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decimal points & pro-forma of income tax computation

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › decimal points & pro-forma of income tax computation

  • This topic has 1 reply, 2 voices, and was last updated 5 years ago by Tax Tutor.
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  • June 5, 2019 at 8:14 pm #519231
    kingkongsajang
    Member
    • Topics: 95
    • Replies: 75
    • ☆☆

    1. if I get a tax liability of £1282.5 (so a decimal number) do I round it up or down? because the kaplan book rounded it down and I wanted to know if there is like a rule outside of maths.

    2. the kaplan textbook has total colume first (from left to right) followed by non-savings income, savings income and dividends income. It also writes basic rate or higher rate when doing the tax calculations – is this the standard format in the exam such that exam questions may require you to drag or fill in using this format, or can I use the one you suggested (which I much prefer)?

    Thank you.

    June 7, 2019 at 4:19 am #519478
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Rounding will not make a difference but it is clearly acceptable to do what Kaplan show.
    You can use whatever format that you choose as both are correct – as regards what an individual objective testing question may ask you to do well that is down to the examiner – you should be capable of using either format if required

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