C
calibre2001
Member
In the examiner’s comment it was mentioned that:
My question is whether candidates lose marks for not grossing up the LATP (previously NCI) with the OLTB (previously GRB) profits in their workings yet get the correct final taxable figures?
Thanks all.
This question was answered well by candidates who were well prepared, with a number of candidates gaining full marks. However, a common mistake was to tax the GRB at 20% rather than 28%. Also, candidates tended to ignore the GRB when comparing “I-E” with NC1.
My question is whether candidates lose marks for not grossing up the LATP (previously NCI) with the OLTB (previously GRB) profits in their workings yet get the correct final taxable figures?
Thanks all.