Personal Tax Exam

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
These are the answers I got - how does everyone else compare?

1.1 £6060 BIK
1.2 £42035 Total Taxable Amt
1.3 £1130.10 Tax Liability
1.4 £1200/£300 Sofa Bought/Loan

2.1 £17295.36 @ 75% - Mint Shares
2.2 £19530 @ 90% - Sweet Shares
2.3 £29506.66 @ 75% - Land?
2.4 £36978.52
2.5 £13102 Sch A Income
2.6a £1596.14 Income Tax Liability
2.6b £10312.81 CGT Liability

Some of those don't seem to make sense, reading back, but I can't remember all the questions... Don't know what 2.4 was at all..

Thought in general was a very nice paper, the written bits were pretty generous, especially the car one..

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Personal Tax Exam
    DiamondGeezer wrote:
    These are the answers I got - how does everyone else compare?

    1.1 £6060 BIK
    1.2 £42035 Total Taxable Amt
    1.3 £1130.10 Tax Liability
    1.4 £1200/£300 Sofa Bought/Loan

    2.1 £17295.36 @ 75% - Mint Shares
    2.2 £19530 @ 90% - Sweet Shares
    2.3 £29506.66 @ 75% - Land?
    2.4 £36978.52
    2.5 £13102 Sch A Income
    2.6a £1596.14 Income Tax Liability
    2.6b £10312.81 CGT Liability

    Some of those don't seem to make sense, reading back, but I can't remember all the questions... Don't know what 2.4 was at all..

    Thought in general was a very nice paper, the written bits were pretty generous, especially the car one..


    sorry to say this, but i how the heck do you remember your answers!!!!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Personal Tax Exam

    Most of them I remembered, the longer ones I jotted down on my hand.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Personal Tax Exam

    hey, how come u kept all numbers in mind.
    never mind mine as follows:
    section 1 - 1,130.10 for Income tax
    section 2 - 1,596 for Income tax liability
    section 2- 10,265 for CGT liability (i think our difference might be on Taper relief calculation).

    fingers crossed and wish u the best all.

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