Capital Allowance Computation (B)

Question 1

1st step?

Answer 1

List any twdv b/f on pools and any non-pool assets at start of accounting period

Question 2

2nd step?

Answer 2

List expenditure qualifying for AIA, firstly special rate pool and then main pool

Question 3

3rd step?

Answer 3

Add any expenditure in excess of AIA limit to the relevant pool

Question 4

4th step?

Answer 4

Add to relevant pool the cost of any cars qualifying for WDA (e.g. cars with CO2 emissions)

Question 5

5th step?

Answer 5

Deduct sale proceeds, to a maximum of original cost, of assets sold during accounting period from relevant pool balance

Question 6

6th step?

Answer 6

Deduct sale proceeds, to a maximum of original cost from TWDV of any non-pool assets (e.g. private use assets) and compute relevant balancing adjustment

Question 7

7th step?

Answer 7

Compute available WDAs on TWDVs and deduct thereform

Question 8

8th step?

Answer 8

List any new electric xero emission cars purchased during accounting period and claim available 100% FYA

Question 9

First column?

Answer 9

AIA/FYA

Question 10

Second column?

Answer 10

Main pool

Question 11

Third column?

Answer 11

Special rate pool

Question 12

Fourth column?

Answer 12

Short life assets

Question 13

Fifth column?

Answer 13

Private used asset (40%) unincorporated only

Question 14

Sixth column?

Answer 14

Allowances

Question 15

What should happen with AIA column?

Answer 15

Should equal zero