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capital allowance

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › capital allowance

  • This topic has 2 replies, 2 voices, and was last updated 8 years ago by anderodic.
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  • March 3, 2017 at 4:02 pm #375326
    anderodic
    Member
    • Topics: 5
    • Replies: 3
    • ☆

    Hello sir
    Is it right to use the business portion to get the capital allowance of a private use of car by a proprietor which is been sold with a balancing charge .

    March 4, 2017 at 10:56 am #375485
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    If an asset has private use by the proprietor and is sold for more than tax wdv then a balancing charge will arise but the amount of the charge is indeed restricted to the business use proportion

    March 4, 2017 at 4:18 pm #375558
    anderodic
    Member
    • Topics: 5
    • Replies: 3
    • ☆

    Thanks

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