Example
Assume P incurs in 2002-03 first-year qualifying expenditure of:
£5,000 on a van but takes first-year allowances on only £2,500; and
£1,000 on a computer but takes first-year allowances on none of that expenditure. (See example on page 41 above.)
Then P can allocate to the main pool for the plumbing trade for 2002-03:
£2,500 in respect of the van; and
£1,000 in respect of the computer.
This gives available qualifying expenditure of £3,500 in total. P is entitled to claim allowances on this at 25% (see section 56). But P is not required to do so.
Section 59: Unrelieved qualifying expenditure
300.This section is based on parts of sections 24(1) and 25(1) of CAA 1990. It defines the unrelieved qualifying expenditure a person carries forward from a chargeable period.
301.Subsection (3) provides that no unrelieved qualifying expenditure can be carried forward from the final chargeable period of a pool. This is implicit in CAA 1990. See Note 16 in Annex 2.
