Short life assets (SLA)
Londina
Registered Posts: 814 Epic contributor π
Doesn anybody knows when SLA are available for AIA and not?
thanks!
thanks!
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Comments
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Hiya
As far as I'm aware they are not available for AIA as they go straight into the SLA pool0 -
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Normally with SLA they are brought forward from a previous CAP so I always put them through the pool, good queston though.
I have just read my book and they can be claimed under AIA0 -
*only if they are acquired in the new CAP0
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Thanks Beck! So they can be claimed under AIA unless they are brought forward from a previous period - is that right?0
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Spot on - I looked this up so I'm 100% certain0
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fab, thank you!0
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Your welcome!!0
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Thanks Beck! So they can be claimed under AIA unless they are brought forward from a previous period - is that right?
I think it's the other way round! I have an example in dec 2008 exams (updated to FA2008) with SLA it was an addition to the current year and no AIA was charged!0 -
Oh nooooo!!! Were there other acquistions? Maybe collectively they were above the 50K limit so it had to be put in a separate pool? Confused now haha!0
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But am I right in saying in past exams AIA wasn't brought out??????0
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Lala read the bottom of osborne book 3.10 to clarify...0
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From Chief Assessorβs report Dec-2008
For the short life assets, these need to be kept in a separate pool until such time as the asset is sold, or the time period for being classified as a SLA has elapsed, and then the written down balance is moved into the general pool. Candidates would still produce a total capital allowance of Β£174,076 if the SLA was handled in the general pool, but would lose marks for the incorrect treatment.0
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