Hello!
Ella started in business as a sole trader on 6 Nov 2021 and prepared her first set of accounts to 5 April 2022. On Dec 6 2021 she acquired plant at a cost of £430,000. What are the maximum capital allowances that she can claim for the period of account to 5 April 2022.
(a) In the answers they haven't considered the super deduction at 130%. Am I wrong in assuming that since the plant was acquired after 1 April 2021, she would be able to avail a fya of 130%?
(b) If a main pool item was purchased during accounting period of >12 months, can the enchanced 130% main pool and 50% sperial rate pool allowance be apportioned pro rata ?
Thank you.
Ask the Tutor ACCA TX-UK
enhanced capital allowance
Enhansed CA 130% are for Ltd Co only
OH! Huge oversight on my part. Thank you so much.
If it is for a Ltd Co should it be pro rated when accounting period is <12 months?
yes
I'm sorry to drag this on but I just stumbled upon Lucky Ltd in bpp and they've allowed a full 130% allowance for both computer and office equipment inspite of it only being a 4 month accounting period. This points to the contrary of what you've just confirmed could you please clarify this?
Thank you
Ive done some research and it appears that it is pro-rata for a short period and yet some of the questions I have looked at show a full allowance as it is classed as a FYA!
I will get back to you on this when I have done some more research!
Okay. Thank you for the effort !
Struggling to find the answer. I’ve checked out the Hercules website too and struggling to find answers. Sorry
It's okay, no problem. In most of the sums I've solved now the whole 130% is allowed so I think I'll stick to that. Thank you for you time and effort!
Ok
Sign into reply to this topic.