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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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.