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Question 2a note 3
Tax rates
Tax rates 2013
Note 3 – Plant and machinery | |
---|---|
On 1 April 2012 the tax written down values of Greenzone Ltd’s plant and machinery were as follows: | |
£ | |
Main pool | 48,150 |
Special rate pool | 9,200 |
Date of purchase | Cost £ | CO2 emission rate | |
---|---|---|---|
Motor car [1] | 10 April 2012 | 10,800 | 102 grams per kilometre |
Motor car [2] | 10 June 2012 | 20,400 | 140 grams per kilometre |
Date of sale | Proceeds £ | Original cost £ | |
---|---|---|---|
Motor car [3] | 8 March 2013 | 9,100 | 8,500 |
Motor car [4] | 8 March 2013 | 12,400 | 18,900 |
Required:
Calculate Capital allowances as at 31 March 2013.
The following allowances are to be used in answering the questions:
Capital allowances: rates of allowance | |
---|---|
% | |
Plant and machinery | |
Main pool | 18 |
Special rate pool | 8 |
Motor cars | |
New cars with CO2 emissions up to 110 grams per kilometre | 100 |
CO2 emissions between 111 and 160 grams per kilometre | 18 |
CO2 emissions over 160 grams per kilometre | 8 |
Annual investment allowance | |
First £25,000 of expenditure | 100 |