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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- Land Rover Discovery 3.0 SDV6 255 Comm Auto 2 seat 328 7
- qualifying for 1/9th tax credit on foreign dividend 185 2
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- What is IRIS World like? 368 8
- Pension contributions 383 10
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- Do you use sign up lists on your website 210 1
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- Straight line write off of Purchase Goodwill ??? 435
- WIP Software 300
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- No payroll scheme in place 234
- CGT, PPR and transfer of equity to spouse. 231
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- Is there anything wrong with this? 203
- Small Part Disposal of Property 189
- Uncommercial property business 181