[Burningdesire]

Another question I got stuck on was the one where he bought something years ago for 5k and sold it to his son for 20k when market value was like 300k. I put down the gains was 0, is this wrong ? My logic was it got sold under market value to his son by huge margin

[Burningdesire]

Hey Jargal

What did you put for investors relief and Entrepreneur relief question, did they qualify or not?

[Burningdesire]

Did you guys click did not qualify for ir or er relief in that question in MCQ question?

[Burningdesire]

I cant believe i changed my answer for the simplied invoice question to customer name and exclusive vat amount, my original answer was tax point and customer name doesnt have to be on a simplied invoice.

[Burningdesire]

Does one exempt after 7 years but is gross amount mean don’t deduct a/e to get the nrb? Thanks

[Burningdesire]

Please ignore i rewatched your videos for recap

[Burningdesire]

I know in the video you say the remaining basic rate was utilised on e/r but why is that, i would of thought from my understanding so far that the reason why you split er and non er is to make make the higher taxed assets more tax efficient? I hope you understand where im coming from, im just trying to ace this topic

Thanks

[Burningdesire]

You take the lower off the disposal proceeds or original cost when it comes to disposal mate

[Burningdesire]

Silly me, its 3am and im looking into it too much. Ive realised the tapering has been applied to both examples as ive studied it before.

25000 from first example came from 40,000-15000
Similarly in the second question 40,000-10,000 i understand where the numbers come from

Please ignore or correct me if im wrong

Thanks

[Burningdesire]

Hey Tracy how was audit? Was it better than Taxation? Which did you prefer, I’m doing both

[Burningdesire]

Hey how did you find the exam did you pass ?

[Burningdesire]

Thanks for your reply, I understand it now, i just spent more time on it as i didnt want any gaps in my knowledge going forwards. Plus im now mid way through Trade losses and it has helped :). I hope my question didnt sound negative as I didnt mean to sound negative

[Burningdesire]

Thank you, i understand it much better now 🙂

[Burningdesire]

Thank you that was so helpful, my preparation in the first attempt was so bad due to working hard and not smart. I literally had a week to go through past paper questions after spending 4 months going through 1000 pages in my Kaplan book and then forgetting what i learned 2 months ago and not having the time to go back

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