Mock Exam Question Reference:
Q 1: Q1 M1 BPP
Q2 M3Q2 BPP
Q3: Q12 BPPK
Q4: Q 33 BPPK
Q5: Q 37 BPPK
Performance Report
Question 1:
- You scored (1) mark straight away by presenting your answer in nice form.
Calculation of shortfall of cash to cover the expenses was calculated perfectly which earned you (4) marks.
Option 1- your scored (3) marks here and your answer was perfect.
Option 2- your answer to this part was perfect and earned you scored (4) marks here.
Option 3- Your answer to this part this spot on and earned you (4) marks in this part.
Option 4- Answer to this part is perfectly written and you scored (3) marks in this part.
Your total score in this part of the question is (18) out of possible 21, you lost couple of marks for your weak knowledge or vague answers about Stamp duty. Simply writing that “Stamp duty is not payable in this case” will not earn you any marks. Explain why it will or will not be payable.
- This part was all about writing and no calculations were needed. Your answer was perfect except “cost of administering overseas property” which was omitted; you also did not explain what qualifying trade is for BPR. You scored in this part is (8) out of possible 10.
Your answer was presented Methodically & professionally and you earned (4) presentation marks.
Your Total score in this question is 30 out of possible 35
Question 2:
You ignored“de grouping charge” and “Substantial shareholding exemption” and lost some easy marks. You said sale will be at no gain no loss because its parent and subsidiary, its wrong. This is because its a CGT group that’s why sale will be at no gain no loss. You lost one easy mark here. Please remember it’s not F6 Exam where only calculations are needed, its P6 exam where you need to write commentary and explain your calculations. Identify in the question why this information is given? Examiner does not give any information without purpose. Always incorporate all information in your answer to maximize your marks.
- Sale was at non gain no loss because of Chargeable gains group, you lost mark here.SSE will be available if both companies are trading companies; De grouping charge needs to be explained too. There was 8 marks allocated to commentary in this question of which you gained (2) For calculation there were 3 marks, and you gained (3) marks of it.
- Now this part asks to “calculate” so majority of marks are for calculations. You did well in this requirement and scored maximum marks in part (i) and you missed part (ii) of it which seems to me is because of not reading the question carefully. Part two was exactly same but payment was dividend instead of bonus so you lost very easy marks here. Always read the question carefully and re check after finishing the question if you have attempted all the required tasks. Take highlighter in exam if it helps & highlight key terms so you wont miss any part. You scored (6) marks in this part.
- This is typical “Ethics” question which you can expect in almost every P6 UK exam. You scored (3) marks out of possible 5 in this part. You said Nondisclosure is tax evasion, its not right way to say. You should have said, it could be tax evasion. This is very very easy and very very important area to secure 5 marks in P6 paper. Revise it and do couple of questions more on it.
You scored total of 14 marks in this question out of possible 25.
Question 3
- It was commentary part as it says in question “Explain” so no calculations were necessary. There were couples of marks for explaining the circumstances when CGT could be paid in installment, relating these rules with scenario and explaining further why or why not in this case CGT will be paid in installment would have earned you marks. You scored (5) marks here and you did not explain that all the CGT will be paid immediately if building is sold as it was transferred from connected person for CGT purposes. Always ask yourself after finishing part of a question (Did I raise enough valid ideas according to marks allocated to this part?) one idea = 1 mark. Another important tip is always highlights word “AND” on question requirement, it means examiner is asking you to do this AND do that.
- This part was again about writing and no calculation was needed. It asked to tell what would be penalty because there was error in Tax return of previous tax year. Your knowledge about self-assessment seems very weak as you did not attempt this part, revise it, you scored (0) marks in this part. Maximum penalty in this was 30% of Potential lost revenue to HMRC, which may be reduced to minimum of 15% depending on your circumstances.
- Most of this part was about calculation, one of candidate’s favorite. Most of Your calculations were right but you missed few things, you did not explain how much additional IHT is payable as it was asked in the question how much IHT will be payable after you know about additional information. Another missed thing was calculation of interest which was so easy. You scored (7) marks in this part. Revise your IHT theory.
Your Total marks in this question are 12 out of possible 20
Question 4:
- “Explain with support of calculations” means more explanation less calculation. You well here and scored full (3)
- This was again about close company winding up and giving some dividend to shareholders and some building to participant. Your close company theoretical knowledge is very weak and needs revision. Capital gains tax is also weak. You gained (1) mark here out of 7.
- Most of your calculations of CT liability were done well. You however overlooked interest, it was non trade loan relationship rule here and lost some marks. You also did not show the workings of Sale of Rockette plc shares which was specifically asked in question. You scored (6) makrs in this part.
Your Total score in this part is 10 out of total 20
Successful Attempt
Score: 66%
I am Glad to say that you passed mock exam and with very good marks. Your performance was very good overall . your theory seems little weak and needs revision. You overlooked few requirements in questions where you need to improve. Presentation of answer was very well done.
Please Note If you attempted this mock under Exam conditions then chances are you will pass P6 UK in coming attempt however please also note although you did well in this mock exam but this is not an assurance of Passing Real exam of ACCA. So AccountancyTube does not accept any liability for variation in ACCA results. You may also want to read some general P7 Tips below.
Try & read all the tips which are pointed out, learn from mistakes and don’t repeat them in real exam. Read question carefully, what is being asked, take your time planning the answer, give special attention to words like “AND” in the question it is asking you to do two different things and marks are divided. Ask yourself why this piece of information is given to me in the question and what I can do with it. Improve theory of AccountacyTube notes & learn rules on finger tips. Do not spend much time deciding which optional question to choose. Do not write irrelevant stuff which wastes your time and effort, 1 good point is better than 5 irrelevant points, so spend time thinking instead of writing irrelevant stuff.
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