Capital allowances
noodles
Registered Posts: 308 Dedicated contributor 🦉
i understand that you can not put capital allowances in final year of trading but what if it is a whole year of trading, it does not seem right not to allow a year. Would one not be better off ceasing to trade day 1 of following year so that they get a year of allowances and then no profits or cap all for other year, especially if the year end is mid year?
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Comments
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Wouldn't you sell off all your assets as part of ceasing to trade? Or transfer them to personal use which would have the same effect (I think)? So you would get balancing allowances etc. instead of cap. allows?0
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Yes I think you are right, I did not think of selling them to myself personally.
thank you0
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