Im kicking myself for that CT calc all the past questions have only had 1 associate i think so you half the limits to 750k and 150k but because this had 2 associates i halved the limits again instead of dividing by three. I think ive done ok on the rest of the exam would i still pass with getting this wrong?

Hey! I did the exam today! Took me ages on the CT due task.. Left it for 5 mins then went back and remembered i had to also time apportion the bands as well as divide them by three!! Hope everyone else did this?! It ended up looking a slight mess! x

does anybody no if they operate a negative marking system in these exams?

I read somewere that if you write just the correct answer you will get more marks than someone who writes the correct answer but puts some unnecessary stuff in the answer. Think i read that duno if its true

Totally gutted never time apportioned and messed up on the penalties in the email. Did everything in second section right tho. do ya think this is enough to show incompetence??????

Oh god, didnt think id done too bad but now i think i failed!!

I Didnt do anything with Emilys salary!
I forgot deduct indexation and forgot to deduct the loss!
I didnt do anything with the leased car as I couldnt remember the formula!
I didnt apportion the tax over the 2 years!

Ok, so best not throw that book away just yet :crying:

Totally gutted never time apportioned and messed up on the penalties in the email. Did everything in second section right tho. do ya think this is enough to show incompetence??????????

Ment everything else in the section oh man cant believe I missed it!!!
Suppose it does show you know what ya doin, just not that you can read the question right aaarrrgggghhh

I felt I did alright until I read this! I divided my upper & lower limits on my marginal by 2 and not 3! What a plonker. I'm so used to the past papers having 2 associated companies I most likely didn't read the question correctly!

I was struggling with this before the exam and am still struggling now! I'm not looking at my revision notes coz it'll make me feel worse! Hopefully they'll see that I kind of know what I am doing.

To answer an earlier question, I believe that it is positive marking, after going through the marks of a past paper with our tutor Karen (the chief examiner) seems fair.

Dont worry too much I think if you have done the correct treatment of what you were doin even if you did miss a couple of things as long its right it shows your competent in doin the calculations just not reading the question. Plus looks like quite a few have missed it too so sure they will take that into account. xx

I didn't think it was a bad as it could have been, the lease car and part disposal of land threw me, certain i got these figures wrong but i am farily certain i processed them correctly only time will tell.:001_unsure:

Now have to revise for PTC on Friday then wait until August, but will start studying for DFS in December then only skills tests to complete and project.

whats the lease car thing I cant see it in the osbourne book?
Thought you were allowed leased things as long as you disclose them, like hp interest? Or am I wrong?
Thats another thing Ive got wrong then im supposed to be starting ACA in Sep :crying:

I honestly havent the foggiest this is the first ive heard of it, I wouldnt worry it shouldnt carry much weight at least you noticed that two straddle years xx

I wish in my book there was an example about marginal relief with associated & different financial year together, so I could know what to do.

Example you apportioned the band, what about the P and I?

In my book they leave the entire formula as it is and then they add the x 3/12 at the end:

1/40 x (1500000-331000)x 295000/331000 x 3/12

(please note that those above are not the exams figure!)

In my book (Osborne) there is also no example of business tax calculation with marginal relief, associated companies and different tax years.
but they always time apportioned if there are two different tax years or the year is shorter then 12 months.
They time apportioned PTCTC, Income and tax bands as well.

In my book (Osborne) there is also no example of business tax calculation with marginal relief, associated companies and different tax years.
but they always time apportioned if there are two different tax years or the year is shorter then 12 months.
They time apportioned PTCTC, Income and tax bands as well.

In mine not! therefore I thought it was enough put the x 3/12 at the end, I think you should get the same result? tomorrow I will try different methods, now revising for DFS :001_unsure:

I suppose you should get the same answers.. does not matter if you time apportioned every single figure separately and then calculated the marginal relief or calculated the marginal relief and then time apportioned...

I have noticed different approach in Osborne and BPP book.. from which book are you studying? Kaplan?

