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Small pool at TWDV capital allowance claim

Error made on tax comp in year 1

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Hi everyone

Hope you'll all go easy on me regarding this mistake, but I have a small company client who is currently into year 4 of trading.

During year 1, at the point of transition from ST to Ltd co, a small pool balance of £2k was transferred into the ltd co from the ST business.

Having reviewed the paperwork, I have claimed this £2k as AIA, rather than introducing as a balance b/fwd and claiming WDVs.

What would others opinions be on resolving this? Should I amend?

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By Paul Crowley
16th Oct 2020 15:17

Ignore it
There is no permanent difference in taxable income

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By Paul Crowley
16th Oct 2020 15:19

PLEASE read how to use any questions

Anon function means you will get angry replies
Your use on Anon is an abuse of its use

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