personal tax

meibaker

a petrol car with a listing price when new of £18,000, and emission rating of 190g/km, sylvia made a capital contribution of £2,000 towards the car, so what's her car benefit?
my answers: 26% x (18,000-2,000), but the answer did not deducted teh capital contribution, so am i misunderstand something here? thanks in advance

taskey

meibaker wrote: »

a petrol car with a listing price when new of £18,000, and emission rating of 190g/km, sylvia made a capital contribution of £2,000 towards the car, so what's her car benefit?
my answers: 26% x (18,000-2,000), but the answer did not deducted teh capital contribution, so am i misunderstand something here? thanks in advance

i would have done that too, unless the contributions are for personal use, then it is taken off after the % (i think lol)

SLM

To my knowledge any capital contribution is to be deducted from the benefit calculated:

26% x 18,000 = 4,680
4,680-2,000 = 2,680

Does this tie in with the answer supplied?

meibaker

SLM wrote: »

To my knowledge any capital contribution is to be deducted from the benefit calculated:

26% x 18,000 = 4,680
4,680-2,000 = 2,680

Does this tie in with the answer supplied?

no, the answer did not deduct the £2,000 at all!
maybe the answers i've have is a old version?? oh by the way, the question is from osborne book 2009/10, half exam 1
does anyone has the latest exams answers for osborne book??

jewels.p

Salary per P60 40,000
Car benefit
(£18,000-£2,000) x 26% 4,160
Fuel Benefit
£16,900 x 26% * 4,394
Holiday Vouchers 850

* Contribution towards private fuel has no effect unless all is paid for.

Employment Income 49,404

Above is the answer

meibaker

jewels.p wrote: »

Salary per P60 40,000
Car benefit
(£18,000-£2,000) x 26% 4,160
Fuel Benefit
£16,900 x 26% * 4,394
Holiday Vouchers 850

* Contribution towards private fuel has no effect unless all is paid for.

Employment Income 49,404

Above is the answer

thanks so much, so the answers i've have is wrong then! i thought so!
where did you get all your answers from? could you mind send me a copy please

jewels.p

meibaker wrote: »

thanks so much, so the answers i've have is wrong then! i thought so!
where did you get all your answers from? could you mind send me a copy please

Hi Meibaker,

I have the answers written down but I have no way of emailing them to you. I will help if you get stuck on any though

meibaker

jewels.p wrote: »

Hi Meibaker,

I have the answers written down but I have no way of emailing them to you. I will help if you get stuck on any though

no problem jewels, thanks anyway!