ACCA Taxation (TX-UK) Capital Allowances Introduction (part 1)
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Excellent lecture!
Thank you very much sir!
sir in illustration 1 the aia for $30000 is $30000, fine so what will happen to the remaining aia amount which is $170000 ($200000-$30000) ?
Since there are no acquisitions, the allowance is therefore for this year, 31 December 2017, is wasted!
Why did not we have another AIA for 2017?
We did, the 30,000 covered the full 200,000 AIA for that accounting period…
The TWDV is now going to be a reducing balance carried forward till NIL at a rate of 18% p/a
Why do we not get AIA relief of £45,500 in y/e 31.12.2017 addition to the £30,000?
The AIA relief is supposed to be for the additions not for the Main pool balance, for Main pool balance written down allowance (WDA) relief is given, after the additions are taken care of through AIA, the rest amount (after deducting AIA relief) goes to Main pool, then there written down allowance of either 18% or 8% (if asset qualifies for special rate pool) is implemented! hope you got this and not confused!