I have a loss on the sale of assets but am unsure how to complete the CGT section of the SA properly.
The assets were m/v and I have the cost and proceeds figures. But as I have already claimed wd allowances on them how do I treat these.
Thank you
Replies (4)
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This is nothing to do with CGT. If these are assets on which capital allowances have been claimed the disposal is dealt with through the CA computations.
Just to be pedantic
There may well be a capital loss, but the loss restricted by the amount of capital allowances available. In practice, this of course means that there is no allowable loss.
This question is worrying on so many levels. Are you doing this for yourself or charging someone for tax preparation?