BTC Workbook answers - ch 3 - q 3.4 and 3.5

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Ben C
Ben C Registered Posts: 3 New contributor 🐸
in AAT Level 4 (Level 8 in Scotland)
Hello,

I cant seem to find my answers for the BTC workbook exercises. Can anyone tell me the answers to questions 3.4 and 3.5, it is so frustrating not being able to check them.

Thanks:confused1:

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  • Ben C
    Ben C Registered Posts: 3 New contributor 🐸
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    short CAPS

    In particular i have one query. When dealing with a short CAP say 10 months, you would still multiply the IBA and WDA by 10/12, is that correct?

    Much like you would if you had a 16 month CAP where you would have a full 12 month IBA and WDA for CAP 1 and then 4/12 for the IBA and WDA for the second CAP. Is this also correct?

    Thanks
  • Nina Daniels
    Nina Daniels Registered Posts: 4 New contributor 🐸
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    i am on the same questions 3.5! Let me know if you find out the answer thanks nina
  • jilbo
    jilbo Registered Posts: 197 Dedicated contributor 🦉
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    Yes you're right, you should time apportion the WDA and IBA for the short CAP.

    Sorry but the answers are too long for me type in but I coud fax them if you send me a fax no by PM. (Not lazy honest just busy revising!) Alternativley I could just give you bottom line but not the workings.

    Good luck Tuesday!!
  • Ben C
    Ben C Registered Posts: 3 New contributor 🐸
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    hiya, just the bottom line would be fine cheers!

    and if its no trouble could you also give me the bottom line for 7.4 and 7.5 in BTC? cheers
  • jilbo
    jilbo Registered Posts: 197 Dedicated contributor 🦉
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    Sorry Ben I've only just seen your post, I can give you the bottom line answers no problem but I'm afraid I'm at work and the answers are, yes you've guessed it, at home!

    If it's not too late I'll post them when I get home, sometime after 5pm.

    Good luck for tomorrow.
  • Tanveer H
    Tanveer H Registered Posts: 4 New contributor 🐸
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    hi,

    if anyone needs the answers to the BTC book or practice papers, then pm me your email address and i will send them to you...


    regards
  • jilbo
    jilbo Registered Posts: 197 Dedicated contributor 🦉
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    Ben if you haven't already got them here are the answers you required:

    3.4 Year End 31.12.07 CA £20,000 and IBA £8000 Trading Income ££356,000
    3 mths to 31.3.08 CA £15,375 and IBA £2000 Trading Income £78,625

    3.5 Trading Income Assessment £252,291

    7.4 07/08 Alice £46,800, Bob £45,600, Colin £7650
    08/09 Alice £48,600, Bob £43,200, Colin £16,200

    7.5 Adjusted Profits £59,400
    Trading Income Asessment £15,800
    Class 4 NI £846
    Tax Return 4.4 31.11.07
    Basis period 1.1.07 - 31.12.07
    4.7 £19800
    4.9 £4000
    4.10 £4000
    4.13 £15,800
    4.20 £15,800
    4.22 £15,800
  • laurenw
    laurenw Registered Posts: 42 Regular contributor ⭐
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    Good luck to everyone going BTC tomorrow, by the sounds of the PEV exam today were gona need it!!!

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