BTAX AQ2016 AAT Mock Assessment 2 - Q1.3 HELP
Zulaikah
Registered Posts: 2
in Business Tax
If anyone is able to provide an explanation or brief walk through of the capital allowances computation question of the second AAT mock, I would truly appreciate it!!!
(The question is attached)
Thank you
(The question is attached)
Thank you
0
Comments
-
So you want to start by putting in your B/fw information:
From this you have 3 pools:
General
Production car
Harry's car
The additions you need to apply the relevant rules:
Plant can be done by AIA
Harry's new car needs to be given a new pool but I think it can be fully written off through FYA (50%), though appropiate adjustments need to be made for the private use. (This might be wrong I'd have to double check)
Disposals you can just remove from the appropiate pool:
Plant - general
Production managers car - single asset, calculate the balancing charge and apply appropiate %s
Harry's old car - single asset as Production managers car.
Subtotal what you have and calculate the WDA for the general pool.
I am a little rusty on how private use asset pools interact with the FYA and balancing charges so make sure to double check those.
I hope this helps.
AAT Level 4, MAAT
ACCA in progress
F4- Passed Aug 2020
F5- Passed Dec 2020
F6- Passed Sep 2020
F7- Passed June 2021
F8 - Passed Sep 2021
F9 - Passed June 2021
SBL -
SBR - Passed Mar 22
ATX - Passed Dec 21
APM - Passed June 221 -
Thank you for this! It's definitely helped clear up things I had been doubtful about0
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