Economics · Taxation
Which of the following assets bought by a sole trader electing to use the accruals basis will be allocated to the main pool for capital allowance purposes? (i) Car with CO2 emissions of 45 grams per kilometre costing £17,500 with 25% private use by an employee of the business (ii) Packing machine costing £105,000 and with a 24-year expected life
- 1Neither (i) nor (ii)
- 2Only (ii)
- 3Only (i)
- 4Both (i) and (ii)✓
Correct answer
Both (i) and (ii)
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