Cap Allowances and AIA
callucci_1
Registered Posts: 5
Hi all
With the introduction of the increased AIA to £500,000 from 1st April 2014, does this mean the AIA is apportioned on a monthly basis? ie, for year ended 31/12/2014 the AIA is £437,500?
With the introduction of the increased AIA to £500,000 from 1st April 2014, does this mean the AIA is apportioned on a monthly basis? ie, for year ended 31/12/2014 the AIA is £437,500?
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Small addition to this, does the date of acquisition matter? ie, anything purchased in the first 3 months has a limit of £62,500 and anything in the last 9 months has a limit of £375,000.0
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Yes, AIA is calculated on a pro-rata basis, first question correct.
The limit in the lower-cap period is the ceiling in that period; ie. even though its only three months, you can claim up to £250k (of your £437.5k total) in that period in your example.0 -
thanks, that's very helpful!0
