# Sample Assessment 2 help needed please

darren100
AAT Student, AATQB Posts:

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Task 3 the answer under staff parties says 100 under foday's total employment income but i though staff parties is a non taxable benefit up to £150 a head so surely the answer should be 0 if the party cost the employer £120 per employee

also task 6 james total income tax liabilities it says his income from employment is 14,500 but looking at the answers it says it is now 14,000 not 14,500 not sure why this would be

and finally if anyone knows how you work out task 9 (b) Celia brought 20 acres of land for £45,900 in the 2016/17 tax year,she sold five acres for £50,000 and the remaining acres were valued at £400,000

calculate the gain on the sale of the land the answer is 44,900 not sure again how you get to this answer

Any help on any of these questions would be appreciated

also task 6 james total income tax liabilities it says his income from employment is 14,500 but looking at the answers it says it is now 14,000 not 14,500 not sure why this would be

and finally if anyone knows how you work out task 9 (b) Celia brought 20 acres of land for £45,900 in the 2016/17 tax year,she sold five acres for £50,000 and the remaining acres were valued at £400,000

calculate the gain on the sale of the land the answer is 44,900 not sure again how you get to this answer

Any help on any of these questions would be appreciated

## Comments

1316Can't see why 'income from employment' has changed from £14,500 to £14,000 unless we're both missing something!

1316376Part disposal.

Proceeds

£50,000Less costs (£45900 X £50,000 / (£50,000 + £400,000))

(£5100)Gain

£44,9001316161316That gives a chargeable gain of £14,500. Then deducting the annual exempt amount of £11,100 it leaves £3,400 that is subject to capital gains tax.

Because Donna has £30,000 of other taxable income she has £2,000 left in the basic rate band.

So the first £2,000 of the £3,400 is at 10% basic rate capital gains tax = £200

But the last £1,400 of the £3,400 is in the higher rate band so is charged at 20% = £280

So the total is £200 + £280 = £480

That's my take on it anyway.

3761316131616131637616I think you've misunderstood. The question/answers to task 6 are incorrect. Darren's college believes so and so does my tutor. I was just interested to hear what AAT had to say about it.

376Why not post the question? I guarantee you'd get a faster response from someone who actually deals with tax, day in, day out.

This is why I've mentioned previously - post the actual question. If you don't post the question you're narrowing it down to who CAN answer due to the fact that only students can see the question you mention.

If you're happy with that cool. But folk like me, folk who have been there and 'done that' have the experience to answer the question.

Up to you guys as students. But take the most of what you can from your audience.

16I've also sent a private message to you Bertie with the links in.

I tested them and they work without being logged into the AAT site.

131613We have just started credit management a few weeks ago which seems a lot worse than personal tax to remember

16I'm studying Business Tax now - it's pretty tough but having studied Personal Tax has definitely given me a head start I think.

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