by Neil Da Costa | Mar 7, 2022 | Uncategorized
With the Advanced Tax exam tomorrow, my students are busy doing their last-minute revision.I would like to wish all of you the very best of luck tomorrow.Believe in yourselves and make it happen!The importance of wide syllabus coverage is self-evident and for anyone...
by Neil Da Costa | Mar 5, 2022 | Uncategorized
A crucial area that I expect to feature in the forthcoming March 2022 Advanced Tax exam is Business Asset Disposal Relief (BAD relief) This is simply the new revised entrepreneur’s relief. It is available on the sale of a sole trader’s business assets (usually...
by Neil Da Costa | Mar 3, 2022 | Uncategorized
The most popular computation involving employment P-11D benefits in tax exams is always the car benefit.This arises if a car owned by the employer has private use by the employee.The first step is to take the list price (not the cost of the car) and deduct any capital...
by Neil Da Costa | Mar 1, 2022 | Uncategorized
One easy area in the tax exams is computing tax on gains by individuals. The first aspect to appreciate is many assets are exempt from CGT such as cash, cars, QCBs, chattels worth less than £6,000, and the principal private residence. Common chargeable assets include...
by Neil Da Costa | Mar 1, 2022 | Uncategorized
In every corporation tax question, tax students will have to deal with capital gains. The most common assets examined are buildings.It is very simple to compute a gain (sale proceeds less cost less indexation allowance).You can deduct selling costs like legal expenses...
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