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!
- Financial statements accounting policies 100 2
- Scams are not always obvious 1,484 30
- Deemed Employment Payment 370 2
- Relationship between amortisation and distributable profits 125 8
- Do you charge fee or % for Successful appeal against HMRC penalties? 121 5
- Little PPR calc question 165 4
- Restructuring company and Form 42 152 7
- Overpayment notice 92 1
- Design your ideal tax department 774 17
- Limited Companies, Directors Employer Registration P11D 220 9
- Cells from many sheets 170 3
- Statutory Residence Test - is HMRC Guidance wrong? 189 5
- notice of consent by surrendering company group relief 175 8
- Investment company 185 6
- More RTI stuff 157 4
- Personal allowance 569 12
- Letting Agents - requirement for audit of clients accounts 95 1
- Childcare vouchers 211 3
- Overseas company and VAT 89 2
- SAGE 50 PAYROLL YEAR END 104 2
- New Fangled Penalties 1,053
- Moving away from CCH software 916
- Recruitment agencies 542
- QROP pension input amounts 419
- write off loan or loan to equity swap or both 367
- HMRC BENCHMARK EXPENSES 320
- Unused Losses and Post Cessation Receipts 304
- fraud 239
- EIS relief on transferring shares to spouse 229
- Sole trade business in UK, but the owner works from EU 198