F6 kaplan exam tips december 2014 exams|ACCA

Here are some suggestions of key areas which may be tested in December 2014 exam f6 taxation : -

 Income tax:

– Personal allowance reduction/personal age    allowance

– Husband and wife/civil partners

– Some exempt income/benefits

– Employed vs. self-employed

– Residence

– Charitable donations

– Property income – possibly FHL/rent a room relief

– Partnership

– Losses – choice of relief/tax saving/maximum deduction restriction

– National insurance

– Self-assessment

– payments on account, filing, amendments

– Interest/penalty – explanation/calculation

 Corporation tax:

– Possibly a straddling period

– Long period of account

– Definition of a CAP – Chargeable gains to calculate

– Residence

– Penalties for late filing of return and/or interest on late payment

– Quarterly instalment payments

VAT:

– Separate part of question 1 or 2 or whole question 4/5

– Discounts

– Impaired debts

– Invoices/simplified invoicing

– Deregistration and transfer of a going concern

– Errors

– Overseas aspects

– Flat rate scheme

 Capital gains tax:

– Husband and wife making disposals – Wasting assets or chattels

– Exempt assets

– PPR relief

– Gift relief

– Takeovers

 Inheritance tax:

– Transfer of unused NRB between spouses 

Note : Also read technical articles for F6 on ACCA website.

Sundry topics for questions 4 and 5 – Comparative scenario or other new style question : – Self assessment – Ethics – including general anti-abuse rule