TXF6 UK

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
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