BTC - small pool allowance

val0123

As I understand it, the balance in the general pool will be written off once the WDA has reduced it to below £1000. I was wondering if anybody knew if this rule also applies to other 'pools' ie expensive car, high emission cars etc ?

Hate all these tax rules - sending me bonkers !!!

Thanks

valentino46

hi val,

if there is a balance of 1000 or less in the general (main) pool this amount can be claimed with a balncing allowance before the WDA is calculated.



rob

val0123

Thanks Rob, do you know if the allowance applies to the general pool only ?

qwerty

The allowance applies to the general pool and the special rate pool, but not to single asset pools, see http://www.hmrc.gov.uk/manuals/camanual/ca23225.htm. Therefore, the rules would not apply to expensive cars.

val0123

That's sorted that one out, thank you.