Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › ACCA Mock – Pre Sept 23 MCQ 2
- This topic has 1 reply, 2 voices, and was last updated 9 months ago by
JillyB.
- AuthorPosts
- November 25, 2023 at 1:54 pm #695473
Kasper is employed by CK Ltd. On 6 April 2021 he was provided with a computer worth £3,200 for private use. On 1 January 2023 CK Ltd gave Kasper the computer when it had a market value of £1,500.
-£2080
-£2560
-£3200
-£1500So I thought it was the higher of MV when gifted vs MV when first available less BIK during time of use.
so higher of £1500 or £3200-(£3200*0.2)-(£3200-0.2/12*9)=£2080. Therefore I had put £2080 as my answer.
However on ACCA, the answer is £2560. Why do you only deduct the 21-22 benefit???
this is the answer on ACCA.‘£2,560
2022-23:
Use of computer until 31 December 2022: 20% x £3,200 = £640 x 9/12 = £480
Gift of computer on 1 January 2023:
Higher of:
Market value at date of gift £1,500
Market value used for benefits calculation less amount assessed: £3,200 – £640 (2021-22) – £480 (2022-23) = £2,080 ‘It does all the same calculations but then gives a different answer at the top?
November 26, 2023 at 11:13 am #695524I agree but…
The benefit is the higher of these two AND the BIK until December
2080 +480 = 2560 - AuthorPosts
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