Jackie, a higher paid employee, has an 1000cc, diesel van which was first registered in 2017 when it had a list price of £20,000 and produces emissions of 95g/km of carbon dioxide. Fifty per cent of Jackie's mileage was for business purposes and she makes no contributions towards the cost

CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN:9780357110362
Author:Murphy
Publisher:Murphy
Chapter10: Cost Recovery On Property: Depreciation, Depletion, And Amortization
Section: Chapter Questions
Problem 75IP
icon
Related questions
Question
Jackie, a higher paid employee, has an 1000cc,
diesel van which was first registered in 2017 when
it had a list price of £20,000 and produces
emissions of 95g/km of carbon dioxide. Fifty per
cent of Jackie's mileage was for business purposes
and she makes no contributions towards the cost
of the van and she has the van for the whole year
and has a satellite navigation system fitted as an
accessory to the van (not standard) costing £250.
Calculate the taxable benefit.
A
£3,170
В
£3,200
£3,430
£3,490
Transcribed Image Text:Jackie, a higher paid employee, has an 1000cc, diesel van which was first registered in 2017 when it had a list price of £20,000 and produces emissions of 95g/km of carbon dioxide. Fifty per cent of Jackie's mileage was for business purposes and she makes no contributions towards the cost of the van and she has the van for the whole year and has a satellite navigation system fitted as an accessory to the van (not standard) costing £250. Calculate the taxable benefit. A £3,170 В £3,200 £3,430 £3,490
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
CONCEPTS IN FED.TAX., 2020-W/ACCESS
CONCEPTS IN FED.TAX., 2020-W/ACCESS
Accounting
ISBN:
9780357110362
Author:
Murphy
Publisher:
CENGAGE L