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!
- Charitable incorporated organisation 65 1
- Claiming the expenses of Scooby 188 3
- tax credits 96 2
- Seeking advice: Freehold Pub Lease 260 9
- Legitimate Expectation 124 2
- What do do about VAT? 422 14
- Payroll got out of synch 335 10
- Holding company - accounts and tax return 76 1
- Employee leaving mid month and Payroll Manager 1,067 23
- Amending 13-14 sole trader return to reflect increased profit in 14-15 137 2
- Client right to working papers 1,209 8
- Stamp duty or SDLT payable on admission to a partnership? 165 3
- Are there any auto-enrolment engagement letter templates? 842 18
- Directors, service companies and national minimum wage (NMW) - Profit extraction 248 6
- Accounts Package 584 14
- Seeking advice: Paying Funeral Costs 643 7
- Share issue and transfer 108 3
- How much do you charge for Accountant's Reference? 629 7
- Old payroll 231 5
- HMRC Debt collectors 314 4
- NHS finance professionals 589
- Auto Enrolment and Foreign employers 387
- Foreign Pension Contribution 361
- vat gross profit percentage margins 332
- Employee's statement of sickness (SC2) form - no longer available as downloadable pdf 321
- Pre Season Invoice dated September how do you treat the VAT as not due until May 16 302
- SWAT AML v Anti Money Laundering Compliance Plus (AMLCP) 265
- Thinning income 262
- Does pension term assurance count for unused relief purposes? 219
- IFA income recognition & reporting 198