CT600 Capital Allowance

SK123

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

KernowAccountant

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

Presumably it's giving you the figure of £1,000 max as this is the small pool write off maximum...?

SK123

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

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.

SK123

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.