- This topic has 2 replies, 2 voices, and was last updated 1 year ago by .
Viewing 3 posts - 1 through 3 (of 3 total)
Viewing 3 posts - 1 through 3 (of 3 total)
- You must be logged in to reply to this topic.
OpenTuition recommends the new interactive BPP books for March 2025 exams.
Get your discount code >>
Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Kit Question
Which of the following statements is/are correct?
1. When a business pays for fuel costs for an employee and there is some private use of the vehicle, a VAT charge will be payable even where the full cost of the private fuel is reimbursed by the employee, with output VAT being payable on the reimbursed fuel
2. When a business pays for fuel costs for an employee and there is some private use of the vehicle, a VAT charge will be payable if the employee does not reimburse the employer, with output VAT being due based on a prescribed scale charge.
Answer: 1is wrong and 2 is correct. Can you explain 1st statement?
Both are correct*
This topic is fully covered in the Open Tuition chapter on VAT