P6 exams

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P6 exams

Postby angeltwin » Mon Jun 01, 2009 1:20 pm

How did everyone find it!??!!

initially i thot oh no when readin questions then i started to get into them and seemed ok, till i reread a bit and realised i had done a whole bit wrong!! then i think i chose the wrong part a question to start wi i did question 1 then 2 and started running out of time!!

eeek hopefully i passed!!

But off to study for blinkin auditing now.......i will need a miracle for that one!! :( x
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Re: P6 exams

Postby barbie » Mon Jun 01, 2009 1:31 pm

oh well at least it will be all over for you tomo - i am at freak out stage and it does not help my friend has just called having finished P6 exam - its her last one ( a resit from December). She said it was horrid - worse than last year so have some comfort in that!
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Re: P6 exams

Postby mystery » Mon Jun 01, 2009 1:38 pm

it looked really good at first glance
but questions were difficult
hoping to pass

best of luck for those who have exams tomm
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Re: P6 exams

Postby Std_Acc » Mon Jun 01, 2009 2:48 pm

Well i dont know people, from where I was sitting that was horrendous!!! I was really really struggling for time, people around me were sat staring at the paper... i wondered if they were just coming up with well thought out answer plans and everything was cool for them. Bit off more than I chew... it definitely wont be this time but I will eventually get this paper!!
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Re: P6 exams

Postby scottyjimb » Mon Jun 01, 2009 2:53 pm

Overall, I thought the exam wasn't too bad, it could have been a lot worse. There were things where I had little knowledge though (VCTs) which I suspect could have cost me a pass. This is the first exam where I have not been able to answer all of the questions in time and I felt very time pressured to get where I was (last part of final question).

What options did people go for? I went for 3 (personal tax, loss relief and the best options for it) and 5 (Group losses and overseas start ups). Question 3 appeared to be a CGT versus IHT question in regards to what are the effects of each transaction on them.

As for the mandatory questions, 1 was regarding the sale of an unincorporate business, along with CGT on share sales, corporation tax admin stuff and an explanation of zero rated VAT outputs. Question 2 (didn't like) was about IHT from a find the errors in the computation view, advantages of VCTs and pension planning (what investments to buy to increase pensions limits), tax avoidance and the declaration of overseas income to claim DTR.

I hope I read these right and haven't confused anyone with the above (I sat the UK variant).

Off to do a bit of P7 now, that'll be fun.

Best of luck for you all if you have other exams.
Phew! It's done.
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Re: P6 exams

Postby mystery » Tue Jun 02, 2009 9:11 am

i did ques 3 and 4
optional question were kind of ok
q1 n q2 were confusin
bt over wid it and back to p5
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Re: P6 exams

Postby LMLM » Wed Jun 03, 2009 8:13 am

i had done the dec 08 one on sat morn and i thought the june 09 was a LOT easier! q3 on p'ships was a gift - q5 gave me the horrors so that was an easy choice from the optional questions! unusual giving q2 more marks than q1 i thought.
im hoping i just scrape through, given i failed all 3 of my mocks, we'll see....at least the same textbooks are valid for the dec09 exams, thats something lol
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Re: P6 exams

Postby alan_brown » Wed Jun 03, 2009 10:40 am

hey
what were the points re sale of the unincorporated business? my minds actually fried?

also was anything in the paper to do with close companies??!
i know i failed it unfortunately
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Re: P6 exams

Postby LMLM » Fri Jun 05, 2009 12:55 pm

re your latter query - yes, the company that the chap's friend told him to form in order to reduce his tax was a close investment-holding company, ie he wouldnt have saved tax as they are taxed at full CT rate regardless of PCTCT!
i cant remember anything about the former, i didnt do the cgt comp for that, i concentrated on the rest of the question as that was mainly non-numerical and areas i felt happier tackling
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