Should i use the omv or should i do the usual wda % and deduct that as the allowance? Should this % be proportioned to the length of the period?
sarah taylor
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Have a look in HMRC manuals
The relevant pages for Capital Allowances are :-
http://www.hmrc.gov.uk/manuals/camanual/CA23240.htm
and
http://www.hmrc.gov.uk/manuals/camanual/CA23250.htm
That should answer your question.
ATB
Market Value
You should establish the market value of the asset at the date of cessation.
This then will be your deemed sales proceeds which you will then compare to tax value b/f so as to calculate balancing charge or allowance as the case may be.
Hope this helps.