P6 Advanced Taxation
June 2011 ACCA Exam Tips by Kaplan




Corporation tax
- Group relief – tax planning; consortium relief, trading losses
- Loan relationships computational aspects i.e. non trading deficits
- Capital gains groups: degrouping charges, rollover
- Double tax relief for branches / no tax on overseas dividends
- Transfer pricing
- Quarterly payments for large companies
Capital gains
- Overseas aspects
- Reliefs: Entrepreneurs’, gift, PPR and letting
- Share matching rules, takeovers or reorganisations, valuation of shares
Inheritance tax
- IHT aspects of trusts
- Death estate computation with business property relief
- Transfer of nil band between spouses
- Deed of variation
- Valuation of shares
Income tax
- Sole trader: opening year rules
- Self assessment admin: payment by instalment, new penalty regime
- Overseas aspects for employees working abroad
- Income tax comps at marginal rates, possible overseas income
- Redundancy payments
- Share options
- Furnished holiday lettings
- EIS/VCTs/ISAs
VAT
- Partial exemption
- Penalties
- Deregistration and final VAT charge
- VAT groups
Scenarios
- Sole trader commencement
- Lease vs. buy assets: net cost
- IHT vs CGT for gifts
Ethics!


Use the above ACCA EXAM Tips as important areas to cover but remember that no one knows what can come in your P6 June 2011 ACCA Exam, apart from Rory Fish (P6 examiner for June 2011). Your safest bet is to achieve good syllabus coverage in your revision, as your examiner aims to do in this sitting of P6 Advanced Taxation Exam.