Hummingbird Ltd has main pool assets with a tax written down value of 38,000 as at...

 

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Hummingbird Ltd has main pool assets with a tax written down value of £38,000 as at 1 April 2020. They purchase three zero-emission delivery vehicles for a total of £76,000 and purchase a car for the CEO costing £32,750. The car has a 30% personal use and emits 165g CO2 /km. During the year they dispose of assets for £1,400 which had initially cost £15,750. Required: Calculate the total capital allowances that can be claimed in the year to 31 March 2021 and the tax written down value at that date. Hummingbird Ltd has main pool assets with a tax written down value of £38,000 as at 1 April 2020. They purchase three zero-emission delivery vehicles for a total of £76,000 and purchase a car for the CEO costing £32,750. The car has a 30% personal use and emits 165g CO2 /km. During the year they dispose of assets for £1,400 which had initially cost £15,750. Required: Calculate the total capital allowances that can be claimed in the year to 31 March 2021 and the tax written down value at that date.

Answer rating: 100% (QA)

Step1 Capital Allowance Capital allowance refers to the tax relie... View the full answer