Second-hand asset
Psyche
Registered Posts: 187 Dedicated contributor 🦉
Hi there
My client purchased a computer he intended for business use, but did not actually start to trade until a year later. He has introduced the computer as capital but does anyone know (a) what value it would appear in the books, I assume this would be market value of a year-old computer and (b) whether it qualifies for annual investment allowance?
Thanks!
My client purchased a computer he intended for business use, but did not actually start to trade until a year later. He has introduced the computer as capital but does anyone know (a) what value it would appear in the books, I assume this would be market value of a year-old computer and (b) whether it qualifies for annual investment allowance?
Thanks!
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Assets introduced
If an asset is introduced into a business then it is at market value and does not qualify for AIA or FYA, only 20% capital allowance can be claimed0
