Capital Allowances for assets already owned

Hi,

I registered as a sole-trader in August 2010. Prior to this date I already owned two computers which are now used for business purposes. From what I gather, even though they were bought before the business began, I can bring these items into my business as fixed assets and claim 100% FYA Capital Allowances on their market value circa August 2010?

How do I work out the market value on such items - is there a calculation/percentage of the original cost which is commonly used to determine market value? Or is a rough figure based on: "what I would have got for them if I sold them on eBay" sort of thing acceptable?

Any guidance on this would be much appreciated.

Frank

Comments
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blok |
blok's picture

Any reasonable value

Chris Smail |
Chris Smail's picture

but....

dunhamsjd |
dunhamsjd's picture

Circumstances where AIA OK; VAT

DMGbus |
DMGbus's picture

Main Pool Value = below £1000...

frank3891 |

Write off the 20% first

rockallj |
rockallj's picture

.

blok |
blok's picture

Write off the 20% first

rockallj |
rockallj's picture

thanks rockallj

frank3891 |

I hadnt appreciated the £1k write off in the same year

Ian Lawrence |

Incorrect treatment

Ernest N Dever |
Ernest N Dever's picture

Assets intro by a related party

asillahi |