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Hi,
I have one question regarding balancing allowance as I was practicing from Kaplan study kit test your understanding -2 in that question Short life assets b/w was £13440 and disposal proceeds were £5520 balance £7920 they treat it as a Balancing allowance why they treated as a balancing allowance not charged wda.
As per your lecture capital allowance come in place when company cease trading but over hear company still trading and still claimed capital allowance so my question what is the right treatment capital allowance?
Thank you
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