Client is a limited company and has purchased machinery in March 2012. Paid for it by CHAPS transferon 30th March 2012, and supplier's invoice has a tax point of 1st April 2012.
As a Sole trader (who is also employed under PAYE and in need of an accountant!), built up contacts, bought equipment and set up websites before trading in 2011/2012.
summary of the key changes affecting businesses, individuals and estates from the Autumn Statement 2012 and the Draft Finance Bill 2013
Tax publisher and capital allowances expert Ray Chidell has warned that while the tenfold increase in the annual investment allowance (AIA) is welcome, the increase to £250,000 from 1 January is un
George Osborne has revealed a surprise boost for businesses with a tenfold increase to the Annual Investment Allowance (AIA) and a further reduction to corporation tax.
We have as clients two brothers who own 3 commercial properties rented out to unconnected businesses.
Whatever the macroeconomic analysts are saying this month, the Association of International Accountants (AIA) found from a survey of its members that life is still tough for small businesses.
Assuming a new UK small business that has spent a £100k on capital to set up. As we know, the AIA allows for £25k of offsets (assume this business is setting up now thus after 1 April 2012).
In the days of FYA's, I recall that when equipment was purchased to hire out FYA were not available.