Personal Tax

mini_schnauzer

Hi

Do you round figures when calculating taxable benefit etc.
I have always been taught to round up (i.e. If the answer is £87.50, I would round it up to £88) - but my Kaplan book is rounding down, so the example would be £87.
Which is correct? Or is it best to show your workings to the pence then round the total benefit.

Thanks in advance for your answers!

Gem7321

In tax I was always taught to round whichever way is most beneficial to the taxpayer, so when it's calculating benefits round down. But always show your workings!

mini_schnauzer

Many thanks

taskey

Gem7321 wrote: »

In tax I was always taught to round whichever way is most beneficial to the taxpayer, so when it's calculating benefits round down. But always show your workings!

good to know

Tracy