Disposal of an AIA asset

Fitz
Fitz Registered Posts: 26 Regular contributor ⭐ ? ⭐
My client has part-exchanged his truck that he bought last year. As I claimed AIA for the capital cost of the truck last year, it went into capital pool at nil cost. Are the proceeds of the disposal therefore treated as a balancing charge?

Comments

  • T.C.
    T.C. Registered, Tutor Posts: 1,448
    Yes...one of the disadvantages of putting larger items into the AIA scheme.
  • jilt
    jilt Registered Posts: 2,903
    TC do you have a link to back that up please as I'm having problems with a client. I told him I thought this was the case but he wants to see for himself and I haven't been able to find anything.
  • T.C.
    T.C. Registered, Tutor Posts: 1,448
  • stevo5678
    stevo5678 Registered Posts: 325
    jilt wrote: »
    TC do you have a link to back that up please as I'm having problems with a client. I told him I thought this was the case but he wants to see for himself and I haven't been able to find anything.

    It's not very nice that your client doesn't trust you 100% and wants you to prove to him.
  • jilt
    jilt Registered Posts: 2,903
    Many thanks TC.

    Stevo, this client is a pain in the arse, spends too much time listening to the man in the pub instead of me!
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