Kaplan
MCQ’s will cover whole syllabus.Income tax:
– Personal allowance reduction/personal age allowance.
– Husband and wife/civil partners.
– Employed vs. self-employed.
– Losses – choice of relief/tax saving/maximum deduction restriction.
Corporation tax:
– Possibly a straddling period.
– Long period of account.
– Chargeable gains to calculate.
VAT:
– Separate part of question 1 or 2 or whole question.
– Discounts.
– Impaired debts.
– Invoices/simplified invoicing.
Capital gains tax:
– Husband and wife making disposals.
– Wasting assets or chattels.
– Exempt assets.
Inheritance tax:
– Transfer of unused NRB between spouses.
Others:
– Comparative scenario or other new style question.
– Self assessment.
– Ethics – including general anti-abuse rule
Bpp
Section A15 multiple choice questions worth 2 marks each. The MCQs will largely be knowledge based and will balance out the questions in Section B to make sure that all aspects of the syllabus are examined. You should expect the administrative aspects of F6 (self-assessment filing, payment deadlines, penalties etc for both individuals and companies) to feature a little more than was the case before.
Section B
Q1 – Q4: Four 10 mark questions. The questions will be broken down into sub requirements and may also be based on a short scenario.
Areas expected to be tested in questions 1 to 4 include property income, pensions, a range of capital gains calculations (chattels, part-disposals, use of capital losses and business reliefs), inheritance tax (death tax on lifetime gifts and/or death estate) and value added tax (schemes for small businesses).
Q5 & Q6: Two 15 mark questions which will be broken down into sub requirements and be scenario based. One of the questions will test a range of aspects of income tax (likely to be employment income and/or trading income) and the other question will cover corporation tax. Capital allowances are likely to feature in one of these questions.
F6 has the following syllabus areas:
A The UK tax system and its administration
B Income tax and national insurance contributions
C Chargeable gains for individuals
D Inheritance tax
E Corporation tax liabilities
F Value added tax
Lsbf
Section AMCQs from anywhere in the syllabus
Section B
– Q1 (10 marks): Capital gains question for a company or individual maybe shares, takeovers/mergers and PPR relief/letting relief.
– Q2 (10 marks): VAT – due date for registration or deregistration, surcharges, flat rate scheme.
– Q3 (10 marks): Inheritance tax, including lifetime gifts into a trust, the diminution in value principle and the death estate.
– Q4 (10 marks): Property business profits/losses calculation or a sole trader making a trading loss in the middle of the trading cycle.
– Q5 (15 marks): Income tax – a sole trader and adjusting the accounting profits, maybe on commencement or cessation, capital allowance and computing income tax.
– Q6 (15 marks): Corporation tax computation – calculating corporation tax possibly including a straddling CAP.
First Institution
Coming SoonOpen Tuition
Section Awill contain 15 MCQ each carrying 2 marks. Remember No marks will be rewarded if your answer is wrong. Choose exact figures of answer.
Section B
Q: Income Tax (15 Marks)
– Employment Income with assessable benefits
– Property Income
– Interest Income
– Dividend Income
It may also include the opening or closing years of an unincorporated trader as the individual moves from employment to self employment during the tax year or vice versa.
Q: Incorporation Tax (15 Marks)
– Adjustment of Profit and Loss
– Capital Allowances Adjustment
– Long Period of Accounts
The latest style of testing this is to give you in the question not the statement of profit or loss and ask you to prepare the CT computation but gives you within the question an error strewn CT computation prepared by the client and ask you to correct it!
Q: Four 10 mark questions will almost certainly be on CGT, IHT and VAT with a final question testing a different area of either Income Tax or Corporation Tax, for example losses of either a company or unincorporated trade, partnerships, pension contributions, groups of companies or the administration of the taxes and ethics.
Important:
Detailed technical article on Motor Cars may form the basis of the more challenging style of question now favored by the examining team where the candidate is required to think very carefully to answer a more unusual stated requirement.
This may involve e.g evaluating the tax position of both the business (unincorporated or incorporated), and if separate, the individual, regarding the provision of a car and fuel to an employee or proprietor. This may involve elements of Income Tax, Corporation Tax, VAT and NIC’s. Work carefully through the exam standard example at the end of the examiner’s article.
