Hey all, done a lot of googling and searching this forum and it seems the general concensus is not to stress to much about the tax portions of the solicitors exam. I am finishing up the business law section, the section culminating with "The Purchase and Sale of a Business", and it's dawning on me that I don't really understand much of the "tax considerations" that the materials talk about. Should I be spending more time trying to understand how it all works, or should I cut my losses?
For those of you without the materials, one area talks about tax considerations when allocating the purchase price in an asset sale. I sort of have a very high level understanding of it (although they never even explain what allocating the purchase price means), but I worry that on the exam I will have little idea of what to put as an answer.
Any help/advice is appreciated.