IRIS Computation Assesment

A company buys machinery for £50,000 on 1 July 2024. It is eligible for Annual Investment Allowance (AIA). How much can the company claim in capital allowances in the first year?

A company has a special rate pool balance of £40,000 at 1 April 2024. No additions or disposals. What is the writing down allowance for 2024/25?

A company buys a new diesel van for £20,000. How much can it claim as capital allowances in the year of purchase using AIA?

A company buys a new electric car (0g CO₂ emissions) for £35,000 on 1 June 2024. What is the capital allowance in the year of purchase?

A company buys a petrol car with CO₂ emissions of 120g/km for £25,000. What rate of WDA applies?

A company donates £2,000 to a registered UK charity. How should this be treated in the corporation tax computation?

A machine originally costing £10,000 (main pool) is sold for £6,000. The pool value before disposal was £8,000. What is the balancing charge?

An electric car bought for £30,000 is sold after 3 years for £12,000. It was claimed at 100% FYA initially. What is the balancing charge or allowance?

A company pays £5,000 interest to a non-UK lender and deducts £1,000 income tax on CT61. How much is allowable interest expense in the CT computation?

A company’s special rate pool balance is £15,000. It sells a long-life asset for £20,000, with no other assets in the pool. What happens?