Tx notes fa22 Final

June 2023 to March 2024 exams
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Illustration 1 
Richard commenced to trade on 1 January 2022 and prepared accounts to 31 March 2022 and to 31 
March thereafter. Richard made the following acquisitions of main pool assets:
Capital Allowance Computations
Accounting Period to 31 March 2022
£
1 January 2022
Plant
220,000
20 January 2022
Computer equipment
80,000
Accounting Year ended 31 March 2023
19 May 2022
Machinery
30,000
3 month period to 31 March 2022
AIA
Main Pool Allowances
Additions (AIA)
1 January 2022
Plant
220,000
20 January 2022
Computers
80,000
300,000
AIA (max 3/12 x 1,000,000)
(250,000)
50,000
(250,000)
WDA (max 3/12 x 18% x 50,000)
(2,250)
(2,250)
Total Allowances
(252,250)
Tax Written Down Value (TWDV) c/f
47,750
Year Ended 31 March 2023
TWDV b/f
47,750
Additions (AIA)
19 May 2022
30,000
AIA
(30,000)
(30,000)
WDA (18%)
(8,595)
(8,595)
Total Allowances
(38,595)
TWDV c/f
39,155

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3. Special Rate Pool 
The following asset acquisitions should be allocated to the special rate pool:
(1)
Integral features of a building:
‣
Lifts and escalators
‣
Electrical and general lighting systems
‣
Cold water systems
‣
Space or water heating systems
‣
Systems of ventilation, air cooling or purification
(2)
Long life assets:
Assets, when new, with an expected economic working life of 25 years or more when total 
expenditure, based on a 12 month accounting period, exceeds £100,000.
(3)
Motor cars with CO2 emissions over 50 grams per km.
Illustration 2 
Steven prepares accounts to 31 March 
The WDV of the main pool at 1 April 2022 is £40,000. The following transactions took place during 
the year ended 31 March 2023: