Salim's employer purchased a TV for Salim's use on 6 April 2018 costing £500. On 6 April 2019, the employer gifted TV to Salim (its market value then being £200). Calculate the benefit to Salim for the gift of the TV in the tax year 2019/20 as per UK tax laws. O a. £400 O b. £100 O c. None of the options O d. £200

Salim's employer purchased a TV for Salim's use on 6 April 2018 costing £500. On 6 April 2019, the employer gifted TV to Salim (its market value then being £200). Calculate the benefit to Salim for the gift of the TV in the tax year 2019/20 as per UK tax laws. O a. £400 O b. £100 O c. None of the options O d. £200

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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