Employment Income – Taxable Benefits: Motor Cars and fuel – ACCA Taxation (TX-UK)
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EG 4. Lewis was provided with the car ON 6 August 2018. therefore it should be that he only had use of the car for 4 months not 8 months. shouldn’t it 4 months out of the 12 months?
my apologies i did a calendar yr not a tax yr
Hello tutor,
I’m a bit confused about the base figure with respect to fuel benefits.
From Kaplan (study text applicable for March 2020) the base figure is £23,400 but this video says £22,000.
Please confirm if this is applicable for December 2019 and March 2020 exams
Thanks
Hey, it’s 23,400.
If you look at the Open Tuition Tax Notes … page 59, it says the base figure is 23,400.
Thanks Jinjen
Does it mean the lecture videos are not updated?
I just want to know if I can rely on the videos
Hi,
What would happened if for example listed price was 20,000 and employee contribution was to pay 100 every month which give us 1200 for the year. 20000-1200=18800, what would happen in the year 2 if employee again paid additional 1200. Would it will be 20000-1200 or 20000-2400 (as employee paid it all together for 2 years)?
Hello Lecturer,
I just realized the answer for example 5 , 22600 was considered as the list price while question was having different list price respectively .Is there any reason behind ?
Hi, You’re looking at the answer for example 5, have a look at the answer for example 4.