Personal Tax
mini_schnauzer
Registered Posts: 347 Dedicated contributor 🦉
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!
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!
0
Comments
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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!0
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Many thanks0
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