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Hi All,
I’m stuck on a questions and just want someone to check my logic.
Dave has a car in the tax year 11/12 for which I’ve worked out his employee benefit of 22% for but also on the 31/03/12 the company gave him the car with a market value of $5000.
Am I correct in thinking he should be charged for both the benefit he’s had from having the car & him receiving his car in his income tax computation?
James
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Hi Jay,
this is similar to the Moack exam question, I have inculded the car benefit in the Income tax calculation and also using the £5,000 as a gift which is also taxable.
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