Non-Pool Assets (2) Flashcards
1
Q
What is a depooling election?
A
Election made to remove short life assets from main pool and give them an individual column
2
Q
Benefit of depooling?
A
Acceleration of capital allowances on short-life plant and machinery
3
Q
What can be treated as a short-life asset?
A
Any plant and machinery, except cars
4
Q
Capital allowances calculations?
A
Calculations on each short-life asset are calculated separately
5
Q
What happens on disposal within 8 years of acquisition taking place?
A
A balancing allowance or charge arises, won’t happen if item was pooled
6
Q
What happens if there is no disposal within 8 years?
A
The unrelieved balance is transferred to the pool
7
Q
When is AIA available?
A
Against expenditure on short-life asset
