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!
- Property scam victim 367 8
- 10 year debentures and CT 97 4
- Capital Gains on Inherited Property 356 14
- Error or mistake claims (as was) 127 2
- Giving a seminar 253 14
- Website - Should I upgrade? 132 3
- which software to use? 170 2
- jury service 221 6
- What is the best blog for practitioners to follow? 158 4
- Debiting private use proportion to directors loan account 219 7
- Checking a contract 119 3
- Pattern for CTA 77 1
- VAT on garage rent 249 12
- Company Fuel - Reimbursement to avoid Benefit in Kind 142 5
- Related Parties Note 975 12
- Tasks for new trainees 307 7
- Discretionary trust reporting 140 3
- General legal fees 67 1
- Capital gain or not? 251 4
- Are HMRC getting it right? 513 11
- Desperately seeking Susan, Sam or anyone with any other name 1,121
- Experience with Islamic investor following Sharia-compliant rules? 585
- Darwinpay Partnership Assessment 388
- S464A Charge to tax: conferring benefit & BIK 294
- Interest on Loan to a Company 195
- Bank interest in 'near' facility recall situation 179
- Agent fees to sell business 171
- Alphabet shares 166
- ACCA continuity of practice arrangement needed 159
- Residency 91 day rule 149