Urgent Annual Investment Allowance
Annual Investment Allowance
Client has tax year ending 31st March. He paid deposit for vehicle in March 2010 but the vehicle has to be made to certain specifications and did not arrive until August 2010 with full purchase price then invoiced less the deposit.
Would like to include the vehicle purchase in the tax year ending 5 April 2010 - but the goods were not in use until September 2010 - client is paying in HP instalments over 72 months.
Would like to claim AIA on full purchase cost of £91k at the 50k limit.
Obviously next year it would attract the full 91k but would mean creating a loss.
However a claim this year would reduce tax payer from the higher rate.
Can I claim A1A for the tax year ending 5 April 2010.