PTC - AAT Are you listening??
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Looking at all the comments in the forum it seems we've all made similar errors. I found the paper VERY ambiguous in places, where it wasn't clear what you should do, i.e. the £1250 on the Rental income was iot one or two lots and if only one lot where did it go on the tax return? The pension on part one, was it a legitimate pension scheme that can be deducted? Was the Proffessional body approved as well? We were taught that if it doesn't say ignore it? <BR><BR>Our lecturer had told us to revise June 04 PTC exam and make sure we were well up on that, that advise had come from the examiners meeting they had a few weeks before. So I memorised Chattels and PPR which were the two biggies in the June 04 paper and neither of them came up at all.<BR><BR>I hope that AAT read these comments and take all this into account when marking the paper because if they don't I'm sure I've failed!!<BR><BR>We went out straight after the exam about 11.15am and I didn't come home till 6.30pm so needless to say I had a few beers and now PTC is all but a memory it turned a bad morning into a good day and a very blurry night.
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PTC - AAT Are you listening??
I sat the PTC exam with around 40 others. Half hour into the exam we were interupted by the invigilators (who had been asked by a student to find out whether the indexation allowances were correct.) Out went a person to phone the AAT and it wasnt untill 15 mins later and two other disturbances that the AAT confirmed that we were to just use the information as given. I think there has been a big mistake made because it seems that most students have found the questions ambiguous. I hope that the AAT takse all this into account when dishing out the marks!<BR>J0 -
PTC - AAT Are you listening??
Yes it was very ambiguous and confusing.<BR><BR>My tutor also went to the examiners meeting and came back and told us to revise the previous two papers and the AAT Specimen Paper. <BR><BR>So I think your tutor may not have given you 100% correct advice.<BR><BR><BR><BR>0 -
PTC - AAT Are you listening??
I thought the exam reasonable.<BR><BR>I, too, was puzzled by the £1,250 'rates and repairs' but like others, just used it as 'rates' (it didn't say '£1,250 each'). I assume this was a typo-type thing, in which case, I am sure the markers will use their common sense in scoring this. It doesn't affect the essence of the question, or the answer really as the tax payer stays below the earnings threshold anyway one way or the other. I think you get marked on your own figure so if you have brought forward the answer you arrived at in task 1, then you should get full credit.<BR><BR>The 1984 shares indexation thing: I assume this is because the pool is based on the Finance Act of 1985, therefore things up to 1985 had to be indexed up to that date...? I thought it would be logical to index the shares from 1984 to 1985 and then index the new sum again, I don't think it really affects the question outcome and I'm sure it won't lose us competence marks if we were incorrect in the application. I think the answer would still be round about £100 CGT to pay whichever way you calculated this particular indexation, however, well done, that candidate and invigilator who rang up AAT. <BR><BR>Thank you, Mr or Ms. Examiner for an otherwise straightforward - almost enjoyable (ha!) - paper. After the business tax one, it was very kind, I thought, almost basic.<BR><BR>0 -
PTC - AAT Are you listening??
this is the first paper I have done at technician level, and I thought the same as you as regards indexation etc, but carried on regardless as obviously we are all doing the same paper and all will be confused at the same point (remember Junes costing paper at Intermediate level).<BR>Im sure the general working out of things will be OK if you followed through regardless. <BR>I also thought the paper very reasonable and better than I expected (I too revised PPR, limited gains etc).<BR>Glad its over now (was the business tax paper that bad?). So happy xmas!!0 -
PTC - AAT Are you listening??
I dont understand what the fuss is. First of all i thought the PTC paper was fine and as for the indexation allowances, whats the fuss all about?? The aat arnt going to mark the paper wrong if their indexation workings are wrong!!!<BR><BR>At the end of the day, if you put the work in and fully understood Tax, its not that hard.<BR><BR>Its quite obvious that the £1250 Rates and repairs was only one figure. I dont understand why people have to pick at things and make them seem harder then what they actually are!!!!!<BR><BR>From speaking to all my class mates, none of them struggled and we al thought the paper was actually straight forward and just needed COMMON SENSE!!!!!!!!!!!!!!!!!!!10 -
PTC - AAT Are you listening??
Share Pools actually commece in 1982 - it is confusing when it is referred to (quite correctly)as the "1985 Pool". Therefore the question was designed to include the 1984 figures.<BR><BR>Pre 1982 method (known as Cost and Value) is in the "Old Standards" syllabus but not in the new. <BR><BR>0 -
PTC - AAT Are you listening??
Here here! I was just starting to think...what are they all going on about??0 -
PTC - AAT Are you listening??
I too sat the PTC paper in this sitting - along with the BTC paper. Both - thankfully - were a lot easier than I had imagined they were going to be - thank god Principal Primary Residence didn't come up or I'd have spent the whole three hours trying to work out the exempt period for capital gain purposes!!! Needless to say - you use the information in the paper - if the indexation figures they have given are wrong it shouldn't affect our marks as we used the info given. I must admit - the Rate and Repairs bit threw me a little - so I split it 50/50 between the two relevant boxes. The end result will be the same and if they mark me down for it that's their choice.<BR><BR>Hopefully these will have been my last 2 AAT exams - fingers crossed. Good luck to all you guys...<BR><BR>And just out of interest - how long did it take everyone? I went in with a stinking cold - did the paper and was out within an hour and a half - I couldn't hack it any longer!!!<BR><BR>Laura0 -
PTC - AAT Are you listening??
I could have done the whole paper in an hour and a half but I made a total mess of the FA1985 Pool question - I overlooked the pool and just started calculating the gains/losses on the individual transactions! This was despite me writing FA 1985 Pool clearly at the top of the question during the 15 minutes reading time!! Luckily I did realise my mistake and then re-did the whole question. After I finished all questions I went for a toilet break, washed my face went back into the exam room and then went through the answers and checked some calculations. So I left after about 2 hours. At that time there were maybe 10% of people still left in the room.0 -
PTC - AAT Are you listening??
I took well about an hour and a half for the whole thing including checking back through it and checking my calculations. My friend finished at the same time. Some people finished earlier. Havent spoken to any other classmates yet to see how they did. If the business tax is the same in June, I will be happy.0 -
PTC - AAT Are you listening??
I sat the business tax this sitting and it wasn't too bad in all honesty. I work in a small practice and don't really have much to do with LTD co stuff - we have a guy "in house" that does most of it... But I worked through the text book and all the paractice activities and past papers and it wasnt too nasty on the day - I'm sure you'll be fine - good luck!<BR>Laura0