Business Tax Cap Allowances

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anthony_12c
anthony_12c Registered Posts: 40 Regular contributor ⭐
Can someone help me with a couple of queries.

1) Are all pooled assets that are taxed at 20% limited to £3,000 after you have calculated the main pool? or is this limited to second cars?

2) Are all assets purchased before 1/4/2009 given 100% allowance?

thanks in advance

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  • Terdoo
    Terdoo Registered Posts: 144 Dedicated contributor 🦉
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    Re: BTC

    Hi,
    All what I know is that expensive car with a millage of less than 160g/km WDAof 20% would be 3000 and low emission car and energy saving with emission not exceding 110 gram per Kilometre of CO2 FYA would be 100%, and this only applies to new low emission cars, water efficient.
  • deborahcarpenter
    deborahcarpenter Registered Posts: 161 Dedicated contributor 🦉
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    expensive car is only applicable to cars bought before April 09. These carry a WDA of 20% limited to £3000.

    High emission car purchased after April 09 (160mg and above) have a WDA of 10% with no limit. (expensive cars dont exist after April 09 - they are replaced by high emission cars)

    FYA applies to low emission cars below 110mg and water efficient plant etc. (not time apportioned)

    General pool is 20% with no limits (cars with emissions between 110mg and 160mg fall into general pool unless they have personal use - sole trader only. If they have personal use no matter what the emission value they have a seperate pool as you have to apportion the personal use and take it off the capital allowances figure.

    However for Directors cars in companies, personal use is not apportioned as this is taken into account in their personal tax returns as a benifit in kind.

    Hope i have explained it ok. Its hard to put things into words!!!!
  • Paisley
    Paisley Registered Posts: 93 Regular contributor ⭐
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    If they have personal use no matter what the emission value they have a seperate pool as you have to apportion the personal use and take it off the capital allowances figure.

    However for Directors cars in companies, personal use is not apportioned as this is taken into account in their personal tax returns as a benifit in kind.

    Just the answer I was looking for :)
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