Personal tax 2012/13

JoeyD

Hi All.
I am hoping someone can help with revision idea's. .
I have been revising for personal tax exam and im finding the tutorial information
Overload.. I am trying to remember it all and worried I am missing key areas?

How did you revise and what areas did you focus on?

Thanks in advance
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LisaB

Hi ya,

I am currently revising for this exam to and finding it a bit of a nightmare. I am actually concentrating more on benefits in kind at the moment as I am finding this the hardest to get my head around. I have been working through the Kaplan workbook and taking lots of notes. For me personally repetition works well. I also use the Engage website which comes with the Kaplan material to do a practice assessments, the results are broken down in to percentages so I can clearly see which areas I need to work on.

Most of the rates and allowances are given to you in the exam so you don't have to try and remember them.

JoeyD

Yes thats the bit im struggling with too and remembering tax rates etc..
I am not with kaplan.. can I still use there tests online that you mentioned?
Only ever been on AAT.

Will be glad when I have ticked this onenoff
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Jo Clark

JoeyD wrote: »

Yes thats the bit im struggling with too and remembering tax rates etc..

Hello Joey

There are a couple of pop up boxes/menus in the actual exam with various information for the exam, such as rates.

Areas I personally focused on were the tax calc computations, shares calc and rules and completing the self assessment form.

If you look at the practice assessments on the AAT website you should be able to see these for yourself.

Good luck.


Jo

LisaB

Unfortunately I don't think you can access the tests on engage website as your not with Kaplan. Have you had a look at the green light tests on the AAT website they may help? I think every time I revise I find a new area I struggle with, even areas I thought I was doing well with. Now struggling with the Income Tax computation.

I just can't wait to complete Level 4 it seems never ending studying.

JoeyD

Yes found the green light tests didnt do that great on them so need to study
Extra on bits I think.

I feel like that too had a break after having my little girl so even harder
To study with her too lol.

Only have personal tax and financial statements left woo

Do you know what 5/3 means in CGT and how to work it out? Dont get
It at all.....

Xxx

Nps

The below link will explain it for you (look at step 4). It's all to do with ensuring you don't pay more CGT than is fair if you just fall over the threshold.

http://www.hmrc.gov.uk/cgt/possessions/calc-cgt.htm

CeeJaySix

Can't help you with the revision, but Osborne do some free online tests as well...

http://www.osbornebooks.co.uk/aat_accounting_qcf