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Annual Investment Allowance

Bought and sold in the same year

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Hi

Can AIA's be claimed in a company, if the asset is acquired and sold in the same tax period?

Thank you in advance

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By williams lester accountants
17th Jan 2022 16:11

Have you asked your accountant?

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By calvinplummer
17th Jan 2022 16:22

I did, and he said post a question on accountingweb, because someone from Williams Lester accountants with nothing better to do in January is bound to reply

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By RyanTheBeanCounter
17th Jan 2022 16:42

calvinplummer wrote:

I did, and he said post a question on accountingweb, because someone from Williams Lester accountants with nothing better to do in January is bound to reply

No real need for this is there?

Stick to bending copper pipes, let your accountant do the thinking.

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By calvinplummer
17th Jan 2022 17:22

Funnily enough this copper pipe bender earns more than you, whilst also servicing your old boiler on the side. Have a nice evening

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By williams lester accountants
17th Jan 2022 18:17

In which case the cheapskate could afford an accountant! Stop being a freeloader and get proper paid for advice on matters you obviously don’t understand.

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By williams lester accountants
17th Jan 2022 18:19

calvinplummer wrote:

I did, and he said post a question on accountingweb, because someone from Williams Lester accountants with nothing better to do in January is bound to reply

Correct, as we have now completed all our January returns and are resting and planning a trip to Florida for the kids. Hope you are very busy too….

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By Hugo Fair
17th Jan 2022 19:09

Take it as a compliment ... that's the first time this OP has posted *any* reply during the last 7 posts he's made in 6+ years!

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By TheNovice
17th Jan 2022 16:49

calvinplummer wrote:

Hi

Can AIA's be claimed in a company, if the asset is acquired and sold in the same tax period?

Thank you in advance

Yes, assuming it qualifies for AIA and the £1m limit has not been fully utilised.

The proceeds from the sale will need adding back to the main pool to potentially create a balancing charge/allowance.

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