BTC question

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:28AM in AAT student discussion

Hi,

I completed the June 04 BTC paper (last min revision) I have a question: Task 1.2 b Industrial Building Allowance - Why is the allowance 12 months when the building was purchased for 5 months ?

Does anyone know ?

JANE

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:BTC question

    I think the answer to your question is: You only apportion for short accounting period ie. for newly setup companies and have short accounting period. As this is an ongoing co. and has a full 12month acocunting period they get the full 4% IBA.

    I'm doing the same paper on Tuesday..GOODLUCK! Like you also doing last minute revision!!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:BTC question

    Thanks for that. It makes sense now.

    Good luck to you for tomorrow too!

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