PTC - Use of an asset and the acquisition
koda
Registered Posts: 52 Regular contributor ⭐
Hi guys,
Was hoping someone could clarify something for me. I know that if you acquire an asset you've been using, the benefit is calculated by using the higher of the market value at acquisition or the orginal costs less benefits to date. However, I was told by someone that this is slightly different with a computer.... can anyone tell me if they know anything about this, if there's a special rule for computers as I can't seem to find anything in my textbook about this?
Thanks for your help in advance!
Was hoping someone could clarify something for me. I know that if you acquire an asset you've been using, the benefit is calculated by using the higher of the market value at acquisition or the orginal costs less benefits to date. However, I was told by someone that this is slightly different with a computer.... can anyone tell me if they know anything about this, if there's a special rule for computers as I can't seem to find anything in my textbook about this?
Thanks for your help in advance!
0
Comments
-
Hi Koda
Check out http://www.hmrc.gov.uk/paye/exb/a-z/c/computers.htm#2
This should help you with what you need.
Speegs0 -
I don't think it makes any difference to the taxable benefit if you decide to purchase or are eventually given the computer0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 325 NEW! Qualifications 2022
- 160 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 56 AAT Level 3 Diploma in Accounting
- 95 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 273 VAT
- 92 Software
- 274 Tax
- 138 Bookkeeping
- 7.2K General accounting discussion
- 202 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 582 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership