Registered AITI Tax Qualification Info and Questions

TheScriptFan

6ix wrote: »

First of all - best of luck to everyone doing the exams!

I'm not doing them, but my girlfriend is and she's at the extreme worry stage. She's asked me to ask a question on here, so if anyone can answer it, she'd be grateful:

Were any pointers given at the revision lectures for the Part3 PATAE exam as to what might be on the paper?

Thanks!

Hi there...our guy said:

Revenue Audits
Intellectual Property regime
Transfer pricing
R&D Credit
Start up companies
Share for Share
S400/S401
Foreign Employees remittance basis
Vat on property
S600
Retirement relief (incl CAT/BPR)
Groups s617/s627/s623
Exit tax

Hope this helps!

TheScriptFan

Coffee Addict wrote: »

Hi
Sorry if this is a stupid question, but what is the difference between ex-works & CIF?
Thanks

Hi there,

Exworks - Buyer is responsible for everything. Delivery is at warehouse usually.
CIF - Shipper is responsible for insurance & freight. Delivery is at port of destination.

heffelump

A huge thank you to Scriptfan. You have been so helpful all the way along esp with your lists you put the time into posting. I have no doubt you'll do very well.

beeftotheheels

Advice from an old timer - take a deep breath and relax. Take the time to figure out how much time you should spend per question (length of exam x points per question/ total points per paper), and spend only that time!

You will panic.

So concentrate on what you do know rather than stressing about the bits you don't know. You know a lot more than you will think you do under the stress of an exam.

If you can manage to take this advice on board (which will be difficult, because you will panic) it will be more valuable to you than any implications as to what may appear in any given paper.

Imagine that you are expecting A, B & C to appear in a particular paper. On the day X, B & C are on the paper. You will read the question on X and panic, and fail to recognize that B & C are there, and you can deal with the questions on B & C. If you take a deep breath and relax, you realize that B & C are questions that you are able to deal with, so you do those first, and then you attempt X. And if you run out of things to say on X, you spend the extra time bumping up what you have to say on B & C.

6ix

TheScriptFan wrote: »

Hi there...our guy said:

Revenue Audits
Intellectual Property regime
Transfer pricing
R&D Credit
Start up companies
Share for Share
S400/S401
Foreign Employees remittance basis
Vat on property
S600
Retirement relief (incl CAT/BPR)
Groups s617/s627/s623
Exit tax

Hope this helps!

Thanks so much for that, much appreciated. Best of luck next week!

gingerhousewife

Hi all, can't believe the exams are nearly upon us! But to be honest I'll be glad to get them over with and put the books away (for a couple of months at least!)

Good luck to everybody, and just a warning for anyone sitting the exams in Cork or Dublin to be aware of the traffic restrictions in place next week due to the visit of the queen of England. There is a bulletin on the Exams section of the TaxIreland website re same.

Legend100

I agree about just wanting to get them done, i don't feel confident at all (esp in personal tax) but i am sick of studying at this stage and want to just have them out of the way!!

Best of luck to everyone for the week

TheScriptFan

Best of luck everyone to-morrow...I still have sooo much to do for to-morrow...will be a long day..and even longer night! Wish I had more time..or that I hadn't wasted so much time over the last 3 weeks..either of those scenarios would work!! Oh well..ate least the flipping things will be over soon!

pigeonbutler

Am I getting 11th hour insanity or is this file coming up blank?

http://taxireland.ie/documents/general/Advanced_Business_Taxes_Exam_Technique.pdf

Legend100

it is working for me

heffelump

TheScriptFan wrote: »

Best of luck everyone to-morrow...I still have sooo much to do for to-morrow...will be a long day..and even longer night! Wish I had more time..or that I hadn't wasted so much time over the last 3 weeks..either of those scenarios would work!! Oh well..ate least the flipping things will be over soon!

+1 to all of that!!!

Best of luck to everyone this week. It's gonna be a tough one!

heffelump

pigeonbutler wrote: »

Am I getting 11th hour insanity or is this file coming up blank?

http://taxireland.ie/documents/general/Advanced_Business_Taxes_Exam_Technique.pdf

I can open it but sometimes my laptop van be temperamental with adobe docs so just make sure u have no other pages open when you try it or if you want to send me ur email I'll Copy it into a word doc for u

beeftotheheels

Just a reminder everyone to get to the exam centers in plenty of time. If you get there early you have a bit of time for some last minute cramming, if you get there late then you'll be heaping additional stress on yourselves.

And have a look for anything which could delay you tomorrow from road works to royal visits. Roadworks caused me to be late for one of my exams and I thought I was going to have a heart attack before I even sat down (even though I was only 3 min late).

Best of luck all.

