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Balancing Allowance

Balancing Allowance

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Hello,
I wonder if anyone can help me with a query:

I am completing a CT600 for a small Ltd co at present for period ending 31/08/08
A car with WDV of £18,454 at 31/07/07 was sold on the first day of the new AP for £17,230. The car was in its own pool (no other assets in this pool) and current WDA of £3,041 had been claimed to date. Original cost £21,495.
As I understand there would be a balancing allowance of £1224 as the pool no longer exists? How do I account for this on the CT600? It doesn't look right to have a balancing charge of £17,230 in box 110 but would this be correct and should box 109 be blank as there is no further WDA for this period.

Many thanks
Justine

Justine Bradbrook

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By Anonymous
20th May 2009 09:59

Balancing allowance in Box 109
The balancing allowance will go in to Box 109 as it is treated as if it were an extra writing down allowance. Box 110 is only for balancing charges which would occur of the car was sold for more than its WDV

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