PTC - Question???

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:09AM in AAT student discussion
Can anyone answer this question for me, I have been revising expensive accomodation, our tutor told us the taxable benefit was 10% of figure above £75000, but in the answers of a tax exam it says 5% above £75000, which is the right answer please??<BR><BR>Most grateful to anyone out there cramming today, knowing that tomorrow all exams would have finished hooray!!</i> >><br><br>

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    PTC - Question???

    I'm pretty sure its the revenue's current 'interest rate' (i.e the rate you'd use if you got a cheap rate loan from your company as a BIK). Currently thats 5% I believe..........<BR><BR>Best of luck for tomorrow :-)
  • System
    System Posts: 100,534 🤖 Admin 🤖
    PTC - Question???

    Yeah, that's it. It's the official interest rate for and value over £75,000<BR><BR>Good luck
  • System
    System Posts: 100,534 🤖 Admin 🤖
    PTC - Question???

    That should read "over" - don't know why I typed "and over" - sorry
  • System
    System Posts: 100,534 🤖 Admin 🤖
    PTC - Question???

    that red wine HASNT worn off :-)
  • System
    System Posts: 100,534 🤖 Admin 🤖
    PTC - Question???

    Hi Tigercat<BR>No, I'm not sure what went wrong there! I should check what I've typed before I send it eh?<BR>I've just replied to the other thread you put on. I didn't see it yesterday - busy in the office :-(<BR>I'm trying to get work-stuff out of the way so I can revise for tomorrow.<BR>I think my head must be spinning - I can't believe I couldn't spell skim the other day. Mental block ( 12.5% proof mental block!)<BR><BR>Cya<BR>Glenn<BR><BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    PTC - Question???

    Thanks very much, getting back to capital gains tax now!!!<BR><BR>Good Luck to all<BR>

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