ACA ICAEW BPT March 2021
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#2
Yeah I was resitting - got 54 in December.I thought the first question had some tricky aspects, messed up part 2 and had to make a number up to carry onto the next one.Also didn’t leave myself enough time for the ethics marks at the end, just hope I got to the magical 55
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(Original post by Nathann1)
Yeah I was resitting - got 54 in December.I thought the first question had some tricky aspects, messed up part 2 and had to make a number up to carry onto the next one.Also didn’t leave myself enough time for the ethics marks at the end, just hope I got to the magical 55
Yeah I was resitting - got 54 in December.I thought the first question had some tricky aspects, messed up part 2 and had to make a number up to carry onto the next one.Also didn’t leave myself enough time for the ethics marks at the end, just hope I got to the magical 55
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#4
I also sat it - question 1 was the most difficult, I just copied stuff out of my notes for the raising finance bit, but felt there was a lot to do and slightly overran on time so I didn’t have much time for Q2, Q3 was probably the easiest, but they put the tax evasion bit and ethics annoyingly right at the end, which I reckon would be worth quite a few marks so if you didn’t watch your time, you miss the opportunity of getting those marks.
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#5
I sat it too. Not an awful paper. Thought question 2 was the worst, mainly the 2nd part around the dude's tax planning scheme - I just couldn't actually see many CGT or IHT implications in there...
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#6
(Original post by zachyg)
I sat it too. Not an awful paper. Thought question 2 was the worst, mainly the 2nd part around the dude's tax planning scheme - I just couldn't actually see many CGT or IHT implications in there...
I sat it too. Not an awful paper. Thought question 2 was the worst, mainly the 2nd part around the dude's tax planning scheme - I just couldn't actually see many CGT or IHT implications in there...
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#7
(Original post by savvysylvz)
I didn’t like Q2 either, did Q3 before I did Q2 - the tax planning scheme through me off too, I included SDLT because it was relevant but I was struggled to put many points relating to IHT and CGT - tried to be generic, didn’t know of the new house he bought would be classed as a GWROB - it was tough can’t lie
I didn’t like Q2 either, did Q3 before I did Q2 - the tax planning scheme through me off too, I included SDLT because it was relevant but I was struggled to put many points relating to IHT and CGT - tried to be generic, didn’t know of the new house he bought would be classed as a GWROB - it was tough can’t lie
The other tax considerations would have been SDLT as noted, and a PET. Transfer would be exempt from VAT.
There wasn’t too much information on capital gains, but the assumption could be made that the disposal of the original house would be covered by the PRR.
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(Original post by savvysylvz)
I didn’t like Q2 either, did Q3 before I did Q2 - the tax planning scheme through me off too, I included SDLT because it was relevant but I was struggled to put many points relating to IHT and CGT - tried to be generic, didn’t know of the new house he bought would be classed as a GWROB - it was tough can’t lie
I didn’t like Q2 either, did Q3 before I did Q2 - the tax planning scheme through me off too, I included SDLT because it was relevant but I was struggled to put many points relating to IHT and CGT - tried to be generic, didn’t know of the new house he bought would be classed as a GWROB - it was tough can’t lie
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#9
(Original post by B4Acnt)
The cash gift and purchase of a house in Q2 fell in scope of POAT (pre-owned asset tax). The annual value of the property (given in Q) would be chargeable to income tax for the lady who’d gifted cash and subsequently received the benefit.
The other tax considerations would have been SDLT as noted, and a PET. Transfer would be exempt from VAT.
There wasn’t too much information on capital gains, but the assumption could be made that the disposal of the original house would be covered by the PRR.
The cash gift and purchase of a house in Q2 fell in scope of POAT (pre-owned asset tax). The annual value of the property (given in Q) would be chargeable to income tax for the lady who’d gifted cash and subsequently received the benefit.
The other tax considerations would have been SDLT as noted, and a PET. Transfer would be exempt from VAT.
There wasn’t too much information on capital gains, but the assumption could be made that the disposal of the original house would be covered by the PRR.
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#10
(Original post by lw98089)
Yeah I wasn’t a fan of that question, seemed pretty heavy for a part 2 of a 30 mark question as part 1 took quite a while to do (for me anyway). I barely had any time to answer it so just copied some lines about the pre owned asset tax charge straight from my kaplan book so probably didn’t do too well on that bit. Did anyone else use Kaplan? I found the mock easier than the actual exam, when the mock is supposed to be harder. I’m praying I’ve passed as I can’t face resitting it, absolute monster of an exam.
Yeah I wasn’t a fan of that question, seemed pretty heavy for a part 2 of a 30 mark question as part 1 took quite a while to do (for me anyway). I barely had any time to answer it so just copied some lines about the pre owned asset tax charge straight from my kaplan book so probably didn’t do too well on that bit. Did anyone else use Kaplan? I found the mock easier than the actual exam, when the mock is supposed to be harder. I’m praying I’ve passed as I can’t face resitting it, absolute monster of an exam.
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#11
(Original post by savvysylvz)
Ah good to know - I put the SDLT part and the PET part down so got some marks - my Q1 and Q3 were better and first part of Q2 so hoping that pulls me through, how did you find it?
Ah good to know - I put the SDLT part and the PET part down so got some marks - my Q1 and Q3 were better and first part of Q2 so hoping that pulls me through, how did you find it?
