Does new trader get double AIA?
I am unclear as to how much AIA this new trader is entitled to for the one month's trading falling into 10/11...
May - Aug 2008: pretrading capital expenditure of £1,305. (AIA maximum £50k for 08/09 applies to this expenditure)
There was a delay in being able to start the business, and the unused equipment was brought into use on 1/3/11.
A van was purchased at the beginning of March 2011 for £12,592. (AIA maximum £100k for 10/11 applies to this expenditure)
Is he allowed a twelfth of 50k, a twelfth of 100k, or some combination of the two?
What a nightmare CAs have become!
- Personal Pension Relief in the Tax Code 151 2
- Auto enrolment confusion 2,044 47
- CGT on lost shares/scam 370 4
- Setting up a practice 397 5
- Very large share capital by mistake 506 7
- VAT refund if only output tax on first claim 472 4
- 24 month rule and expenses 286 1
- Love is in the air 554 6
- HP agreement in Directors name but payments under company 656 17
- Stamp Duty 294 4
- Physiotherapist and vat and agency work ( one for Les Howard???) 238 4
- I am 34 years old, am I too old to start a career in Accounting ? which is the best way to pursue it 1,811 21
- Another Sneaky Tax Hike! 602 5
- Incorporation of gp practise 287 1
- Sage Instant Accounts Complete De-install problem 263 9
- Client Paperwork Retention? 574 13
- Paid staff their normal salary instead of SMP 586 7
- Tax Overlap Reporting 398 4
- Pay rise - how to enter in Moneysoft 396 9
- Reimbursing director travel costs 459 6
- DTA tie-breaker issue 304
- Tax Implicatins on a Directors Loan 293
- CGT for NOn UK residents 281
- Employer's pension contribution - need to be PAYE registered? 276
- What are the tax implications of overseas sales through a UK based company? 254
- profit or loss on furnishings and deed of trust 240
- Apprenticeship Levy 239
- Tenants in Common - Actual % split not written down 225
- Capital Gains personal representatives 221
- Discretionary payment to sick employee 217