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electric car tax rate

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › electric car tax rate

  • This topic has 5 replies, 4 voices, and was last updated 1 year ago by JillyB.
Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • May 4, 2024 at 6:06 am #704915
    Anonymous
    Inactive
    • Topics: 53
    • Replies: 46
    • ☆☆

    3. Rose is employed, and was provided with a hybrid electric company car on 1 July 2023. The car has a list price of £50,000, CO2 emissions of 39 grams per kilometre and an electric range of 52 miles. The employer also paid for road tax and insurance for the car, amounting to £800.

    What is the amount of Rose’s taxable benefits for the tax year 2023-24?

    A.£3,600
    B.£3,800
    C.£4,000
    D.£3,000
    The correct answer is D.

    £50,000 x 8% × 9/12 = £3,000

    the tax rate for 39g is 12%, is this answer wrong then?

    May 4, 2024 at 11:48 am #704931
    Sacca22
    Participant
    • Topics: 51
    • Replies: 59
    • ☆☆

    Check the electric range table in the rates pages for electric range of 52 miles.

    May 5, 2024 at 2:43 pm #704965
    jonelynnavarro
    Participant
    • Topics: 3
    • Replies: 7
    • ☆

    “For hybrid-electric motor cars with CO2 emissions between 1 and 50 grams per kilometre. the
    electric range of the car is relevant”

    May 6, 2024 at 11:00 am #704986
    JillyB
    Keymaster
    • Topics: 0
    • Replies: 899
    • ☆☆☆☆

    The answer is correct and your fellow students are right – check the tax tables

    May 8, 2024 at 6:50 am #705076
    Anonymous
    Inactive
    • Topics: 53
    • Replies: 46
    • ☆☆

    “For hybrid-electric motor cars with CO2 emissions between 1 and 50 grams per kilometre. the
    electric range of the car is relevant”
    missed it!..sorry , thanks everyone!

    May 8, 2024 at 2:50 pm #705102
    JillyB
    Keymaster
    • Topics: 0
    • Replies: 899
    • ☆☆☆☆

    no worries

  • Author
    Posts
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