BTC help please

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Hi there

Would anybody be able to explain the general rules of how to treat capital allowances in the year of cessation? I'm a little confused and cant find any useful notes on it in my Osbourne book.

Thanks in advance!

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:BTC help please

    There are no capital allowances in last year, instead you get a balancing allowance or charge. Compare WDV with proceeds, if positive then gives a charge and vice versa
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:BTC help please

    Hi, I've been using the Osbourne book. I have the one for tax year 2006/7. check out section 7.13 and the examples thereafter.

    Hope this helps.
    Zoe

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