CA's

Question 1

personally owned assets brought into the business

Answer 1

treated at mv on day brought into business

Question 2

what is the threshold for cars to be high emission

Answer 2

110

Question 3

are fya’s prorated for a short period?

Answer 3

NO

Question 4

what is a long life asset?

Answer 4

• economic working life of 25 years or more

- total expendiutre exceeds 100,000 in last 12 months (prorated for 51% companies and short accounting periods)

Question 5

what does long life asset treatment not apply to

Answer 5

motor cars

Question 6

capital purchases made before trading…

Answer 6

deemed to have been purchased on the first day of trade

Question 7

what is sba rate

Answer 7

2% before 6 april (1 april for companies) and 3% after- on a straight line basis

Question 8

how does sba work

Answer 8

each structure treated separatelny= not pooled

Question 9

what is the qualifying expenditure for sba?

Answer 9

construction cost/aquisition cost

Question 10

structures qualifying for sba?

Answer 10

offices
retail prem,
factories
warehouses
hotels
care homes
road, walls bridges, tunnels

Question 11

if structure is partly used in trade but partly rented out…

Answer 11

full allowance claimed but them apportioned between trading income and prop income

Question 12

sba -new purchaser takes on…

Answer 12

the old cost

Question 13

sba and chargeable gains…

Answer 13

chargeable gains increased by sba to date