The absolute faff of actually starting the exam remotely aside, feels like it went quite smoothly. Always difficult to tell though since there are so many overhead marks; so an incomplete answer can easily score 100%.
I definitely was against the clock for Q3 though leaving me with an incomplete ethics answer which was disappointing. As someone said above, a bit cruel from the examiner leaving that to last place!
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#12
(Original post by B4Acnt)
That’s great, will be interesting to see how many marks were allocated to that. I’m guessing around 6-8? I didn’t encounter any POAT arrangements doing question practice.
The absolute faff of actually starting the exam remotely aside, feels like it went quite smoothly. Always difficult to tell though since there are so many overhead marks; so an incomplete answer can easily score 100%.
I definitely was against the clock for Q3 though leaving me with an incomplete ethics answer which was disappointing. As someone said above, a bit cruel from the examiner leaving that to last place!
That’s great, will be interesting to see how many marks were allocated to that. I’m guessing around 6-8? I didn’t encounter any POAT arrangements doing question practice.
The absolute faff of actually starting the exam remotely aside, feels like it went quite smoothly. Always difficult to tell though since there are so many overhead marks; so an incomplete answer can easily score 100%.
I definitely was against the clock for Q3 though leaving me with an incomplete ethics answer which was disappointing. As someone said above, a bit cruel from the examiner leaving that to last place!
Last edited by savvysylvz; 1 month ago
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#13
BPT was tough ngl. I made a decent attempt on every question and managed to nail the ethics and remittance question. So I am hoping that would carry me.
Bit off topic but BST was tough as well. How did everyone else's go? I'll most likely fail although answered 60-65% of each question.
What do yall think? If it was tough for everyone maybe can all wallow in despair together....
Bit off topic but BST was tough as well. How did everyone else's go? I'll most likely fail although answered 60-65% of each question.
What do yall think? If it was tough for everyone maybe can all wallow in despair together....
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#14
(Original post by Ryanrr)
BPT was tough ngl. I made a decent attempt on every question and managed to nail the ethics and remittance question. So I am hoping that would carry me.
Bit off topic but BST was tough as well. How did everyone else's go? I'll most likely fail although answered 60-65% of each question.
What do yall think? If it was tough for everyone maybe can all wallow in despair together....
BPT was tough ngl. I made a decent attempt on every question and managed to nail the ethics and remittance question. So I am hoping that would carry me.
Bit off topic but BST was tough as well. How did everyone else's go? I'll most likely fail although answered 60-65% of each question.
What do yall think? If it was tough for everyone maybe can all wallow in despair together....
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#15
(Original post by zachyg)
Same here re remittance. I did well on the remittance question in the mock we did the week before the exam, so hoping that makes up for Q2 which I think I botched...
Same here re remittance. I did well on the remittance question in the mock we did the week before the exam, so hoping that makes up for Q2 which I think I botched...
How did BST go for you? I found it really tough
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#16
(Original post by Ryanrr)
Q1 wasnt easy either esp the translation error / IFA / financing. Did you manage to answer those adequately?
How did BST go for you? I found it really tough
Q1 wasnt easy either esp the translation error / IFA / financing. Did you manage to answer those adequately?
How did BST go for you? I found it really tough
Only sat BPT, I've passed all the other professional level exams. Hope BST goes your way!
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#17
(Original post by zachyg)
Yeah Q1 also wasn't fun, there was a lot to do. I think I wrote enough for all the parts. However, whether it was correct / relevant and not just nonsense is a different question! What about you?
Only sat BPT, I've passed all the other professional level exams. Hope BST goes your way!
Yeah Q1 also wasn't fun, there was a lot to do. I think I wrote enough for all the parts. However, whether it was correct / relevant and not just nonsense is a different question! What about you?
Only sat BPT, I've passed all the other professional level exams. Hope BST goes your way!
Its near impossible to do every question sufiiciently.
I managed to do 60 -65% of every question in the paper as instructed by tutors. Do you think that suffices?
But yeah Q1 in BPT was tough but if you are partially right and make a decent attempt at every question and nail ethics then it should be an easy pass.
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#18
(Original post by Ryanrr)
How did BST go for you if you dont me asking? Did you get more than you expected? I know people who thought they would fail but got 70% smh
Its near impossible to do every question sufiiciently.
I managed to do 60 -65% of every question in the paper as instructed by tutors. Do you think that suffices?
But yeah Q1 in BPT was tough but if you are partially right and make a decent attempt at every question and nail ethics then it should be an easy pass.
How did BST go for you if you dont me asking? Did you get more than you expected? I know people who thought they would fail but got 70% smh
Its near impossible to do every question sufiiciently.
I managed to do 60 -65% of every question in the paper as instructed by tutors. Do you think that suffices?
But yeah Q1 in BPT was tough but if you are partially right and make a decent attempt at every question and nail ethics then it should be an easy pass.
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#19
Hey - what kind of issues did you discuss for the FX item. I think I remember they translated it correctly but wrongly included as trading rather than NTLR as it was for an investment property.
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(Original post by Sd981)
Hey - what kind of issues did you discuss for the FX item. I think I remember they translated it correctly but wrongly included as trading rather than NTLR as it was for an investment property.
Hey - what kind of issues did you discuss for the FX item. I think I remember they translated it correctly but wrongly included as trading rather than NTLR as it was for an investment property.
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