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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
Are you using FA 2020 study material instead of FA 2021?
Yes from the ACCA study hub
The rules for FA 2021 are different – you must only use FA 2021 material NOT FA 2020.