Capital allowances

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
If an item is in the main pool and the cap is for 9 months do you apportion it like you do for example on an expensive car?
Many thanks in advance :lol:

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Capital allowances

    Hello Amelie,
    WDA are time apportioned. You have to calculate 9/12 of the 25 %.
    Hope this helps and good luck with the exam.
    Natascha
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Capital allowances

    Many thanks for that. Good luck everyone!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Capital allowances

    Sorry one more question, do you time apportion the FYA, I thought I read somewhere you dont time apportion the FYA.
    Many thanks
    :lol:
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Capital allowances

    FYA is not time apportioned - assets which qualify for FYA get a full years allowance in year of purchase and none in year of sale.

    WDA is time apportioned only.

    Expensive cars WDA are restricted to £3000 - not apportioned.

    WDA on general pool and expensive cars = 25%, WDA on long life assets 6%
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Capital allowances

    Many thanks for that!

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