- November 26, 2022 at 2:25 pm #672641
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.November 26, 2022 at 3:22 pm #672644
Enhansed CA 130% are for Ltd Co onlyNovember 27, 2022 at 12:01 pm #672743
OH! Huge oversight on my part. Thank you so much.November 27, 2022 at 1:21 pm #672746
If it is for a Ltd Co should it be pro rated when accounting period is <12 months?November 28, 2022 at 2:01 pm #672805
yesNovember 29, 2022 at 10:11 am #672844
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 youNovember 30, 2022 at 10:45 am #672921
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!November 30, 2022 at 11:11 am #672932
Okay. Thank you for the effort !December 4, 2022 at 1:14 pm #673329
Struggling to find the answer. I’ve checked out the Hercules website too and struggling to find answers. SorryDecember 5, 2022 at 9:55 am #673444
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!December 5, 2022 at 1:11 pm #673473
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