Tx notes fa22 Final

June 2023 to March 2024 exams
Watch free ACCA TX lectures
Child benefit income tax charge 
Where income is between £50,000 and £60,000, the charge is 1% of the amount of child benefit 
received for every £100 of income over £50,000.
Property Income 
100% of property income finance costs are subject to basic rate restriction.
Car Benefit Percentage 
The base level of CO
2
emissions is 55 grams per kilometre.
The percentage rates applying to petrol cars (and diesel cars meeting the RDE2 standard) with CO
2
emissions up to this level are:
51 grams to 54 grams per kilometre 
15%
55 grams per kilometre
16%
A 2% percentage applies to electric-powered motor cars with zero CO
2
emissions. 
For hybrid-electric motor cars with CO
2 
emissions between 1 and 50 grams per kilometre. the 
electric range of the car is relevant:
Electric Range 
130 miles or more
2%
70-129 miles
5%
40-69 miles
7%
30-39 miles
12%
less than 30 miles
15%
Car Fuel 
The car fuel benefit is £25,300
Company Van benefit 
The company van benefit scale charge is £3,600 and the van fuel benefit is £688. Zero emission vans 
have a zero benefit charge.
Individual savings accounts (ISAs) 
The overall investment limit is £20,000.
Pension Scheme Limits 
Annual allowance
£40,000
Minimum allowance
£4,000
Income limit 
£240,000
Lifetime allowance
1,073,100
The maximum contribution that can qualify for tax relief without any earnings is £3,600.

---

9
Only on 
OpenTuition
you can find: Free ACCA notes 
•
Free ACCA lectures 
•
Free ACCA tests 
•
Free ACCA tutor support 
•
The largest ACCA community