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  1. #1
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    Default Advanced tax...7th Dec

    Just came out of this exam, and have failed!! I am sooooo annoyed, I really did go in having covered all material and knowing my stuff.

    How did everyone else find this?

    If you can remember any indiviudal bits you struggled with i would love to hear them so i dont feel quite so alone!

  2. #2
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    Thumbs down Epic fail

    Quote Originally Posted by sjbherself View Post
    Just came out of this exam, and have failed!! I am sooooo annoyed, I really did go in having covered all material and knowing my stuff.

    How did everyone else find this?

    If you can remember any indiviudal bits you struggled with i would love to hear them so i dont feel quite so alone!
    Worst exam I have ever sat, looks like am failing my last exams

    what's worse it was well passable. I picked wrong section B on IHT. By the time I got cracking I realised I hadn't read rules for APR so mucked that up.

    Didn't realise you could have BPR & APR and also guessed APR was 50%

    then on Q2 I TOTALLY made a mess of PPR on the mortgage. which I have read several times so am mad at myself cracking under pressure.

    I forgot to knock off 8% brokers fees for selling cars, but noticed and put additional note so fingers crossed I got credit.

    Left myself 30 mins to do Q1. Didn't really get what it was asking in part A, I couldn't see immediate benefit of it becoming a group cuz of associates reducing UL / LL but since looking common control also reduces limits ie an individual.

    I forgot all the rules for de grouping, and then couldn't see anything different for the corporation tax except the dividends?! My mate said there was capital allowances. Went over my head.

    All in all in retrospect it was time management. I overan a question by 15 mins it became a nightmare from that point as I just didn't have time to read the detail and suffered majorly for it.

    Hey ho

    VAT I talked about OTT and that was about it.

    All in all an utterly, miserable soul destroying experience for me. It's back to the drawing board. I have also probably blown adv audit tomorrow by working too much on tax.

  3. #3
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    Default

    I am sorry to hear it didnt go well for you either, but in some ways glad that i am not the only 1.

    Q1 i just didnt get at all, maybe managed some marks on degrouping and i didnt notice the capital alloawances either. the only real change to CT calc I had was dividends and also a 20% tax rebate as they purchased some EIS/VCT shares.....overall a dismall question. Also I talked about OTT for VAT, but more hopeful than anything else

    Q2 - tricky buy hopeful

    I then did Q3 (inheritance tax) and Q5 which had I not panicked at reading Q1 when I opened the paper then I may have done alright.

    I too am soul-destroyed as I really felt that i could pass this paper. I had been thorugh all the past questions and felt that I could answer a qquesiton on anything in the syllabus. I am soooo gutted

    I too have advanced audit tomorrow, I am hoping this one is a little kinder. The roll on P1 next week. Hopefully just one of 3 to resit

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