An important update to the MCT course will be released next week, covering various aspects on Taxation and Business Law.
We are planning to release a major update to the MCT course in April 2017 (about 30 pages), which will cover the new tax rates and allowances for the 2017-18 tax year which have been recently announced by the UK Government and take affect this week.
Among other topics, the update will also include the new tax allowances for property and trading income and the new main residence nil rate band. The April 2017 update will also cover the new insolvency rules which come into force this month (eg the 'cash flow or balance sheet tests').
The updated content will be relevant to the next MCT which is scheduled for July 2017 (and beyond), so it’s essential that you log in to your online account and carefully read through the documents once released. We will also include new practice questions in the MCT Online Training System covering these new and updated areas of law, to help you better understand the implications of the new laws. The updated content will be provided at no additional cost to all of our registered candidates.
According to the information conveyed to us by Kaplan a couple of weeks ago, candidates sitting the July 2017 and February 2018 MCT assessments would be expected to know something about the taxation rules for both the 2016/17 and 2017/18 tax years. Hence, Kaplan do not limit their testing of taxation issues to a single tax year for the QLTS assessments. The practice questions and 15 mock exams will reflect these guidelines.
You are also reminded that unless otherwise stated in advance by Kaplan, candidates are assessed on the law in force at the time of the assessment.
Understating the new laws and their implications is therefore imperative and could be the difference between failure and success in the MCT assessment.
If you are not signed up yet for QLTS School MCT Course, check our MCT course packages to ensure you are well prepared for the assessment.