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thank you for the lectures so far! great. Please how did you get the tax WDV B/F for 750. please help.
Just to clarify, you claim small pools WDA on both the general pool and the special rate pool at the same time?
(£1000 from the general pool and £1000 from the special rates pool for a total of up to £2000 allowances?)
What is the difference between example 1 and example 7. Why wasnt a balancing adjustment made in example 1? Is is the fact that a motor car was purchased after the disposal? Please explain.
Example 6 results in a balancing charge of £6,000. This is because the sales proceeds are higher than the tax written down value brought forward of £13,000. In fact, the sales proceeds of £20,000 are higher than the original purchase price of £19,000, so the disposal amount is restricted to this original cost (this answers the 2nd part of your question – always take the lower of original cost and disposal proceeds).
The resulting balancing charge is then added to the allowances column, which will reduce the amount of capital allowances for the period.
Can anyone give me the answer of Example 6?
Also disposal of car is always made on disposal proceeds rather than like disposal of plant and machinery in which we take lower off the original cost and disposal proceeds?
@zlip792, see above for answer
the WDA is only available if there is anything left after the disposal, which is this case we do have anything to claim the WDA. and in other word we have actually made a gain on the disposal rather than a loss.
what happens to the 20% WDA?
the car has CO2 emissions of 135g/km qualify for a WDA of 20%.
@chenchen, plz look above to the answer, i hope that might help
Where to get a question about capital allowances? please help I ma just watching the lecture but the tutor is mention look section so and so I don’t know where to get those questions or sections.
Is computation of capital allowance done the same ways for both individual as well as for corporation tax?
Make studying much easier for us on the way becoming qualified accountants. Thanks so much.
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