Business Tax Transfere FYA @40%

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A-Vic
A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
in AAT Level 4 (Level 8 in Scotland)
Under the new rules the transfereable after the 50,000 written off for the above i am struggling with can anyone shed any light on this for me

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  • jewels.p
    jewels.p Registered Posts: 1,774 Beyond epic contributor 🧙‍♂️
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    A-Vic wrote: »
    Under the new rules the transfereable after the 50,000 written off for the above i am struggling with can anyone shed any light on this for me

    I would if I could but I can't! Lol
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    Cheers

    Hey hang on no bog off :lol:
  • Bluewednesday
    Bluewednesday Registered Posts: 1,624 Beyond epic contributor 🧙‍♂️
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    Maybe I'm being dense but I don't understand the question?
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    am getting a little confused with this myself.

    But we were told if a company made purchases between 5th April 2009 - 4th April 2010 an item over the first year allowence and have deducted the £50,000 maximum any transfered amount would get the 40% capital allowence. we were told this and not shown a proper example. as a matter of fact the tutor didnt even know about this it was pointed out by a student.
  • jewels.p
    jewels.p Registered Posts: 1,774 Beyond epic contributor 🧙‍♂️
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    Bluewednesday wrote: »
    Maybe I'm being dense but I don't understand the question?

    Me neither but thats cause at the moment I dont understand any question in DFS lol
  • anniem
    anniem Registered Posts: 1,326 Beyond epic contributor 🧙‍♂️
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    jewels.p wrote: »
    Me neither but thats cause at the moment I dont understand any question in DFS lol

    It won't help that you're talking about DFS and AVic is on about BTC!!!

    I couldn't interpret the question either - Bluewednesday I don't think you're being dense!

    I think AVic is very confused - so much so that she has gone into cyber-babble!!!!!!!!

    Methinks the second attempt to explain the problem is much better, although I suspect there are still some bits of the question missing.

    A x
    FMAAT - AAT Licensed Member in Practice - Pewsey, Wiltshire
  • mini_schnauzer
    mini_schnauzer Registered Posts: 347 Dedicated contributor 🦉
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    A-Vic is correct:

    First Year Allowance (FYA) at 40% on AIA qualifying expenditure exceeding £50,000 if purchased between 1 April 09 and 31 March 10.

    Never pro-rated if period of account is not 12 mths - always given in full.
    This replaces WDA in the period of acquisition (i.e. you cannot have both DYA and WDA in the same period on that asset).
  • Bluewednesday
    Bluewednesday Registered Posts: 1,624 Beyond epic contributor 🧙‍♂️
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    Right A vic - got it now!

    What did you want, the layout of the calculation or an explanation about why it happens?
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    its more the calculation. For instance if aportioned (say 6 months)

    Sorry about my waffle before was at work and didnt have my notes :)
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    Thanks for the replies by the way it is helping :)
  • CrazySexyCool
    CrazySexyCool Registered Posts: 52 Regular contributor ⭐
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    I suppose what we need is some sort of chart/genius rule which could help put all of the capital allowances into the different areas. A bit like mnemonics? (sp) This is the bit I'm on at the mo too.

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