Preparing Capital Allowance Computation

Question 1

Step 1

Answer 1

List any tax written down values on the pools and any non-pool assets

Question 2

Step 2

Answer 2

List expenditure for qualifying for AIA, firstly special rate pool and then main pool

Question 3

Step 3

Answer 3

Add any expenditure in excess of the AIA limit to the relevant pool

Question 4

Step 4

Answer 4

Add cars with CO2 emissions

Question 5

Step 5

Answer 5

Deduct sale proceeds, to a maximum of original cost, of assets sold from relevant pool balance

Question 6

Step 6

Answer 6

Deduct sale proceeds, to a maximum of original cost, from tax WDV of any non-pool assets

Question 7

Step 7

Answer 7

Compute the relevant balancing adjustment

Question 8

Step 8

Answer 8

Compute available WDA’s on the TWDV’s computed and deduct thereform

Question 9

Step 9

Answer 9

List new electric zero emissions cars and claim available 100% FYA