hi Sir,
regarding part (a) , when calculating the tax liability for william wind, list price for car is restricted to £80,000 instead of given £83,100 list price so i just want to clear out about any restrictions while calculating the car benefit.
thanks.
Ask the Tutor ACCA TX-UK
dec 2011 q1 part a
Because it is a maximam limit for car and in terms of percentage is 35%
The maximum list price of £80,000 does NOT now exist so there should be NO restriction. I repeat again to all students only attempt past exam questions when you have answers updated for Finance Act 2012 - do NOT use ACCA website as these answers have not been updated!! I would also ask participants however well intentioned not to give answers on the ask the tutor forum as this may be misleading to other students.
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