to the nearest pound (i e the pennies knocked off) whereas on the other two the figures have been rounded up to the nearest pound. I was of the opinion you round down?

Any thoughts would be appreciated.

steve2008

The 2012 one is the older one, with older reference material.

Isn't there a note on the right hand side of the answer to that question which says something like
"For the purposes of this exam rounding down or up is both acceptable." ?

angmc

Ahh so there is, didn't notice that.

Thanks steve2008.

Devlin

Is the CBT1 FA2012 not the new one, as it includes the most recent material, and the other 2 CBTs include the out of date reference material.

angmc

Yes it does look like the FA2012 one is the new one but I don't suppose it matters for practicing purposes?

Devlin

No I don't think it will matter at all, it'll be good to do all three for exam preparation. Only thing that could go wrong was if you remembered and used some of the old details for the actual exam instead of using the current data. But that's probably not very likely.