Blooming

Best of luck all Part 3's!! This time next week ye will be well hung over

wgk

Well what is the general consesus on the paper? No need for postmortems I suppose but I think i had 3.5 questions down decently and those last 1.5 were utter S***e! Hopefully I've done enough cos dont think I could face a repeat of that! 1 person got up after a few mins in my exam centre so would be interested to see what the general consensus was.

wikigreen

wgk wrote: »

Well what is the general consesus on the paper? No need for postmortems I suppose but I think i had 3.5 questions down decently and those last 1.5 were utter S***e! Hopefully I've done enough cos dont think I could face a repeat of that! 1 person got up after a few mins in my exam centre so would be interested to see what the general consensus was.

yeah few people left my exam centre at the start too....and in between. Thought it was a tough paper, appreciate its part 3 and all but thought it was a paper designed to fail people.

The trust question was ridiculous...but its done and dusted now.

Hopefully business will be a little more candidate friendly..

Gary7

anyone know what was tipped in the revision course for business & indirect? Know its late in the game, but every bit helps and the tips on income were pretty on the ball! Cheers

Coffee Addict

Not a great paper at all.
It was the one that I had put most work into & the thoughts of seeing it again in August yuck!!!
A few people left the exam hall.
Very quiet when the exam was over & everyone was walking out.....not like it was for part 1 & 2s..... so that may give you an indication as to the general consensus.
Anyway good luck to everyone tomorrow!!

heffelump

Thought it was a horrible paper, worse than any previous ones and def designed for candidates to fail. Examiner was obviously in an evil mood setting this. Completely agree about the trust question. I'll definitely be repeating.

A friend who passed ITI said to me passing tax exams is like getting a golden ticket to the chocolate factory. I think I know what he means now!!

Fingers crossed for BT. Surely it can't be worse?!?!

Legend100

Again agree on the trusts question...and i attempted it to top things off. Saw question 3 and wasnt going near it but probably should have looking back

Ah well...kinda thought that it would be very tough so i wont be too surprosed if im there again in the Autumn. Just hope the next three are do-able. Alot to do for tomorrow though!

jarvis_c82

I'm a repeat student so I'm only doing 2 exams. I have to agree with everyone else that it was a difficult exam. I've always found that the step between Part 2 and Part 3 is ridiculous. It feels like you are missing a year between them.

It seems that after you finish exam at Part 3 feels like you have been hit by a bus as you are physically and mentally feel like mush.

wgk

How did people find today?

It could have been a lot worse for me thank god, took a chance in skipping a lot of the foreign tax stuff - was glad to see it was light on that!

The retirement relief and S.600 question was a bit random - makes me nervous for Friday re what they will throw at us!

gallyer

well felt better leaving the exam today than yesterday. Think yesterday was shocking!!

Today was a little better, managed to get three and a half decent questions and attempted the other 1 and half. Thought questions 1 3 and 5 were ok, also did 2 and 4 but didnt do great in them to be honest. Without the whole post mortem thing wat relief was appropriate for question 4? Im pretty sure I made a mess of that question!!

wgk

That was the question I left out, with all that 2 party swap and 3 party swap stuff swimming around in my head I just thought it better to leave it! A lot of the stuff in the other questions was very Finance Act 2009/2010 topical like the xfer pricing, royalties witholding tax, capital allowances on intangible assets, start up relief.

gallyer

Yeah i wish i left that question out, i tied myself in knots doing it and spent too long on it - all the while just confusing myself more!!

TheScriptFan

gallyer wrote: »

Yeah i wish i left that question out, i tied myself in knots doing it and spent too long on it - all the while just confusing myself more!!

I found yesterday absoloutely shocking, tied myself up in knots...todays was much better. I left out question 4 aswell. Took one look at shares and said nooooo way!!

ramacc

TheScriptFan wrote: »

I found yesterday absoloutely shocking, tied myself up in knots...todays was much better. I left out question 4 aswell. Took one look at shares and said nooooo way!!

yeah today was a fair paper .. personal tax was overburdened with anti avoidance and dta's!:mad:

hopefully the vat will be doable .and that the fridays case isn't on share for share i'm still dizzy thinking about it!. Best of luck everyone with the remainder

Ethics2011

Anybody got any ideas on the best way to go about cramming for this Ethics paper on Friday? I thought it was going to just be an amalgamation (hehe!) of the other 3 papers, but from going through the manual there's a looooooad of stuff.

I've gone through the first 4 chapters, but once you start hitting "Start ups" and the rest it's a torturous slog going through them. Do you reckon I'm better just concentrating on testing myself on exam papers at this stage or reading through the rest of the manual? I suppose realistically I only have from 2 on Thursday till 2 on Friday......stressed.com.

wgk

Personally I think just concentrate in the revenue audit question, it's bound to be the biggest question with the 2010 code introduced and our lecturer made the point if you do well on that your well on your way to passing anyway! The rest of the course is so broad u just have to dig deep and do a bit of a brain dump to get you across the line! But that's just my opinion but I know I would freak out at the thoughts if trying to cover everything properly in the space of a day!

Ethics2011

Hey

Thanks.

And when you say cover the Revenue Audits question, do you mean cover chapter 2? I have that done already (except to actually go over it and learn it!). Given that the code only came out in 2010, does that mean that any past papers with respect to revenue audits are somewhat irrelevant? Do we have a sample question that we can use for revenue audits on the new code??