Anyone doing PTC?

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
with the 10% wear and tear on rented property i vagely remember something about it only being used if furnished and can only deduct the 10% if it is, am i right?

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Anyone doing PTC?

    Wear and Tear allowewnce can be deducted as an allowable expense on furnished properties.

    It is 10% of your rent less council tax and water rates.

    Hope this helps - not looking forward to tomorrow
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Anyone doing PTC?

    Yes You are correct. Also you can not claim WT if you are claimign capital allowance aswell, but you dont need to worry to much about this.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Anyone doing PTC?

    God is this tax doing my head in. I thought after doing business tax 6 months ago it was a breeze, I've not looked at my notes because of other exams and I'm just getting no-where with it. Every time I think i'm grasping it I try and do a question and I've done about 10 things wrong!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Anyone doing PTC?

    It's doing my head in as well, I keep making really stupid mistakes as well. Think I will be OK on section 1, it's CGT that I am finding the worst. hoping that we get a reasonable section 2 as in June 2005!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Anyone doing PTC?

    Good luck to anyone sitting PTC tomorrow. Don't know if this will help anyone but as there were no tax forms to fill in for either BTC or PTC in the Jun 05 exam, it may mean they might be more likely to examine them tomorrow...... ?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Anyone doing PTC?

    its the share pool i have to really concentrate on...
    good luck everyone for tomorrow... will await everyones postings...!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Anyone doing PTC?

    I've managed to go through all my Day 1 tuition notes now, so a little wiser but still way off. Day 2 shouldn't be so hard because part of its the pool stuff and capital gains which I could do fairly easily because I did business tax. But its like 7pm :( Argh! Not even looked at a past exam yet!!

    If you turn up late to exams can you still enter? I might decide to go in a hour late if so and just spend 2 hours on it, I don't think I'll need the full 3 hours anyway so a extra hours revision would be a good thing.

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