Member Since: 12th Jun 2014
3rd Jun 2021
I don't have a works mobile. I switch my laptop off at the end of the working day which is generally between 17:00 - 18:00 although I might take a short lunch on a Friday and take a POETS day.
11th May 2021
I seem to recall that, many moons ago, a firm I worked for signed an audit report off as [Firm Name] Chartered Accucunts or similar. Another firm used the phrase "Profit/(loss) arising on disposal of fixed assets". One might see that the omission of the first 'i' in 'arising' could cause some mirth. Unfortunately it happened all too often.
27th Apr 2021
I wonder if there are any CGT reliefs for gifts of business assets?
13th Apr 2021
You have added flesh to the bones. Thank you, I couldn't recall the case!
13th Apr 2021
Agreed regarding context - perhaps Moonbeam's client is an employed journalist...
5th Mar 2021
Thanks Wilson. You are absolutely right. I misread some guidance yesterday which referred to AIA applying to "the first £1m of qualifying expenditure". I think I took it too literally!
4th Mar 2021
Hi Havng listened to the Chancellor's example given during his speech and read a couple of commentaries, the view seems to be that AIA comes first (as it does for any other FYA AFAIAA). This means that the stapler will attract AIA.
I don't know if anyone knows the answer to allocation though. For example if my company spends £3m on general pool assets in the period can I allocate which assets attract AIA and which attract the FYA? This could be important if, for instance, I am purchasing £1m of these assets to hire out (which would be precluded from the FYA because of s46 CAA but not the AIA).
4th Mar 2021
Yes, if the OP had looked at the legislation, (s)/he would have found that part 2 of the CAA 2001 is headed "Plant and Machinery Allowances" and covers everything that ordinary capital allowances (including AIA and FYAs) can be claimed on!
1st Mar 2021
If there is no such thing as R&D relief why does HMRC's CIRD refer throughout to "R&D tax relief"? The R&D tax credit is the repayable that can be claimed under certain circumstances.
Assuming the question refers to the SME scheme than the answer is that, if the grant was received in respect of the same project as the R&D claim, then the R&D claim cannot be made under the SME scheme if the grant is notified state aid or to the extent that the grant meets the expenditure.
The OP implies that the expenditure is covered by the grant so no claim under the SME scheme can be made. It is possible to claim under the RDEC but for £3k of expenditure it is hardly worth it.
26th Feb 2021
Sounds like he was thrown by the video