For the 3 months period I had
113.129 x 30% - 256 = 33 683

For the 9 months period I had
339 387 x 28% - 537 = 94 491

Tax 33 683 + 94 491 = 128 174

I got the same profit and PCTCT as you and also the tax liability looks familiar!!! Well I used the same calculations, maybe just rounding differences!! Fingers crossed

## Comments

814MAAT, AAT Licensed Accountanthowever my marginal relief were very little amounts...wondering if I did something wrong.

The upper limit is £1500000/3 companies = 500000 so in the marginal relief formula I use

fraction x (500000-P) x I/P

correct?

111RegisteredGreat!!! so we might be right.... :thumbup1::thumbup1::thumbup1:

111Registeredyou need to time apportion the band 500.000 (1500000/3) for 3 and 9 months

125.000 for 3 months

and 375.000 for 9 months

95Registered111Registered10Registered814MAAT, AAT Licensed Accountantaarrggh with all these apportions....didn't know I have to do it for the band too! I did put however the

/12x3at the result of the formula!hope I will only lose few marks....if I have to fail the whole exams for this, I will be so disappointed!!!:crying:

78Registered35RegisteredThe final question was indeed split 3, and 9 months, and then divided by 3 as there were 2 associated companies (3 in total).

I think I messed the dates up a little, but not too worried.

Best not to read about what other people got as you just worry. best of luck all.

2Registered78RegisteredI read somewere that if you write just the correct answer you will get more marks than someone who writes the correct answer but puts some unnecessary stuff in the answer. Think i read that duno if its true

8Registered2Registered112RegisteredI Didnt do anything with Emilys salary!

I forgot deduct indexation and forgot to deduct the loss!

I didnt do anything with the leased car as I couldnt remember the formula!

I didnt apportion the tax over the 2 years!

Ok, so best not throw that book away just yet :crying:

42Registered8RegisteredMent everything else in the section oh man cant believe I missed it!!!

Suppose it does show you know what ya doin, just not that you can read the question right aaarrrgggghhh

112Registeredthis and PTC are my last exams il be gutted if it drags it on for another 6 months!!!! :mad2:

2RegisteredI was struggling with this before the exam and am still struggling now! I'm not looking at my revision notes coz it'll make me feel worse! Hopefully they'll see that I kind of know what I am doing.

To answer an earlier question, I believe that it is positive marking, after going through the marks of a past paper with our tutor Karen (the chief examiner) seems fair.

Hope everyone gets a pass xxx

8Registered83RegisteredNow have to revise for PTC on Friday then wait until August, but will start studying for DFS in December then only skills tests to complete and project.

814MAAT, AAT Licensed AccountantExample you apportioned the band, what about the

P and I?In my book they leave the entire formula as it is and then they add the

at the end:x 3/121/40 x (1500000-331000)x 295000/331000 x 3/12(please note that those above are not the exams figure!)

8RegisteredThought you were allowed leased things as long as you disclose them, like hp interest? Or am I wrong?

Thats another thing Ive got wrong then im supposed to be starting ACA in Sep :crying:

111RegisteredI have added it up to Net profit as I thought that lease instalments are of capital nature so therefore disallowable...

8Registered111RegisteredIn my book (Osborne) there is also no example of business tax calculation with marginal relief, associated companies and different tax years.

but they always time apportioned if there are two different tax years or the year is shorter then 12 months.

They time apportioned PTCTC, Income and tax bands as well.

814MAAT, AAT Licensed AccountantIn mine not! therefore I thought it was enough put the

x 3/12at the end, I think you should get the same result? tomorrow I will try different methods, now revising for DFS :001_unsure:111RegisteredI have noticed different approach in Osborne and BPP book.. from which book are you studying? Kaplan?

Good luck for tomorrow...

814MAAT, AAT Licensed Accountantyep Kaplan....

thanks! can't wait it's over, sitting 3 exams this week, my head is exploding!

111RegisteredGood luck

22RegisteredI got the same profit and PCTCT as you and also the tax liability looks familiar!!! Well I used the same calculations, maybe just rounding differences!! Fingers crossed