Found it on Taxfiler. Auto calculates indexation allowance and any capital losses
brought forward from an earlier year can just be entered, therefore in this case no gain.
The client is a self employed taxi driver, it seems to me therefore that I should take it the car was disposed off at market value to a connected person. For JD Benjamin, you are somewhat harsh. I am 70 years old, semi retired with Parkinson's Disease. Yes I struggle to exist!
Why were there no proceeds? Any car for scrap will fetch at least £100 nowadays. Anyway, assuming it really was £Nil proceeds, you just carry on with the special rate pool as before, claiming 6% or (8% pre 1/4/19) on the WDV. This all assumes the car is in the special rate pool, and not a single asset pool.
My answers
Yes it is a school extension
Found it on Taxfiler. Auto calculates indexation allowance and any capital losses
brought forward from an earlier year can just be entered, therefore in this case no gain.
I use taxfiler, cant see any relevant section on there. No one has mentioned what to do with the capital losses bought forward.
Yes, 10%
The client is a self employed taxi driver, it seems to me therefore that I should take it the car was disposed off at market value to a connected person. For JD Benjamin, you are somewhat harsh. I am 70 years old, semi retired with Parkinson's Disease. Yes I struggle to exist!
Please clarify
Which means it will take forever to write down!
He gave to his son
Great, thanks.
Yes, 80% Business Use