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Question 1a Note 7 Edward
Tax rates
TX 2014 Tax Rates and Allowances
Alfred and Edward King are brothers. They are trying to calculate their balancing payments for the tax year 2013–14, and the following information is available:
Edward King
(7) During the tax year 2013–14, Edward used his private motor car for business purposes. He drove 12,000 miles in the performance of his duties for Stately Ltd, for which the company paid an allowance of 35 pence per mile.
Required:
What is the allowable mileage allowance?