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  • Capital Allowance Cls WRK

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    Shafna Shamnas
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    - The document shows capital allowance proformas for various questions (Q1-Q12) calculating totals for annual investment allowance (AIA), main pool allowance, and special pool or private use asset allowance. It provides details on opening and closing tax written down values, additions, disposals, transfers between pools, and wear and tear allowances calculated. - For each question, it calculates the total capital allowances based on additions qualifying for AIA, additions not qualifying transferred to the main or special pools, and wear and tear relief applied to give a closing tax written down value. - The aim is to calculate the maximum capital allowances available to reduce taxable profits for businesses investing in qualifying plant and machinery assets.

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    Capital Allowance Cls Wrk

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    - The document shows capital allowance proformas for various questions (Q1-Q12) calculating totals for annual investment allowance (AIA), main pool allowance, and special pool or private use asset allowance. It provides details on opening and closing tax written down values, additions, disposals, transfers between pools, and wear and tear allowances calculated. - For each question, it calculates the total capital allowances based on additions qualifying for AIA, additions not qualifying transferred to the main or special pools, and wear and tear relief applied to give a closing tax written down value. - The aim is to calculate the maximum capital allowances available to reduce taxable profits for businesses investing in qualifying plant and machinery assets.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    5 views13 pages

    Capital Allowance Cls WRK

    Uploaded by

    Shafna Shamnas
    - The document shows capital allowance proformas for various questions (Q1-Q12) calculating totals for annual investment allowance (AIA), main pool allowance, and special pool or private use asset allowance. It provides details on opening and closing tax written down values, additions, disposals, transfers between pools, and wear and tear allowances calculated. - For each question, it calculates the total capital allowances based on additions qualifying for AIA, additions not qualifying transferred to the main or special pools, and wear and tear relief applied to give a closing tax written down value. - The aim is to calculate the maximum capital allowances available to reduce taxable profits for businesses investing in qualifying plant and machinery assets.

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    of 13

    Column1 Column2 Column3 Column4

    CAPITAL ALLOWANCE PROFORMA


    AIA Main pool Special pool

    TWDVb/f XX XX
    XX
    Additions for Qualifying
    AIA
    -(1,000,000) (1000000)
    XX
    Transfer to Main pool/ (xx) xx xx
    Special pool
    Additions for not XX XX
    Qualifying AIA
    -(disposals) (xx) (xx)
    Balancing allowance/ xx/(xx) xx/(xx)
    Balancing charge
    WDA (6%/18%) (xx) (xx)
    TWDVc/f XX XX
    Total allowance

    Q 1: note AIA MP Allowance


    TWDVb/f 65000
    Additions Q for AIA
    Plant 534500
    Machinery 112500
    Less: AIA -647000 647000

    Disposal -15000
    50000
    WDA (18%) -9000 9000

    Total Allowance 656000

    Q 2: note AIA MP Allowance


    TWDVb/f 16000
    Additions not Q for AIA
    Car (50g/km) 8000

    Disposal -4000
    20000
    WDA (18%) -3600 3600

    Total Allowance 3600


    Q 3: note AIA MP Allowance
    TWDVb/f 12500
    Additions Q for AIA
    Machinery 990000
    Van 17500
    1007500
    Less: AIA -1000000 1000000
    Transfer to MP -7500 7500

    Additions not Q for AIA


    Car (30g/km) 9000

    Disposal -12000
    17000
    WDA (18%) -3060 3060

    Total Allowance 1003060

    Q 5: note 14m/e 31.5.23 AIA MP Allowance


    Additions Q for AIA
    Plant 1100000
    Less: AIA -1100000 1100000

    Additions not Q for AIA


    Car (46g/km) 19800
    Car (0g/km) 13000
    Less: FYA -13000 13000
    19800
    WDA (18%) -4158 4158
    TWDVc/f 15642
    Total Allowance 1117158

    TWDVb/f 15642

    Less: WDA (18%) -2816 2816

    Total Allowance 2816

    Q 6: note AIA MP Allowance


    4m/e 31.8.21
    Additions Q for AIA
    Plant&Machinery 470000
    Less: AIA -333333 333333
    Transfer to MP -136667 136667
    Additions not Q for AIA
    Used car (0g/km) 11500
    Car (0g/km) 16500
    Less: FYA -16500 16500
    148167
    Less: WDA (18%) -8890 8890
    TWDVc/f 139277

