Corporation Tax computations - General Pool & WDA

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Hello everyone!<BR><BR>I'd be most grateful if you could help!<BR><BR>I am preparing Company Tax Computations and Return and am stuck on capital allowances which I need to arrive at adjusted Profit/Allowable loss<BR><BR>Could someone please let me know on what basis some WDA are decided to be disclaimed? Is there a particular rule, e.g. certain percentage of the total WDA available can be disclaimed?<BR><BR>I can see on previous year's computations that this (allowance disclaimed) was done, but cannot completely understand how they arrived at the "disclaimed" figure<BR><BR>Hope I make sense. Any help is greatly appreciated!<BR><BR>Regards<BR><BR>Elena

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Corporation Tax computations - General Pool & WDA

    It may not help you with your immediate query but i have a template that i use for capital allowances calculations. <BR><BR>If you want a copy feel free to drop your e-mail address to karate2002uk@yahoo.co.uk<BR><BR>Regards
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Corporation Tax computations - General Pool & WDA

    the most likely screnario is that c.a.'s are used to 'fine tune' the profit to make the best use of the c.tax rates. You should either be paying tax at 30% or 19%. If your profits are between the upper and lower limit then the rate is 32.75% on thre marginal profit. If you are between the first & second relevant amount the rate is 23.75%.<BR><BR>The other possibility is that there is a group situation and you need to group relieve any loss, again making best use of the tax rates.<BR><BR>If you are still puzzled, e-mail me at b.cooper@uhy-chester.com and I'll try to help.

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