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Question 6note 2
Lucky Ltd was incorporated on 20 July 2014, and commenced trading on 1 December 2014. The following information is available for the four-month period 1 December 2014 to 31 March 2015:
(2) Lucky Ltd purchased the following assets during the period 20 July 2014 to 31 March 2015:
| £ | ||
|---|---|---|
| 19 August 2014 | Computer | 6,300 |
| 22 January 2015 | Integral features | 141,200 |
| 31 January 2015 | Office equipment | 32,900 |
| 17 March 2015 | Motor car | 12,800 |
The integral features of £141,200 are in respect of expenditure on electrical systems, a ventilation system and lifts which are integral to a freehold office building owned by Lucky Ltd.
The motor car has a CO2 emission rate of 82 grams per kilometre.
Required:
Calculate capital allowances for the 4 month period ending 31/03/2015.
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 95 grams per kilometre | 100% |
| CO2 emissions between 96 and 130 grams per kilometre | 18% |
| CO2 emissions over 130 grams per kilometre | 8% |
| Annual investment allowance | |
| Rate of allowance | 100% |
| Expenditure limit | £500,000 |