AIA/Capital Allowances

AIA/Capital Allowances

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Joiner employed until sept earned £9200. Went self employed, made a net profit of £13200, therefore total gross earnings £22400. He bought a van in Feb for £20000. What is the best treatment of AIA/Capita; Allowances in this case? He is accounting on a cash basis

Replies (13)

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PJ
By paulgrca.net
28th May 2015 12:24

My advise is to appoint an

accountant to act for you!

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By Matrix
28th May 2015 12:56

I thought there were no CAs if using cash accounting.

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Replying to SXGuy:
By mrme89
28th May 2015 13:03

There aren't.

Matrix wrote:

I thought there were no CAs if using cash accounting.

 

Which makes the first post even more relevant.

Thanks (1)
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By Paul Hawes
28th May 2015 13:22

CAs

For cars only, kind of sounds like a studenty question.

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By BILL KAVANAGH
28th May 2015 13:47

Thank you for the various replies. I can't see how any of them  have answered the question. If CA is not allowed with Cash accounting, how much of the cost of the Van in this instance can be claimed against profit?

 

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Replying to Jo Nokes:
RLI
By lionofludesch
28th May 2015 14:53

Van

BILL KAVANAGH wrote:

Thank you for the various replies. I can't see how any of them  have answered the question. If CA is not allowed with Cash accounting, how much of the cost of the Van in this instance can be claimed against profit?

On the figures you quote, the last thing he wants to be doing is cash accounting.  If he does, he must take the whole cost of the van whether he gets tax relief or not.

It's a carp idea, dreamt up by government fools who know nothing about tax.

 

Thanks (3)
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By Anne Robinson
28th May 2015 13:51

google capital allowances and cash accounting and it will tell you.

Thanks (1)
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By justsotax
28th May 2015 14:08

if you follow the link

possep provided it has the relevant answer....

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By cheekychappy
28th May 2015 14:31

Still no cure for stupid I see.

Thanks (2)
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By justsotax
28th May 2015 15:38

possep...the

second guy/girl to post....the only answer that contains a link on this page...oh I give up....

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Replying to paul.benny:
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By BILL KAVANAGH
28th May 2015 15:43

don't give up you might are helpful

 

Thanks (1)
Replying to lionofludesch:
RLI
By lionofludesch
28th May 2015 15:58

Thread

BILL KAVANAGH wrote:

don't give up you might are helpful

Just read the answers to your question .....

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