While working on my job I had this doubt -
If Financial year (for companies) runs from 1 April to 31 March then why is the capital allowance rules ( like AIA limit etc) set for 1 1st January to 31st December?
Shouldn't they both be aligned? What is the logic for keeping separate dates for Capital Allowances?
Ask the Tutor ACCA TX-UK
Capital Allowance
Sadly tax is not always a question of logic or what you think should apply - it is simply a question of what the rule actually is - and you must simply apply that rule! Tax is not a question of "why" it is a question of what "is"
ps my apologies for not being available until now to answer your question
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