Summary Latest ACCA P6, ADVANCED TAXATION (ATX – UK),Revision kit Eratta (PDF) for exams in JUNE 2018, STEPTEMBER 2018, DECEMBER 2018 and MARCH 2019

ACCA Advanced Taxation
(ATX – UK) (P6)
ERRATA SHEET: May 2018

PRACTICE AND REVISION KIT For exams in June 2018,
September 2018, December 2018 and March 2019
Updated: 1 May 2018

Question 10 Ash (12/12)
The sale of the two acres of land:
Replace the second bullet point as follows:
 Ash sold 6 acres of the land for £42,000 on 1 August 2011.


Answer to Question 6 Monisha and Horner (12/13) (amended)
In part (a) replace the computation of income tax saving with the following:
Income tax

£
Half property income continued to be taxed on Monisha
Income tax saved in all 6 tax years
£((5,550 (W1)  ½) – (13,200 (W2)  ½  40%))  6 810
Half property income now taxed on Asmet
Income tax saved in first 5 tax years £((5,550 (W1)  ½) – 0 (W2))  5 13,875
Income tax saved in final tax year £((5,550 (W1)  ½) – 1,320 (W2)) 1,455
Total income tax saved 16,140

In part (a) replace the computation of total tax saving with the following:
Total tax saving

£
Income tax saving 16,140
Capital gains tax saving 18,176
Total tax saving 34,316