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Cash basis on motor car

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Cash basis on motor car

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by Tax Tutor.
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  • Author
    Posts
  • April 26, 2021 at 9:30 am #618874
    mainai92
    Participant
    • Topics: 11
    • Replies: 16
    • ☆

    On 1 June 2020 Ethel paid a car dealer £14,000 by cheque for a car with CO2 emissions
    of 105g/km. She also made payments totalling £3,000 related to the running costs of
    the car for the year. She has used the car 40% of the time for private purposes and she
    drove 11,000 business miles during the year.

    If we use the cash basis, cash payment for the car and the running cost are allowed or not? if not, can you please explain why?

    The business miles will be calculated as per rate allowed 45p and 25p right?

    Thank you

    April 29, 2021 at 1:43 pm #619187
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Please see page 41 of the study notes, chapter 6 section 3 and accompanying example

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