Capital allowances on canal barge

Client acquired a canal barge on 1 January 2010 for £60K. Spent a year or so doing it up, until the trade of letting the barge out for private hire canal cruising commenced on 1 January 2012.

Trading accounts will be prepared for the first period 1 Jan 2012 to 5 April 2012, then to 5 April each year thereafter.

I am trying to decide the amount of AIA's which will be due on the cost of the barge.

The expenditure was incurred when the cap was at £50K, yet the trade commenced on 1 January 2012 when the cap was £100K. The CA claim will be made in the year trade commences, so will it be on the full £60K (under the £100K cap) or capped to £50K (with the excess qualifying for WDA's at 20%)?

Many thanks for any help.