IBA

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
ok panic mode has set in, cant think straight or think anything through sensibly :-( <BR>IBA................ WHEN do we time apportion and when don't we??<BR>i had this grasped the other day, but just done a question and got it wrong and now doubting what i know.<BR>please help.<BR>thanks

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    IBA

    IBAs are time apportioned for short CAPs.<BR><BR>Hope this helps
  • System
    System Posts: 100,534 🤖 Admin 🤖
    IBA

    and short accounting periods, (partnerships) even in first year of obtaining the building according to this question? <BR><BR> <BR>to clarify, any period whether first year or not is time apportioned so it goes on the length of the accounting period not when it was purchased ie like fya on plant and machinery is not time apportioned whereas wda are, iba IS time apportioned in the first year.<BR>have i confused you now?<BR><BR>crikey talk about stress :-(<BR>HATE this bit where Nothing will make sense to me, hope it clicks next week, i know most of its in my head.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    IBA

    I thought that IBA was only time apportioned if an accounting period was not 12 months - if you have a 12 month accounting period and you put your industrial building into use on the last day of your financial year, you still got the whole IBA.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    IBA

    yes i think you right. if it in use on last day but it a 12 month cap you get full allowance, but if it in use on last day but it a 9 month accoutning period you time apoortion to 9 months.<BR><BR>sorry if i confused you. thats why i put a message on here, i wanted help and clarification as got a mental block, so please dont take what i say as ''it''. i dont know, need the mental block clearing.

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