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Roundings

Forums › ACCA Forums › ACCA TX Taxation Forums › Roundings

  • This topic has 4 replies, 2 voices, and was last updated 2 months ago by mrjonbain.
Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • November 22, 2022 at 5:24 pm #672087
    LBT21
    Participant
    • Topics: 1
    • Replies: 2
    • ☆

    What are the rules around rounding’s in tax? do we generally round down to reduce liability?

    Do ACCA give room regarding rounding’s in the exam?

    Thanks in advance

    November 23, 2022 at 4:14 am #672109
    mrjonbain
    Moderator
    • Topics: 1
    • Replies: 1558
    • ☆☆☆☆☆

    Here is a thread about this very subject-

    https://opentuition.com/topic/rounding-numbers-in-taxation/

    November 23, 2022 at 4:18 am #672110
    mrjonbain
    Moderator
    • Topics: 1
    • Replies: 1558
    • ☆☆☆☆☆

    I would think the answer given in thread would still apply six years later. If you want to confirm this is the case please also ask in the ask the tutor forum-

    https://opentuition.com/forum/ask-acca-tutor-forums/ask-the-tutor-acca-taxation-tx-uk-exams/

    Hope this helps.

    November 27, 2022 at 2:06 pm #672748
    LBT21
    Participant
    • Topics: 1
    • Replies: 2
    • ☆

    Thank you Jon, appreciated.

    November 27, 2022 at 2:26 pm #672749
    mrjonbain
    Moderator
    • Topics: 1
    • Replies: 1558
    • ☆☆☆☆☆

    You are welcome.

  • Author
    Posts
Viewing 5 posts - 1 through 5 (of 5 total)
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