Chapter 6 - 1.3 - Pools Flashcards
1
Q
What are the two types of pool?
A
- Private use asset pool
- Main pool
2
Q
Private use asset pools
A
Capital allowances are calculated separately for each asset that is partly for the private use of the business owner. Only the business use proportion of the allowance may be claimed
3
Q
Main pool
A
All other assets are pooled together to enable the calculation of a single capital allowance
4
Q
What does the main pool include?
A
Cars with CO2 emissions of not more than 50g/km purchased on or after 6 April 2021 (1 April for companies)
5
Q
What is the balance of each pool known as?
A
The tax written down value (TWDV)
