Practise 1 - Task 3

katelowes
katelowes Registered Posts: 14



Hi, Can anyone explain why the car 3 addition is after the disposals?

Is it because there is no disposals on it?

Comments

  • Marina_l
    Marina_l Registered, AAT Student Posts: 6
    I have another question... Why the AIA is still 1000000 and it has not been apportioned???
  • Pian32
    Pian32 MAAT Posts: 472
    For the first question it doesn't particularly matter as long as everything is covered.

    For the added question it is a full year and the AIA is still £1,000,000 as the planned change to £200,000 didn't occur.
    AAT Level 4, MAAT
    ACCA in progress
    F4- Passed Aug 2020
    F5- Passed Dec 2020
    F6- Passed Sep 2020
    F7- Passed June 2021
    F8 - Passed Sep 2021
    F9 - Passed June 2021

    SBL
    SBR - Passed Mar 22
    ATX - Passed Dec 21
    APM -
  • Marina_l
    Marina_l Registered, AAT Student Posts: 6
    > @Pian32 said:
    > For the first question it doesn't particularly matter as long as everything is covered.
    >
    > For the added question it is a full year and the AIA is still £1,000,000 as the planned change to £200,000 didn't occur.



    Sorry…. I’m confused. The exercise state that the YE is 31.03.2021. The PA straddle the 1st January 2021 when the allowance dropped to £200k. What I would do is apportions 1000000*9/12 and 200000*3/12.
    🤔
  • Pian32
    Pian32 MAAT Posts: 472
    The allowance didn't drop it remained at £1,000,000 if you look at the up to date allowance sheets they will show it as £1,000,000 for the whole period.
    AAT Level 4, MAAT
    ACCA in progress
    F4- Passed Aug 2020
    F5- Passed Dec 2020
    F6- Passed Sep 2020
    F7- Passed June 2021
    F8 - Passed Sep 2021
    F9 - Passed June 2021

    SBL
    SBR - Passed Mar 22
    ATX - Passed Dec 21
    APM -
  • Marina_l
    Marina_l Registered, AAT Student Posts: 6
    AIA was £1000000 from 01.01.2019 to 31.12.2020 and it changed from the 01.01.2021 to £200000. Correct?
  • Pian32
    Pian32 MAAT Posts: 472
    Incorrect it didn't decrease. From HMRC site:
    'The AIA amount has temporarily increased to £1 million between 1 January 2019 and 31 December 2021.'

    It was going to return to normal on the date you mentioned but it got extended probably due to Covid but I haven't looked at the details
    AAT Level 4, MAAT
    ACCA in progress
    F4- Passed Aug 2020
    F5- Passed Dec 2020
    F6- Passed Sep 2020
    F7- Passed June 2021
    F8 - Passed Sep 2021
    F9 - Passed June 2021

    SBL
    SBR - Passed Mar 22
    ATX - Passed Dec 21
    APM -
  • Marina_l
    Marina_l Registered, AAT Student Posts: 6
    I wasn’t aware of it… I have been studying from BPP and I bought the book in March 2021 . The text should be valid for exams till December 2021. There should be an update, At least in the website and in AAT learning website it should be mentioned …

    Thank you for the clarification
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