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Transfer of assets between sole and Ltd WDA'a

Transfer of assets between sole and Ltd WDA'a

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Hello

I have a vague memory of there being restrictions on WDA's when assets are transferrred from sole to Ltd with common ownership, but I cant find info now.

e.g. Asset NBV £100 and AIA claimed in full in partnership accounts.

Can the receiving Ltd claim the £100 cost paid for the asset as AIA despite the partnership having already received the allowance in full against the asset or is there restrictions? 

 

Thanks

 

Leigh

Replies (3)

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By Paul Crowley
09th Apr 2021 10:49

Are you really suggesting claiming double allowances?

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By LeighM
09th Apr 2021 10:54

Its okay I have worked it out now. Thanks

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Psycho
By Wilson Philips
09th Apr 2021 11:58

There are numerous permutations available, but since you say that you've already worked it out, it would be a waste of time to go further.

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