Personal Tax, Level 4, Round up or down?
hmarsh2
Registered Posts: 5
Hello
There is a conflict of answers on Task 1 of the Personal Tax, Level 4, question.
On Task 1 the answer to the 'taxable benefit on provision of the car' is £1356.6666666. In the question it says to show monetary answers in whole pounds. In FA2013 the correct answer is £1357 but in FA2014 the correct answer is £1356.
Is it correct to round up or to round down? I am confused.
There is a conflict of answers on Task 1 of the Personal Tax, Level 4, question.
On Task 1 the answer to the 'taxable benefit on provision of the car' is £1356.6666666. In the question it says to show monetary answers in whole pounds. In FA2013 the correct answer is £1357 but in FA2014 the correct answer is £1356.
Is it correct to round up or to round down? I am confused.
0
Comments
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This is becoming a weekly recurring question!
In practice, always round in favour of the taxpayer.
In the exam, various discussions have suggested you will get the mark either way, unless the question tells you specifically to round in a certain direction, although I don't know if this has ever been officially confirmed.0 -
This is the case; you're free to round however you want unless the question specifies a certain way (same in BTAX and ITAX).CeeJaySix said:In the exam, various discussions have suggested you will get the mark either way, unless the question tells you specifically to round in a certain direction, although I don't know if this has ever been officially confirmed.
Regards
I have now left AAT. If you require any assistance with the forums, please contact membership support: https://www.aat.org.uk/contact-us0 -
I get confused with it too I round up and the answer they round down, I round down and the answer is rounded up. I wish they would five us clear guidelines on this.0
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We can pass on your thoughts to the team that write assessments @leption but for now, assume you can round up or down unless otherwise stated in the question.I have now left AAT. If you require any assistance with the forums, please contact membership support: https://www.aat.org.uk/contact-us0
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