ATT paper 7
noodles
Registered Posts: 308 Dedicated contributor 🦉
How did people find this paper, is it as hard as the other papers in ATT, do you recommend it be taken as a separate paper or can it easily be fitted in with paper 1. I am sitting paper 5 in May so will only have paper 1 and 7 left, just about to order the text books for the next sitting in Nov but need to make that decision.
I am enjoying all this learning but i will be so pleased when it is all over and i get to hang the final certificate on my wall and get my new stationary printed.
I am enjoying all this learning but i will be so pleased when it is all over and i get to hang the final certificate on my wall and get my new stationary printed.
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Comments
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If P7 is the ethics one, I think it depends whether you find the topic easy or not. I know some people think it's really easy (and in theory it should be) but I looked at a past paper and these types of questions really bake my noodle, so i am going to tackle it last, I'm doing Personal Tax on 4th May (argh!) and VAT in November and ethics next May. I really wanted to get it all done this year but i think that mit be asking too much of myself. I will see how theVAT studying goes though, I would still like to do both in Nov if I can. Good luck for May!0
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I chose to do this in November with Personal tax. I thought it would be relatively 'easy' incomparison to learning all the tax related stuff that goes with personal tax... however... in my opinion I am finding it hard. There is an awful lot to remember and I'm unsure my brain will take it all in. It's quite short text wise in comparison to personal tax (which is the only other unit I have knowledge of) so I shall probably be able to do it by November but I just a) don't enjoy it and b) currently aren't remembering very much of it!
I shall be glad to get it out of the way though!
Sarah-Lou0 -
SarahLou,
I am doing P Tax and am loving being able to take the tax statutes into the exam with me - I can take most of the answers in with me, I just need to know where to find them and how to apply them.
Is it not a case of highlighting all the rules for deadlines and penalties etc and looking them up in the exam? Then all we need to remember is the ethics stuff. It would be really good to know if that's feasible as then I can decide whether to take P7 in Nov along with VAT or leave it til next May.0 -
I like many others thought unit 7 would be fairly easy due to the size of the study texts but i definatly found it harder than personal tax because there is a lot to remember and your not working with figures like you are with the others which id imagine a lot of accountants find easier. If i remember correctly out of the 7 units only the business tax units had lower pass rates than unit 7.
Whilst i did unit 7 on its own i would think it is certainly possible to do it with another unit because i did business tax higher skills and personal tax at the same time and i think business tax higher skills was the hardest exam by far. The main thing i think people need to consider is home much time they can devote to the papers. Every year people take and pass all 4 exams in one sitting so 2 is certainly possible if you give the units the time they are going to need. (granted the people who sit and pass all 4 in one go are likely to be very smart though).
With regards to using the statutes i found i never used them because especialy for unit 7 the things i didnt know wouldnt have been in them anyway. A lot of the exam is ethics based and things like penalty rates etc are the basic so you are likely to know these anyway.
Maybe do a timed practise exam and see how much time you have to look things up? I did see people who seemed to look things up very quickly in the exam but im not sure it would be good to rely on this for a lot of information.0
