# PTAX AQ2016 - HELP...

LouboutinLou1
Just JoinedRegistered Posts:

**21**
in Personal Tax

Hi Guys,

Can anyone help with the following?

Sample assessment 1 aat website

Task 8 (b) - the car percentage @ 7%. the answer is 224 but shouldn't it be 1309?

Sample assessment 2 aat website

Task 9 (a) - antique table - how is the answer 500? I keep getting 550??

Task 9 (a) - land - answer is 2500 but i got 2790??

Task 11 (c) - capital gains & losses - complete nightmare, is there an easy way to work these questions out?

I am also studying with Osborne Books.

Any help with the above would be much appreciated.

Many thanks,

Can anyone help with the following?

Sample assessment 1 aat website

Task 8 (b) - the car percentage @ 7%. the answer is 224 but shouldn't it be 1309?

Sample assessment 2 aat website

Task 9 (a) - antique table - how is the answer 500? I keep getting 550??

Task 9 (a) - land - answer is 2500 but i got 2790??

Task 11 (c) - capital gains & losses - complete nightmare, is there an easy way to work these questions out?

I am also studying with Osborne Books.

Any help with the above would be much appreciated.

Many thanks,

## Comments

155£18,700 is the list price (2431 / 0.13) x the 6% difference x 20% basic rate = £224

SA 2 Task 9(a):

Table: 5/3 x (£6,300 - £6,000) = £500 (as this is a Chattel and sold for more than £6,000. The purchase price is irrelevant)

Land: £17,500 - £15,000 = £2,500 (market value used instead of sale proceeds as it was sold to his father).

21Any tips for Task 11 (c) - capital gains & losses - complete nightmare, is there an easy way to work these questions out?

My exam is early next week, and those questions always come up

Thanks

2115515521Year Capital Gain Capital Loss

2014/2015 26,500 15,700

2015/2016 31,800 46,500

2016/2017 46,300 27,500

The amount that Thomas will have to pay capital gains tax on in 2016/2017 is ?

The amount of losses (if any) Thomas can carry forward to the 2017/2018 tax year is ?

The answer is 0 for Thomas and the carried forward total is £7,000?

Thanks

155In 2015/16 he made a net capital loss of £14,700, which is carried forward.

In 2016/17, he made a net capital gain of £18,800. His AEA is £11,100 leaving a taxable gain of £7,700. But he has £14,700 losses brought forward, so the CGT liability wil be zero and losses carried forward is £7,000.

155Tax year Net gain/(loss) AEA Taxable gain Loss B/f Loss C/f

2014/15 10,800

2015/16 (14,500) 14,500

2016/17 18,800 (11,100) 7,700 7,700 7,000

21Thank you