Business Tax - Capital Allowances
chrischant
Registered Posts: 3
I completed level 4 last year but didn't do business tax because my provider didn't give us options. I'm currently self studying the module and i'm a bit unsure about capital allowances: As a soletrader, If I were to purchase a fixed asset for £10,000 then in the year of purchase I would claim 18% AIA. In the following year do I then claim 18% WDA on the £8,200 balance?
0
Comments
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The AIA, where eligible (which this is), is 100%. Therefore the capital allowance in the year of purchase is £10,000 and nothing in subsequent years0
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Thanks for that - clearly much more simple than i was making it in my head!0
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