Capital allowances Flashcards
when are plant and machinery allowances available
on any plant and machinery that performs a function in the trade, rather than provide a setting
what is WDA
Writing down allowances
what is the rate of WDA
18%
when is WDA time apportioned
if the period of account is not 12 months long
what is AIA
annual investment allowance
can AIA be used on cars
no
what is the AIA allowance
100% for the first 1,000,000 of expenditure in 12 months
what pool does expenditure on long life assets (over 25 years ) get added to
special rate pool, if there has been more 100,000 spent in 12 month
where are cars with C02 emissions of 110g/km pooled
special rate
where is expenditure on integral features pooled
special rate
5 examples of integral features
electric and lighting systems cold water symptoms space or water heating systems powered systems of ventilation, cooling or air purification lifts or escalators
what is the WDA for the special rate pool
6%
when does a balancing charge rise
when the proceeds of disposal is larger than the tax writing down value of the pool
when can a balancing allowance arise
on the main and special rate pool but only on cessation