    Total Allowance 358723

    TWDVb/f 139277

    Less: WDA (18%) -25070 25070

    Total Allowance 25070

    Q 7: note y/e 30.4.22 AIA MP Allowance


    TWDVb/f 21000

    Additions Q for AIA


    plant 184500
    Less: AIA -184500 184500

    Additions not Q for AIA


    Car (42g/km) 24000

    Disposal
    Plant -12400
    Van -600
    32000
    Less: WDA (18%) -5760 5760

    Total Allowance 190260

    Q 8: note y/e 30.4.22 AIA MP Allowance


    TWDVb/f 11000

    Additions Q for AIA


    Equipment 123500
    Less: AIA -123500 123500

    Additions not Q for AIA


    Car (0g/km) 14000
    Less: FYA -14000 14000
    Disposal -12100
    -1100
    Balancing charge 1100 -1100

    Total Allowance 136400

    Q 10:note y/e 31.3.23 AIA MP Allowance


    TWDVb/f 21200

    Additions not Q for AIA


    Car (49g/km) 20600
    41800
    Less: WDA (18%) -7524 7524
    TWDVc/f 34276

    Total Allowance 7524


    y/e 31.3.24
    TWDVb/f 34276

    Additions Q for AIA


    Plant & Machinery 11000
    Less: AIA -11000 11000

    Disposal -9400
    24876
    Less: WDA(18%) -4478 4478

    Total Allowance 15478

    Q 9: note y/e 31.3.22 AIA MP Allowance


    TWDVb/f 9000

    Disposal -320
    8680
    Less: WDA(18%) -1562 1562
    TWDVc/f 7118

    Total Allowance 1562

    p/e 31.12.22
    TWDVb/f 7118

    Purchase 4000
    Disposal -5400
    5718
    Balancing allowance -5718 5718

    Total Allowance 5718

    AIA MP Asset with pvt use


    Q 11: note y/e 5.4.22 (BU = 55%)
    TWDVb/f 11700

    Additions Q for AIA


    Plant 18500
    Less: AIA -18500

    Additions not Q for AIA


    Car (45g/km) 19000
    Car (43g/km) 9400

    Disposal -8500
    22200 9400
    Less: WDA(18%) -3996
    -1692

    Total Allowance

    y/e 31.3.2022 AIA MP Asset with pvt use


    Q 12: note (BU = 60%)
    TWDVb/f 21200

    Additions Q for AIA


    Plant 6600
    Less: AIA -6600

    Additions not Q for AIA


    Motor car (41g/km) 17000
    Motor car (42g/km) 10600
    Motor car (0g/km) 11750
    Less: FYA -11750

    Disposal -9400
    28800 10600
    Less: WDA (18%) -5184
    -1908

    Total Allowance
    Q 13: note y/e 31.3.22 AIA MP SP
    TWDVb/f 43000
    Air conditioning 1008000
    Computer 30000
    Packaging 119000
    Less: AIA -1000000
    157000
    Transfer to SP -8000 8000
    Transfer to MP -149000 149000

    Additions not Q for AIA


    Car (55g/km) 28000

    Disposal -10000
    182000 36000
    Less: WDA(18%) -32760
    Less: WDA (6%) -2160

    Total Allowance

    y/e 31.5.21 AIA MP SP


    Q 14: note
    TWDVb/f 10800 16600

    Additions Q for AIA


    Office furniture 898800
    Water heating system 40000
    Lighting system 70000
    Less: AIA -1000000
    Trasfer to SP -8800 8800

    Additions not Q for AIA


    Car (154g/km)
    Disposal -18700
    900 16600
    Small balance -900
    Less: WDA (6%) -996
    Less: WDA (6%)

    Total Allowance

    Q 15: note y/e 5.4.21 AIA MP SP


    TWDVb/f
    TWDVb/f 110000
    Additions Q for AIA
    Plant 45000
    Delivery Van 15000
    Lighting system 250000
    Lifts 752500
    Less: AIA -1000000
    Transfer to SP -2500 2500
    Transfer to MP -60000 60000

    Additions not Q for AIA


    Car (155g/km) 25000
    170000 27500
    Less: WDA (18%) -30600
    Less: WDA (6%) -1650

    Total Allowance

    Q 16: note Alvin's SBA = 6283

    Ans: Cora's SBA = 7250


    Column5 Column6

    Asset with private Allowance


    use

    1,000,000

    XX

    (xx)

    XX
    XX
    XX
    AIA available = 1166666.66667
    AIA available = 333333.333333
    Allowance

    18500

    3996
    931

    23427

    Allowance

    6600

    11750

    5184
    1145

    24679
    Allowance

    1000000

    32760
    2160

    1034920

    Asset with pvt use Alowances


    (BU = 80%)

    1000000

    12600

    12600
    900
    996
    -756 605

    1002501

    Alowances
    1000000

    30600
    1650

    1032250

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