Guy, a sole trader, draws up accounts to 31 December each year and incurred the following...

  

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Guy, a sole trader, draws up accounts to 31 December each year and incurred the following transactions for the two years to 31 December 2021. 12.02.20 Bought a car for £26,000 with CO₂ emissions of 112g/km 15.02.20 Sold a car with CO₂ emissions of 132g/km for £2,000 (originally cost £12,000) 1.07.20 Bought a car for £19,000, CO₂ emissions of 100g/km, with private use of 30%. 30.07.20 Sold a car with CO2 emissions of 84g/km for £1,000 (originally cost £15,000) 1.10.21 Bought a car for £8,000, CO2 emissions of 45g/km Guy also bought some plant and machinery at a cost of £10,000 in each period of account. On 1 January 2020, the TWDV of plant and machinery were as follows: Main pool SR pool + £ 25,000 8,000 Required Calculate the capital allowances for the y/e 31 December 2020 and y/e 31 December 2021. (20 MARKS) Guy, a sole trader, draws up accounts to 31 December each year and incurred the following transactions for the two years to 31 December 2021. 12.02.20 Bought a car for £26,000 with CO₂ emissions of 112g/km 15.02.20 Sold a car with CO₂ emissions of 132g/km for £2,000 (originally cost £12,000) 1.07.20 Bought a car for £19,000, CO₂ emissions of 100g/km, with private use of 30%. 30.07.20 Sold a car with CO2 emissions of 84g/km for £1,000 (originally cost £15,000) 1.10.21 Bought a car for £8,000, CO2 emissions of 45g/km Guy also bought some plant and machinery at a cost of £10,000 in each period of account. On 1 January 2020, the TWDV of plant and machinery were as follows: Main pool SR pool + £ 25,000 8,000 Required Calculate the capital allowances for the y/e 31 December 2020 and y/e 31 December 2021. (20 MARKS)

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Capital allowances for the year ended 31 ... View the full answer