BPP Blog

Like this or hate this you are given 15 minutes reading and planning time at the beginning of the ACCA F6 exam where you are not allowed to write anything in your answer booklet. So what should you do with this time? Firstly make sure you know where to find the tax tables – these should be on the first few pages of the paper so you can quickly refer to these if needed. more

The ACCA P6 exam will contain two compulsory questions in Section A which will total between 50%-70% of the total marks. The questions can be equal in length or one may be longer than the other. They are also constructed in a case study style with often the question covering at least two pages of the exam paper with many tasks to undertake. Students quite rightly feel overawed by these questions; however a sensible step by step approach to answering them should improve confidence. more

One area which students often struggle with at ACCA F6 Taxation are the rules that apply to compute the assessable trading profits when a sole trader starts their trade. It’s important to approach this problem by using a step by step method. To begin you need to take the trading profit from the date trade commences to the following 5 April. Care needs to taken in identifying which tax year this relates to. There are two ways of getting this right. Firstly look at the start date and work out which tax year that falls into or alternatively the 5 April you are using should be the date the relevant tax year ends. The basis period for the first tax year will generally be less than 12 months. more

A typical scenario that appears regularly in the ACCA P6 exam is that of an individual planning to set up a business. This individual is unsure whether to form their business as a company or as a sole trader. To add to this dilemma the business is also expected to make trading losses therefore a clear knowledge of the different types of trading loss relief is essential at ACCA P6. more

An odd question on first viewing but it is amazing how few students know when a particular tax needs to be paid or when to submit a return. more