CT600 Capital Allowance

Hi,

I'm hoping someone can help me with a quick question.

Company has a shop and carried forward Allowance Pool of £2,700 relating to fixtures and fittings. Business has relocated so I would like to write this down to zero.

Box CP89 only allows me to enter a maximum of £1,000 otherwise I get the message:-

X ERROR:You have claimed more Writing Down Allowances than you are entitled to.
Please enter the correct figure.

Any advice would gratefully received.

Simon

Comments

  • KernowAccountant
    KernowAccountant Settling In Nicely Registered Posts: 106 💫 🐯 💫
    SK123 said:

    Hi,

    I'm hoping someone can help me with a quick question.

    Company has a shop and carried forward Allowance Pool of £2,700 relating to fixtures and fittings. Business has relocated so I would like to write this down to zero.

    Box CP89 only allows me to enter a maximum of £1,000 otherwise I get the message:-

    X ERROR:You have claimed more Writing Down Allowances than you are entitled to.
    Please enter the correct figure.

    Any advice would gratefully received.

    Simon

    On what grounds do you believe that relocation will result in the (presumably, general?) pool value being written down to nil? Please don't repeat the facts given above.

    Had the trade ceased?
  • BeccaLouJ9
    BeccaLouJ9 Experienced Mentor DevonFMAAT Posts: 896 Regular contributor ⭐ 😼 ⭐
    Presumably it's giving you the figure of £1,000 max as this is the small pool write off maximum...?
  • SK123
    SK123 Registered Posts: 3
    The business has not ceased to trade, just relocated. However, the only assets in the general pool were fixtures and fittings that have been left in the old premises and now have zero value.
  • KernowAccountant
    KernowAccountant Settling In Nicely Registered Posts: 106 💫 🐯 💫
    edited August 2015
    Ok, so assuming the trade is continuing (apparently - I express no opinion on whether that is actually correct!).

    The assets may be considered scrapped with no disposal value. Hence NO balancing allowance arises. The pool value continues to be written down at 18% per annum until the small pools WDA applies.
    BeccaLouJ9
  • SK123
    SK123 Registered Posts: 3
    Trade is definitely continuing. Company is investing at new premises, and new capital expenditure will be claimed under AIA.

    Would have been tidy to clear the scrapped stuff now, but I guess it has to be written down at 18% p.a.

    Thanks for the comments.
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