lost my will

Kelly7

I've passed all my other exams ok but I've failed personal tax twice. I put so much effort in both times going over everything and feel like there's no point trying again, if I can't pass on two attempts I don't know what more I can do to pass if I do it again. The way I feel tonight I just want to leave it and accept that level 4 beat me but after all the work I know that might not be the right thing. Has anyone changed a subject before and can you buy a book to learn everything from? X

amyjayne27

Hi Kelly,

Please don't give up!! I felt like I wasn't going to be able to pass Financial Statements, I found it so hard. You have put so much time effort and money into it, I know you can do it! I have personal tax on Friday, so is there anything you wanted to run through? Not sure if you are on the distance learning AAT group on facebook, but there are people on there that have taken personal tax 3-4 times. Don't give up!

Lindux

If this makes you feel a bit better, then at our college there was a bloke you did his performance exam 7th time and still couldnt pass...but he kept going till he passed....I found the tax exams and financial statements the hardest in level 4 clearly becoz of the amount of info you need to remember...Keep going, YOU CAN DO IT!!!!

kkelly

Please keep going Kelly. Youve gone so far it would be a shame to not keep trying. I stopped for other reasons and its a HUGE regret, if I could turn back the clock would I change things!!! Practice as many questions as you can and study hard for it and please God you will get it next time!!
Kevin

Kelly7

Aww thanks guys. Appreciate all your replies. I emailed my teacher and he said there is one re-sit option - 4th September otherwise I'll have to wait until December so I'm going to give it a final go and if I don't pass I might try another topic.

Good luck tomorrow Amy Jayne, let us know how you get on.

One question which might sound stupid and I think I know the answer, but if you are renting a room or house and you buy a new cooker for the house, this is capital expenditure yes so doesn't get deduced from the profit?

Kelly x

amyjayne27

Hi Kelly,

Thank you! I survived it, not too sure really how it went but I will soon find out (well in 6 weeks).
With your question, its a tricky one. As if its replacing a cooker that was already there this could be argued as R & R which is deducted from the profit. But it could also be argued as a capital expenditure if its not replacing an existing one - usually in the question it will be clear if the item is revenue or capital expenditure. Sorry I cant be more specific!