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!
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- How come if you claim benefits you are not entitled to you either have to pay a 50% penalty or are sent to court and either fined or sent to prison (sometimes suspended) and end up with a criminal record. 557 10
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- How much of your work is admin? 1,220 11
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- Mutual Trading - Exempt CT Income - Do I need clearance? 175