BTC Exam....

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System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in General student discussion
Someone please send me some PMs of the answers they got today, I'm worried i've mucked loads of it up..

Anything you can remember would be amazing!

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  • System
    System Posts: 100,534 🤖 Admin 🤖
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    Re:BTC Exam....

    Assume we can discuss now.

    Can't remember specific answers but here goes.

    Section 1

    80% private so Car WDA was £600 in CAP 1
    No WDA or FYA in CAP 2. I included FYA :(

    I had a balacing Charge on Main Pool and a Balancing Allowance on the Car - only 20% of Car BA can be claimed. Overall Charge.

    Tapered my Chargeable gain at 25%

    Talked about Badges of Trade

    Section 2

    Capital loss of £3000 - no indexation.

    IBA based on £78K - I think. I excluded land and legal fees re land. Then 4% - not time apportioned to 10 months.

    Split PCTCT in 8 months and 4 months (i initially did 9/3 and had to re-do most of it)

    Time apportioned the upper limit in the £50K band to £33333 and then used the MMR fraction (19/400) on the 2005 tax yr. 2006 yr = 19%.
  • System
    System Posts: 100,534 🤖 Admin 🤖
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    Re:BTC Exam....

    I really have messed up on this too,
    I remembered to time apportion 8/4 but I forgot to time apportion the upper limit,

    Also, I gave fya on the second question in section 1, and I think I got the balancing allowances and charges the wrong way around.

    Looks like i'll be resitting for the 3rd time!!!
  • System
    System Posts: 100,534 🤖 Admin 🤖
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    Re:BTC Exam....

    The inclusion of FYA will only account for one error despite it having a knock on effect - i hope :shock:

    I crossed through most of the tax calc as i originally did 9/3 so mine was a mess but it was correct in the end. They might penalise me a bit for presentation.
  • System
    System Posts: 100,534 🤖 Admin 🤖
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    Re:BTC Exam....

    Oh well, hope you pass, this was my final exam, so was hoping to get through it, but don't hold much faith, plus it could be another 2 years before I can resit this.
  • System
    System Posts: 100,534 🤖 Admin 🤖
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    Re:BTC Exam....

    Hi all :)

    Does anybody know what the pass mark is likely to be?? I know that there is no exact figure but i am just worried and i need some reassurance..

    How did you find the paper, otherwise?? I managed to do all the questions but i must admit that it was slightly tricky.

    What about the ''shares'' part?? Was there any time apportionment for basis period?? :?:

  • System
    System Posts: 100,534 🤖 Admin 🤖
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    Re:BTC Exam....

    Getting a bit cloudy now but wasn't that the gain that was indexed to 98 then tapered by 25%? No time apportionment I don't think.
  • System
    System Posts: 100,534 🤖 Admin 🤖
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    Re:BTC Exam....

    I've made a few simple errors on this that i don't usually make.. Hopefully i will scrape through by the skin of my teeth.. Fingers Crossed!

    Hope i've got everything else right apart from the silly mistakes i made!

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