personal tax

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

Comments

  • taskey
    taskey Registered Posts: 1,800
    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
    SLM Registered Posts: 64 ? ? ?
    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
    meibaker Registered Posts: 481
    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
    jewels.p Registered Posts: 1,774
    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
    meibaker Registered Posts: 481
    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
    jewels.p Registered Posts: 1,774
    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
    meibaker Registered Posts: 481
    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!
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