Would changing accounting date to end of January 2013 enable plant purchased last May for 100k to qualify for the new allowance.?
Always had to look at effective date and use appropriate rate for that date in the past
Agree with Marion
Based on how it has worked in the past, any accounting period straddling the date of change will be split into two notional periods.
Allowances for the period with the lower threshold for AIA will be capped at the amount that would have been available for that period without the change.
Why oh why 1 Jan?
That is going to make for some interesting transitional calculations for companies with year-ends between 1 January and 31 March 13
Definitely mathematically challenging
....- 31.3.10/5.4.10 50,000
- - 31.3.12/5.4.12 100,000
- 31.12.12/ ?5.4.13? 25,000
1.1.13/ ?5.1.13 ? - 250,000
(Anyone seen yet if sole traders/partnerships are 5 January or if all are 31 December)
31/01/2013 year end will be good - anyone worked out the hybrids yet
So this is for the 5% of businesses they told us were the only ones to be affected by the reduction last April