Business Tax

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Craig9
Craig9 Registered Posts: 69 Regular contributor ⭐
in AAT Level 4 (Level 8 in Scotland)
Started this in college about three weeks ago and we have went over adjusted trading profit and capital allowances for the first part of the company corporation tax computation, the latter could have a two hour exam on its own there is that much involved in it. Obviously there will only be one or two adjustments and capital purchases/disposals in the exam.

Is the general vibe from folks who have done CBA's and the old paper versions that this is the hardest unit in the course?

I definitely feel it's a big step up from personal tax and the two main units of Budgeting and Financial Statements were not too different from last years papers. I also have financial performance to do but I can't help but feel i'm going over the Budgeting book again but with a different name, so again I'm not too stressed about this paper.

I would also add that I think the CBA's have been far easier than the old paper based Technician style where I have looked at these for revision purposes, does anyone feel this de-values the qualification in any way?

What are peoples thoughts on these topics? (Business Tax and the new 'easier' CBA's)

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  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    Technician exams done in 2006 here.
    Craig9 wrote: »
    Is the general vibe from folks who have done [...] the old paper versions that this is the hardest unit in the course?

    I definitely feel it's a big step up from personal tax

    Yes, and Yes! No argument from me there.
    Well, ok I will argue, I struggled with Technician Costing (mainly variance analysis) terribly, and I find tax easy, but there is definitely a lot to learn and I think overall people would say BT is a hard module.
    I would also add that I think the CBA's have been far easier than the old paper based Technician style where I have looked at these for revision purposes, does anyone feel this de-values the qualification in any way?

    Having watched my bookkeepers going through CBAs I don't think they are easier. Partially that's cos they are the guinea pig year and have suffered the teething problems. There is definitely a different feel to them but as to whether they devalue the qualification - I guess time will tell but my gut feeling is no.
  • kimmie1986
    kimmie1986 Registered Posts: 39 Regular contributor ⭐
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    ive not even started business tax yet ooops lol i will have a look at it this weekend, i do agree about financial performance it is just budgeting again which i really did not like at all.
  • Paisley
    Paisley Registered Posts: 93 Regular contributor ⭐
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    I am currently studying level 4 and have sat three CBAs so far. Last year I did level 3 as an NVQ, so I had skills tests and paper based exams. I do agree that the CBAs have a different feel. The questioning seems to be more random, unlike the paper based exams which used to have a flow.

    I hope my qualification will not be looked down upon because I sat CBAs this year and not paper based exams. I, like my fellow students, am still putting in many hours of study each week in order to cover the criteria, whether a certain type of question comes up in our CBA or not.

    I would be disappointed if all this hard work, time and money was spent in aid of a de-valued qualification.

    I can't comment on Business Tax just yet, as I'm saving that one until last! I've heard that there's a lot to learn.
  • Jonno1
    Jonno1 Registered Posts: 63 Regular contributor ⭐
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    I'm a bit worried, looking at previous posts on this topic I get the impression that there is a lot to learn for business tax, and that it is generally thought to be a hard paper. However I have a good long term memory (once the stuff is in), I enjoy learning and am very numerate. I am teaching myself at the moment and hope to sit unit 11 DFS mid-April and hoping to start work on Business Tax computations soon afterwards for an exam/CBA in mid-to end June. Would I have enough time to cover the work, say perhaps studying for 5 hours a week/2 evenings per week plus revision? Also I've bought a 2008 textbook on the subject on ebay, would this still be relevant, or would I need to update with recent tax changes in the budget?
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    Paisley wrote: »
    I hope my qualification will not be looked down upon because I sat CBAs this year and not paper based exams.

    It shouldn't be. I can't see the AAT investing time and money in the new exam structure only for it to de-value the qualification. CBAs are different (and progressive) but they are still bloomin' hard work (I don't need to tell you that ;)) and personally I don't view the qualification any differently, its just evolution I guess.

    Jonno,

    If Paisley and her class can do a mere 3 weeks learning personal tax and then sit (and pass, congrats!) the CBA the following week, you can do B-Tax in 2 months :-)

    You will need the relveant tax book though - 2008 will cover most of it but there have been some important changes as well as the budget updates. also with the new exam structure it looks like the syllabi have changed a fair bit.

    It's a hard paper - but then I don't think it's any harder than some of the others, it depends what type of brain you have/ whether tax makes sense to you. All you can do is try it and try your best!

    There is a bit of crossover between personal and business tax, as the two are inextricably linked.

    Good luck all!

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