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Inserting 0, nil and exempt

Forums › ACCA Forums › ACCA TX Taxation Forums › Inserting 0, nil and exempt

  • This topic has 1 reply, 2 voices, and was last updated 5 years ago by f6ali.
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  • September 25, 2020 at 10:17 am #586622
    nadiranks
    Member
    • Topics: 25
    • Replies: 59
    • ☆☆

    Hi I think I need a bit of clarification on inputting these into my columns when doing the tax paper. for example doing income taxes when there is a loss must NIL be inserted or can I put 0. for exempt items do we write exempt or 0 and in which instance would it be marked incorrect?
    Thank you.

    September 25, 2020 at 7:17 pm #586722
    f6ali
    Member
    • Topics: 10
    • Replies: 341
    • ☆☆☆

    You should always put 0 instead of Nil. This will avoid any formula errors that may possibly arise. It’ll save your time in exam as well.

    Good luck.

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