- This topic has 5 replies, 4 voices, and was last updated 4 months ago by
.
- Posts
I was practicing and I’m confused at the working below. Shouldn’t the cars WDV be @6% in this example
Smith and Jones are doctors in general practice. The practice owns all the assets attracting capital allowances including the cars that are used privately by each doctor.
For the year ended 31 March 2021, the tax written-down values of the assets at 1 April 2020 were:
£
65,000 18% pool (= firm’s assets)
Cars (CO2 emissions of 110 grams/km)
Smith (business use 60%) 24,000
Jones (business use 90%) 18,000
On 1 October 2020, the firm acquired further office equipment costing £25,000.The solution uses the 18% WDV for the cars
The rules for FA 2021 are different – you must only use FA 2021 material NOT FA 2020.
Yes , As per FA2023….. WDV will be 18% because car {co2 =<50g/km} goes to the Main pool, where the WDV will be 18%, but since the CAR has private goes to Private Pools. But WDV remains 18%.
Lets say, if the CAR {Co2= 51g/km}, the car should originally go to Special Pool attracting CapALL of 6%, but since there is private use it goes to Private pool but sill attracts WDV @ 6%.
- You must be logged in to reply to this topic.