A previously dormant business acquired an investment property on the last day of its accounting period (31 March 2017). Property was subsequently rented out in 2017/18.
Only activity to 31/3/2017 was raising the funds (bank loan, director capital introduced), buying the property and paying a bank arrangement fee.
The company subseqyently had a report commissioned which identified amounts of the purchase price that could be categorised as plant and machinery (the previous owner had not claimed anything in respect of CA's previously)
No CT600 has been submitted.
A couple of questions
Is AIA claimable on the identified plant and machinery ? Does the trading position affect this ?
No CT600 has been filed, my thought is to put a late return in and claim such allowances as are available to offset against a profit that has been made to 31/3/2018
Thanks in advance