Ahmed uses his own car for business travel. During 2019/20, Ahmed drove £20,000 miles while performing of his duties. Ahmed's employer paid him 35p a mile. Which one of the following is Ahmed's taxable benefit from mileage allowance as per the UK tax laws? a. £2,500 b. £7,000 c. £4,500 d. None of the options

Ahmed uses his own car for business travel. During 2019/20, Ahmed drove £20,000 miles while performing of his duties. Ahmed's employer paid him 35p a mile. Which one of the following is Ahmed's taxable benefit from mileage allowance as per the UK tax laws? a. £2,500 b. £7,000 c. £4,500 d. None of the options

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter3: Computing The Tax

Section: Chapter Questions

Problem 37P

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The Net Income of Mr. Richard was £130,000 during the tax year 2019-2020. He travelled 10,000 miles for business trip by his own car. His employer paid him 0.50 penny per mile for each business mile. His taxable income after mileage allowance was £: a. 112,500 b. 125,000 c. 130,500 d. 135,000
38-Said uses his own car for business travel. During 2019/20, Said drove 10,000 miles while performing of his duties. Said employer paid him 20p a mile. Which one of the following is allowable deduction from Said's employment income as per the UK tax laws? O a. £4,500 O b. None of the options O c. £2,500 O d. £2,000
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