PTC Exam was so easy to understand

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
What a good paper of the PTC!! Thankx it onlt took me 45min to finish a three hour paper. I wish all the member should pass so that we will meet on the CIMA. Boyz and gals all my Thanks goes to all of you on this forum, for sharing meant a lot for me.

Good Luck to all

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PTC Exam was so easy to understand

    lucky you. I got into a toal mess on my section 2- do you remeber what you did for your shares?

    also the income tax liability- did it include schd a and f - was that all.

    what did you calculate capital gains tax liability as?

    i really think ive messed up.

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PTC Exam was so easy to understand

    What did you do with the capital contribution towards the cost of the car?
    Does this reduce the list price of the car before the appropriate percentage is applied
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PTC Exam was so easy to understand

    Section 2 the income tax liability was just Schedule A and F, I got £9007 for the total.

    For capital gains I got £24586 in total (or there abouts) after deducting the annual exemption.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PTC Exam was so easy to understand

    Kenco you calculate our car benefit first, followed by the fuel benefit then you take off the contribution and the total will be your benefit to include to ur annual income.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PTC Exam was so easy to understand

    There seems to be a difference of opinion regarding the car calculation?
    The question stated that £2500 was a capital contribution towards the cost of the car.
    It states in the text books that a capital contribution by an employee is deducted from the list price before the appropriate percentage is applied.
    It is revenue contributions to the use of the car that are deductable from the calculated taxable benefit.

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