Second-hand asset

Psyche

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!

ROCK

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 claimed