I am currently writing up the provisional gradings for your final coursework reports. I am doing them in the order they were submitted on Blackboard. You should all have your provisional grades by the end of this week.
Over the next few days, I will be publishing a series of posts on this blog to discuss the main techncial issues that arose out of this case study. I shall be covering:
- Hire purchase v leasing (capital allowances as well as VAT)
- VAT Flat Rate Scheme (FRS)
- Pre-registration VAT
- Caluclating Potential Lost Revenue (PLR) and penalty ranges
- Employer obligations
- Capital allowances and loss reliefs
If there are any areas I’ve not included but where you would appreciate detailed technical feedback, please let me know.
Some of the issues that you covered in this case study, may well reappear in the examination. For example, the rules for PLR and penalty could apply to any of the taxes we’ve studied; and plant & machinery are used by businesses of all sizes and legal forms. I will highlight those areas to which you should pay particular attention.