Business Tax FA2016


I recently had my Business Tax exam booked for this week but have now had to rearrange it until January. I have been using the Osborne books for FA2015 as believed that would apply to the exam I was booked for. However, now I have amended the exam date I understand the exam would be based on the FA2016.

I am teaching myself so do not have any tutors to go to for advice, but is studying the FA2015 going to cause me problems for the exam? I thought as long as I had the information that is provided in the exam on new allowances/rates etc then I should be ok but would only be in trouble if any of the principles or rules change also?

Any help anyone could give would be appreciated?


  • Hahmed
    Hahmed Registered Posts: 27
    Hi Cooks do you have a pdf copy of the business tax fa 2015 books. I really need to get a copy as I have my exam in Jan.
  • sue2011
    sue2011 Registered Posts: 6
    Hi guys
    please can u help me

    task 11b of the AAT assessment - the answer comes to £550,000 - is anyone able to show me the workings as I could not work this one out?
  • Charlie1701
    Charlie1701 Registered Posts: 14

    This is someone else's working out.....

    sue sold a business in July 2012 and made a gain 7500 000, in February 2017 she sold another business making gain of 4 000 000 , neither of these business are residual properties
    sue used her annual exempt amount on her capital disposal .the amount of capital gain tax that sue will pay on the disposal of business in February ?
    many thx Bertie
    Is there more to this question?

    If Sue has used her AEA on another capital disposal -
    You minus £7,500,000 from the upper ER limit leaving you, £2,500,000
    £2,500,000 left of the ER lifetime limit.
    This is taxed at 10% which gives £250,000

    Remaining 1,500,000, (which is £4,000,000 minus £2,500,000) is taxed at 20% as non-res £300,000

    Therefore £250,000 + £300,000
    Total £550,000

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