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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › personal taxation services for the director
The auditor should also consider the appropriateness of personal taxation services being billed to the company. Indeed, the preparation of Mr Blackers’ personal tax return may be a taxable benefit which should be included in his tax return and the fee for this service may need to be reflected in his director’s loan account with the company.
ma’am I didnt quite get this! the taxable benefit(attributable to the company) will reduce the tax service fees for the director? and that will be legal?
Assumed knowledge of TX – if a company provides a director/employee with a car/accommodation or pays some personal expense, the benefit is taxable on the individual (hence “HIS tax return”) – otherwise a company could pay all remuneration “in kind” and the individual would pay no tax (!!!)