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Chapter 5 Capital Allowances TX-UK FA2023

VIVA

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Comments

  1. natalia.williams says

    September 23, 2024 at 10:38 am

    For MCQ2, shouldn’t the SBA be time-apportioned to take into account when the building was brought into use i.e., 550,000 x 3% x 5/12?

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    • RuthD1983 says

      November 3, 2024 at 4:04 pm

      @tutor – Please could you answer this one as I also thought the SBA should be time apportioned? From when the building came into use until the year end so 5 months of £550,000 * 3% * 5/12

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    • Reetusabrin says

      February 23, 2025 at 3:01 pm

      I think so has anyone got reply?

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  2. raina0806 says

    September 13, 2024 at 10:24 am

    In Example 1, why was the purchase of second hand motor car not added to AIA? Must a plant and machinery be new to be included in AIA?

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    • natalia.williams says

      September 22, 2024 at 11:21 pm

      AIA applies to all expenditure on plant and machinery except cars.

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  3. abdulrahimanes says

    August 19, 2024 at 6:22 pm

    In MCQ2, shouldn’t the SBA be time apportioned as it was only put to use for 5 months?

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  4. Aykhan1905 says

    July 26, 2024 at 7:13 pm

    In example 1, disposal of plan is taken as main pool allowances but it is related to AIA. What is the reason for taking of disposal of plant as WDV not AIA there?

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    • natalia.williams says

      September 22, 2024 at 11:20 pm

      Disposal/sale of plant is taken as main pool allowance. If plant was purchased it would qualify for AIA.

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  5. NUSHACCA says

    July 5, 2024 at 6:24 am

    Hello,

    Can u explain in example 7 why Employment income was multiplied by 3/12?

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    • Dead0k says

      July 11, 2024 at 1:36 pm

      because she worked in a tax year for employer for 3 month, and then started self employment and being in that state for 9 months , total 12.

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  6. kofiobeng527@gmail.com says

    June 1, 2024 at 5:05 pm

    when is an expenditure qualified to be treated as a main pool or special rate pool

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    • natalia.williams says

      September 22, 2024 at 11:17 pm

      Main pool – expenditure relating to plant + machinery.

      Special rate pool – top of page 56: integral features of a building, long life assets, motor cars with CO2 emissions over 50 grams per km

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  7. peixuni says

    April 6, 2024 at 8:34 pm

    Chapter 5, part 4 , 14:26min , MCQ2
    Answer provided to MCQ2 does not take into account when the structure and building was first brought to use.
    Maximum SBA should be £550,000 * 3% * (5/12months)

    Example 6 , 5:05mins
    There is no reference to “New” Electric motor car (zero emissions) which is the criteria to determine whether FYA is applicable.
    In the exam, should we also automatically assume it is a “new” car?

    Many thanks for your classes and to Open Tuition for making these resources available to everyone.

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