Mind blank - disclaiming capital allowances

Gem7321

Sorry I'm having a complete mind blank - this is the first time I've come across this since coming back to work from maternity leave!

My client has profit of £6,000 for 09/10 (late filing) so wholly covered by personal allowance, no additions during the year so we won't be losing any FYA/AIA, is it still OK to disclaim the WDA and carry forward the whole WDV from 08/09? The WDV is under £1,000 so would like to claim the CA's when he's actually got some taxable profit. Is this still right?!

Thanks!

Monsoon

Yep that's just fine. Claim no CA's and carry forward the previous WDV to the next period.

Gem7321

Thanks Jenni! I had a niggling feeling that I was going mad