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I was studying from last years taxation Kaplan exam kit and all the exam questions seem to have a formula for petrol, how is this calculated this year?
Thanks
Stefan
Firstly there are no capital allowances on petrol expenditure!! You may have to compute an employment income fuel benefit for the employee and the fuel benefit figure is provided on the tax rates and allowances information given on the exam paper. If you are using a FA 2016 exam kit then DO NOT as this is out of date! Study from the OT notes and lectures and revise from an exam kit for FA 2017 from one of the approved ACCA providers
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