I've just failed PTC :(

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:08AM in AAT student discussion
What an awful exam, I totally messed up. I didnt put in the relief on the pension payments and totally messed up the share pool. That pre 1985 share purchase really threw me off track. Its only now when im thinking about it that i realised what I should of done.<BR><BR>Oh well theres always June :(

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    I've just failed PTC :(

    Do not despair.<BR><BR>I dont remember section 1 question to be a high income earner - so didn't claim pension relief. Am I wrong??<BR><BR>Found the paper to be fair though.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    I've just failed PTC :(

    thats true :)<BR><BR>Just remembered that i forgot to deduct the annual capital gains exemption too, what a nightmare i had this morning :(
  • System
    System Posts: 100,534 🤖 Admin 🤖
    I've just failed PTC :(

    I don't think its just you who has found it tough. I think that the way it was worded and the layout confused alot of people.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    I've just failed PTC :(

    i took off 6% of the gross salary off the salary added on the benefits and took of the subscription!<BR><BR>didnt know what to do about the pre 85 index but used it, was it a red herring?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    I've just failed PTC :(

    I haven't checked this but I indexed the FA1985 Pool to April 85 then indexed it again to the later date.<BR><BR>I think in the Pool you are supposed to index everything pre April 1985 to April 85 but I am not sure if you still do that if there is only 1 purchase pre April 1985.<BR><BR>I think in the previous past papers and 2003 pilot paper pre April 85 transactions were not used, so it is new ground for the exam.<BR><BR>I think if this 1 step is wrong it won't mean a fail for the question. I actually think you should still score well if you get the method right but make the odd mistake.<BR><BR>I made a total mess of the Pool, luckily my brain kicked in and I managed to re do the whole question.<BR><BR><BR><BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    I've just failed PTC :(

    Don't think it was a red herring. Had to pool the pre 85 shares up to April 85. But then I found myself pooling all of the Shares up to April 98??? Strange one today I think. Also noticed we had to assume the people's tax codes as basic 4615L.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    I've just failed PTC :(

    Well spotted, I just used the 4615 without thinking, but you are correct there was no information in the question or data to actually tell you the personal allowance was infact 4615

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