I am preparing the accounts for a company who bought a Macbook in January, depreciated it for one month and then at the end of the month they sold it to a company under common control for 20% of its value.
I am preparing the corp tax return and wondered if I can claim AIA for the macbook - I am presuming that I cannot however I have read through the HMRC guide and can't find this information anywhere. Does anyone know how to treat this for capital allowances?
I presume that I would also add back the loss on the sale of the asset as well?
I am a frequent viewer of the any answers section but this is my first time posting - so thanks everyone in advance!