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Accelerated depreciation for tax purposes

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Accelerated depreciation for tax purposes

  • This topic has 3 replies, 2 voices, and was last updated 7 years ago by MikeLittle.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • October 24, 2015 at 11:51 pm #278783
    Stefano
    Member
    • Topics: 23
    • Replies: 28
    • ☆☆

    Deat Mike,

    Would you be so kind tobexplain with an example the above mentioned transaction?

    Many thanks,

    Stefano

    October 25, 2015 at 7:40 am #278804
    MikeLittle
    Keymaster
    • Topics: 26
    • Replies: 22702
    • ☆☆☆☆☆

    Hi again

    The taxman doesn’t like our variable depreciation policies and it makes it altogether too difficult to run a tax system efficiently. Instead the tax man ignores our depreciation calculations and instead gives us capital allowances. Where we are depreciating at say 10% straight line, the taxman is allowing us 25% reducing balance.

    But our neighbour is depreciating at 30% straight line. The taxman allows him 25% reducing balance too.

    I believe that that’s what is being referred to in your post title – the taxman allowing capital allowances sometimes greater than the accounting depreciation charge

    October 25, 2015 at 10:35 am #278827
    Stefano
    Member
    • Topics: 23
    • Replies: 28
    • ☆☆

    Thank you!!

    October 25, 2015 at 10:49 am #278828
    MikeLittle
    Keymaster
    • Topics: 26
    • Replies: 22702
    • ☆☆☆☆☆

    You’re welcome

  • Author
    Posts
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