Chapter - Seven..

Question 1

The Chapter Seven Recap… And

Answer 1

The chapter 7 is on the Caps Allowances which are available when a business buys plant and machinery.

Caps Allowancss are calculated for business accounting period.

Question 2

3 Main

Answer 2

The Caps Allowances are calculated on the balance of the pool at the end of the accounting period.
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Question 3

1)

Answer 3

The Main Pool. Most items are in the main pool. This is the default pool which has the assets which do not specifically go into other pools.

The main pool is a collection of assets.
The allowances for the main pool are calculated on the pool as a whole but not on singles…

Question 4

2)

Answer 4

The Special Rate Pool-high emission cars, electrial systems, cold water systems, space or water heating systems, air cooling systems, lifts and escalators…

Question 5

3)

Answer 5

The single asset pool-ever one asset is in the singlessss…

For example private use assets are in the single asset pool.

Private is only by the owner- ignore private use by the employees…

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Question 6

The Allowances……..

BA; AIA; FA; WDA

Answer 6

Balancing Allowance-Usually only available on single assets.
Annual InvestmentAllowamce-500,000 per 6.4:24…200,000per6..

Writing Dpwn Allowance-18%prr MP & 8%per SP.
First Uear Allowane…