Disposal of an AIA asset

Fitz

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?

T.C.

Yes...one of the disadvantages of putting larger items into the AIA scheme.

jilt

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.

Try this for an example:

http://www.hmrc.gov.uk/manuals/camanual/ca23086.htm

stevo5678

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

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!