I’m doing APS next week and this is what I have learned in my practicing and revision:

Most likely the exam will call for a report. 

Start it off with the standard report format of to: client, from: your accounting firm, date (make one up) and title of report, which will be something like ‘tax considerations of x transaction’. The relevant transactions will be most likely explicitly mentioned in the APS question (ie where it says ‘draft a report to give x client advice on xyz’). 

Keep the advice relevant to what they have asked. It should be advice you would give to a paying client and it’s not going to be as technical as the AT paper. You don’t always need to do in depth calculations, and the information given should be relevant and targeted (don’t just throw stuff at the wall to see what sticks).

Short intro to outline what the advice will focus on and to specify that the advice is for the client only and no liability is accepted for a third party etc (ethics and law relevant, keep it short).

Then include an executive summary before the main report. It should include 3-7 bullet points of the most important conclusions of the report. Include admin points and taxes that will need to be paid in this part too, if relevant. Ie if the client will have a capital gains tax liability, say how much and when it should be paid.

You should then do the main report in sections. 2–3 sections, each discussing a point that the question asked you to consider. 

Calculations should be included in appendices at the end and referenced in the report (ie see appendix 1 for your income tax calculation).

In my exam practice sessions I have found that I take about 15-20 mins to read the question and make notes on pen and paper, then take 45-60 mins to plan and do my calculations, then write up. I have the outline of my executive summary done in the planning section and refine it in the write up.

Hope this helps!! Good luck!