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Posted Sat, 18 May 2024 16:16:57 GMT by Chun Ho Chan
I know that the assets can use the capital allowance with written down allowance. If a business car is bought at 10000, if I apply the allowance in the first year 18% and there is 8200 remain in the main pool. And in the profit and loss account suppose I have written it is depreciated by 1000, it will remain 9000 in the balance sheet. If I then sold it at 8500, what will it affect my capital allowance and the capital gain tax?
Posted Thu, 23 May 2024 09:10:41 GMT by HMRC Admin 20
Hi Chun Ho Chan,
Please refer to Capital allowances when you sell an asset
Thank you.

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