F6 Taxation Exam Resources 

Last updated Nov 18 2007

BPP Exam Tips

This exam consists entirely of compulsory questions; this makes question spotting very dangerous. The purpose of this analysis is to highlight areas of the syllabus that we would expect to be regularly tested based on the pilot paper and the sittings of the old 2.3 papers which was also examined by your examiner David Harrowven. We can also predict some of the areas that questions will cover from the guidance already given by this examiner.Use the following tips as important areas to cover but remember that no one knows what is in the exam, apart obviously from the examiner. Your safest best is to achieve good syllabus coverage in your revision, as the examiner aims to do in the exam.

Question one

This question will cover income tax. Key areas expected to be tested are profit adjustment and capital allowances for a sole trader and the benefit rules for an employee. Smaller areas like property income and investment income could be bought into the computation with a number of marks being allocated for return submission and payment of tax dates.

Question two

Question two will cover corporation tax. Profit adjustment and capital allowances for both plant and machinery and industrial buildings allowances are regularly incorporated into this question. Smaller areas like property income and capital gains involving rollover relief are also likely.
Groups or overseas aspects could appear in part b).

Question three

This question will cover capital gains tax. The question will be split into a number of different disposals, covering part disposals, shares and securities, chattels and gift relief.

Question four

Income tax losses or partnerships are likely candidates for this question

Question five

VAT focusing on registration rules, calculation of VAT liability, special schemes like cash accounting and annual accounting.

FTC Kaplan Exam Tips

Following are the Exam Tips by FTC Kaplan that are likely to apper in December 2007 sitting of F6 Taxation.

• Income Tax,  Income from employment, Income from self, the computation of taxable income and income tax liability, the self assessment system
• Corporation tax, Profits chargeable to corporation tax [in particular, the allowable expenditure in calculating the tax adjusted trading profit, capital allowances, property business profits, and relief for trading losses.
• Value Added Tax, the circumstances of registration, the computation of VAT, the  annual accounting scheme.
• Capital Gains Tax, Computation of capital gains, computation of the amount of allowable expenditure for a part disposal, computation of a chargeable gain on disposal of a chattel, computation of exemption when PPR is disposed, Share identification rules – Individuals, Computation of capital gains tax payable by Individuals, Exemptions and reliefs