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!
- Taxfiler - SA100 - More efficient? 642 5
- See you all on the other side 692 6
- 12Pay 458 2
- dividends 609 2
- R&D 317 1
- Quarterly Reporting - The Logistics 1,181 17
- Auto enrolment contribution rates 440 3
- How long are you waiting for appeal reply 414 4
- Borrowing money to loan to company 373 1
- Mother as Guarantor for Son's mortgage 545 5
- Seeking a tax case 642 9
- When do we qualify for state pension? 505 4
- Companies house strike off 550 3
- Tax treatment of alterations to property 429 2
- Moving to the cloud 745 9
- Iris open space/doc exchange for SATRs 216 2
- How much to charge for payroll? 904 16
- Unincorporated charity transfer to CIO 210 4
- BTC vs Digita 1,092 29
- Has anyone tried calling HMRC to get tax on dividends put in code? 501 4
- HMRC Joint Filing 562
- Capital Contribution towards a company car 420
- Capital Reduction & Impact on EIS Shares 373
- IRIS and FRS 102 354
- Capitalising Finance Lease 327
- USA help 317
- National Minimum Wage issue on Directors joining a Workplace Pension 297
- Dormant company accounts under FRS 102 293
- Marginal rates of tax 293
- Class 2 NI 277