Need help with Business Tax task 3

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daniel_123456
daniel_123456 Registered Posts: 25
in General discussion - Professional level
In practice assessment 1 task 3, the task is about calculating capital allowances which i know how to do, but i am confused about the table it gives you to work it out. Their is usually a pro forma. My question is do i need to fill in the table in a specific way or can i just write what the capital allowance is?

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  • CornishPixie
    CornishPixie Registered Posts: 115 Dedicated contributor 🦉
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    Are you querying that there are not 'titles' in the grid? Eg, General pool, car, capital expenses?
  • daniel_123456
    daniel_123456 Registered Posts: 25
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    Yes, i was wondering if i need to type in all that myself in a specific way.
  • CornishPixie
    CornishPixie Registered Posts: 115 Dedicated contributor 🦉
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    Oh and is this question related to Arthur who runs his own decorating business?
  • daniel_123456
    daniel_123456 Registered Posts: 25
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    No, my task the name used is George.
  • CornishPixie
    CornishPixie Registered Posts: 115 Dedicated contributor 🦉
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    Yes, but only if it refers to the question. Some questions will require a special pool which is why the headings aren't there. Just complete them as you would normally but choose the headings yourself but then apply the wdv to those specific columns.
  • daniel_123456
    daniel_123456 Registered Posts: 25
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    So their isnt a specific format, just as long as i clearly state the correct capital allowances figure?
  • CornishPixie
    CornishPixie Registered Posts: 115 Dedicated contributor 🦉
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    All you will get in your exam is the blank template. It's the same template for shares. But you will need to include all of the lines showing bal bf, acquisitions, disposals and then the wdv followed by the capital allowance calculation at the bottom.

    If you post the question here we can give you a hand.
  • daniel_123456
    daniel_123456 Registered Posts: 25
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    Thanks for your help
  • CornishPixie
    CornishPixie Registered Posts: 115 Dedicated contributor 🦉
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    I printed off my own grid to practice with - took lots of photocopies and perfected how to complete the grid for a wide variety of questions. Very useful and saved me loads of time drawing lines on pieces of paper.

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