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ACA Tax compliance and BPT exams

How did everyone find the exams? Personally I think the TC exams was quite tricky and I ran out of time... BPT seems slightly easier, esp comparing to past poets. What do you all think?
Reply 1
Part one pretty standard.
Part two, capital goods scheme and small amount of SDLT. Messed up the CGS formula but I think they'll be able to see where I went wrong and I definitely got the payable/receivable part right. SDLT and OTT nice and simple.
CGT, did the Turkish guy in the question actually have zero CGT payable after deduction of DTR? I think I must have done something wrong...although maybe I hadn't and they were leading us into showing us that if it was done by the remittance basis he would be charged on the sale of the UK property because the small amount of gain there wouldn't be sweeped up by the annual exemption?
IHT seemed alright except for the last question, forgot that charity is 10% of your net chargeable estate so it's after deducting BRB, plus you had to figure out the payable amount in reverse. Think it wasn't a huge amount of marks and I did remember the 10%/36% rule and calculated the rest fine as well as doing the net gain (increased charitable giving less amount saved from higher IHT band). Wish they could've just given us a standard pro forma question.
CT....forgot the rules about loss and gain groups so there's 7 marks down the drain and losses were a write-off. Nice and easy rollover relief question and capital allowances though.
Income tax...funny having to reduce the personal allowance, takes me back to pricinples of taxation lol. I don't think there is that much difference between cash basis and accruals basis when it comes to tax except for things like the capital allowances?
Didn't appreciate a child benefit charge question at the very end but I had run out time by then anyway haha
Reply 2
Original post by ubi0054
Part one pretty standard.
Part two, capital goods scheme and small amount of SDLT. Messed up the CGS formula but I think they'll be able to see where I went wrong and I definitely got the payable/receivable part right. SDLT and OTT nice and simple.
CGT, did the Turkish guy in the question actually have zero CGT payable after deduction of DTR? I think I must have done something wrong...although maybe I hadn't and they were leading us into showing us that if it was done by the remittance basis he would be charged on the sale of the UK property because the small amount of gain there wouldn't be sweeped up by the annual exemption?
IHT seemed alright except for the last question, forgot that charity is 10% of your net chargeable estate so it's after deducting BRB, plus you had to figure out the payable amount in reverse. Think it wasn't a huge amount of marks and I did remember the 10%/36% rule and calculated the rest fine as well as doing the net gain (increased charitable giving less amount saved from higher IHT band). Wish they could've just given us a standard pro forma question.
CT....forgot the rules about loss and gain groups so there's 7 marks down the drain and losses were a write-off. Nice and easy rollover relief question and capital allowances though.
Income tax...funny having to reduce the personal allowance, takes me back to pricinples of taxation lol. I don't think there is that much difference between cash basis and accruals basis when it comes to tax except for things like the capital allowances?
Didn't appreciate a child benefit charge question at the very end but I had run out time by then anyway haha

Haha same I run out of time for the easiest child benefit charge question lol.. waste. I also got 0 charge for the Turkey question but I got a feeling it is wrong as well haha. Yeah a couple of tricks here and there and just ran out out time in the end
I found the TC exam really hard, especially in comparison to past sittings. Completely ran out of time as my software was incredibly slow and laggy and wouldn't let me copy and paste properly. I'll be resitting in September :frown:
Reply 4
Original post by ACA_student96
I found the TC exam really hard, especially in comparison to past sittings. Completely ran out of time as my software was incredibly slow and laggy and wouldn't let me copy and paste properly. I'll be resitting in September :frown:

Yeah same I thought it was more difficult than last year as well. Anw dun lose hope, you nv know!
Reply 5
I also got 0 charge for the Turkish guy. I only attempted the capital allowance for corporation tax. But feels good for other part.
how did you guys do, if you don't mind me asking? Just sat Sept 2021 - long 6 weeks ahead waiting for the results.

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