[Patrickizzo]

Thanks Jill you are the best. Passed with 69%

[Patrickizzo]

I mean associates are companies in which we have >51% shareholding, so can we include dividends for companies with <51% in the CT computation?

[Patrickizzo]

Then can you please tell me why in the Single Entity question ”Fresco” the deposit of 2m has been included in the ROU instead of deducting as its (deduct lease payment before and after the commencement of lease) and whats the difference b/w subtracting it here and adding it in Fresco? I am probably confusing b/w ROU and Lease liability…

[Patrickizzo]

Doubt SOLVED it was above the Upper Limit for (3m)

[Patrickizzo]

Kaplan Q239, latest version

There are no other options to choose from.

Other questions are (True/False which i have guessed correctly as both false):
-Cairns Ltd’s taxable total profits in the year ended 30 June
2024 are £27,000

-The trading loss may not be offset against chargeable gains

(And there are no explanations in the back about this.)

[Patrickizzo]

And what to do if there is a MAIN RESIDENCE and NO mention of leaving to the direct descendants?

[Patrickizzo]

Here is the formula I found on Google:-
ROU Asset = Initial Lease Liability + Prepaid Lease Payments – Lease Incentives Received + Initial Direct Costs + Restoration Costs – Any Lease Payments Made at or Before the Commencement Date.

But isn’t “Prepaid lease payments” which is added and “Lease Payment made before commencement” which is subtracted the samee thing ??

Whats the 20000 in the question above? “Any Lease Payments Made at or Before the Commencement Date”?

[Patrickizzo]

My answer is True because you have to claim the carry forward relief in 2 years following the current period but the answer is saying otherwise. Am I missing something?

[Patrickizzo]

In this question why is the Dividend deducted instead of added to the Administrative expenses? Am I missing something?

[Patrickizzo]

So this is the correct format right?

If the actual proceeds received LESS THAN EQUALS TO original cost of the asset:
– gift relief available = all of the gain (as if it were an outright gift)

If the actual proceeds received GREATER THAN original cost of the asset:
– any excess = chargeable to CGT at the date of the sale at undervaluation
gift relief available = the remainder of the gain.

[Patrickizzo]

So whoever is beyond arms length we use Actual proceeds??

[Patrickizzo]

Thanks for the help sir.

[Patrickizzo]

Today, I passed BT with 79% using OT, after failing with 47%

Thank you.

[Author]

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