I've been looking around and my confussion was just the result of badly worded bits n bobs around the internet.
I was right in my assumption that for any second hand car less than 160 g/km they go in the main pool and high emmission cars in the special rate pool.
Phew, glad my tenuous understanding of the tax system has been restored.... There was a bit of a disturbance in the force for a second when I thought that there was a(nother) hole in the system that I might have missed.
kind regards,
Shaun.
-- Edited by Shamus on Friday 21st of June 2013 01:13:31 PM
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I have a self employed client who has bought a used low emission car (CO2 is 104) for business use only.
There is plenty of information about how to to deal with the AIA for a new & unused car on HMRC website http://www.hmrc.gov.uk/capital-allowances/plant.htm but I can't find anything which helps for a used one.
Could someone point me in the right direction &/or tell me how I need to deal with this on his SA return
I'm sorry if I am missing a joke here but on HMRC website http://www.hmrc.gov.uk/manuals/camanual/ca23153.htm it states
the car is unused and not second hand, and is first registered on or after 17 April 2002; it is an electric car, or a car with CO2 emissions of not more than 110gm per km driven. the expenditure is incurred between 17 April 2002 and 31 March 2013
If the car is new and 110 g/km or less then there is 100% FYA (but never AIA)
The 100% is only available on new cars with second hand cars being dropped into the general pool...
Which leads to a question leading to a question...
All seems quite straight forwards up to 160 g/km with all second hand cars attracting 18% WDA... What about second hand cars over 160 g/km? The wording of everything that I'm reading is coming accross that they end up in the general (18%) pool rather than the special (8%) pool which is where I would expect them to be...
Expect a follow up answer but for now the above should suffice as an interim answer to the original question.
kind regards,
Shaun.
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Following on from my earlier question, if the same client has a vehicle in the pool which is valued in the pool at £1700 and this is scrapped before the next vehicle is purchased do I include this £1700 in the Other allowances
