PTC Exam

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Did anyone else ignore the fuel calculation as he paid all the running costs himself????

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    PTC Exam

    <BR>Yeah i ignored it just did the o2 emissions calculation and deducted his contribution!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    PTC Exam

    me to so thats 3 of us!!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    PTC Exam

    Thank god for that, when I came out everyone else had calculated the fuel benefit and I thought I must of read it incorrectly. Anyone else calculate on 9 months for the petrol car and 3 months for the diesel car
  • System
    System Posts: 100,534 🤖 Admin 🤖
    PTC Exam

    yes yes yes yes!<BR>but i was stuck on gift aid & payroll giving.<BR>do u think i'll fail just for that task?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    PTC Exam

    no way its only one task and all blurb dont worry<BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    PTC Exam

    i also messed up the painting 5/3 rule <img src="i/expressions/face-icon-small-sad.gif" border="0">
  • System
    System Posts: 100,534 🤖 Admin 🤖
    PTC Exam

    Do you know if you were meant to gross up the personal pension. I deducted it off his income but could not remember if it was meant to be grossed up 100/78 like gift aid
  • System
    System Posts: 100,534 🤖 Admin 🤖
    PTC Exam

    oh no!<BR><BR>how much did that come to?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    PTC Exam

    You don't gross up the pension contribution if it's a company pension, do you? you just calculate it with the % given, and deduct it from the income. it wsn't a personal pension, but a company one, wasn't it?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    PTC Exam

    how much did what come to wilsonleong?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    PTC Exam

    so its just if its a personal pension you gross it up??? is that correct, if so i feel much better 1680 or something like that deducted from his income.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    PTC Exam

    cool!<BR>i think i remember 1680 somewhere.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    PTC Exam

    You only gross it up when its a personal pension and then it is adjusted against the basic tax band. As this was a company pension it is deducted before paye, so it is a gross figure. All you had to do was take his salary figure and use the % figure he put in - I think it was 5%. This is then deducted from his gross salary.<BR><BR>Think this was the best of the papers I have taken this week, so much easier than Business tax and PEV we won't talk about. Feel so relieved it is now over.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    PTC Exam

    pension scheme deductible (as allowable expenses)

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