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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 1 year ago by Tax Tutor.
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  • November 26, 2021 at 9:40 pm #641729
    alikhakar
    Member
    • Topics: 186
    • Replies: 79
    • ☆☆☆

    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?

    December 20, 2021 at 10:42 am #644590
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    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”

    December 20, 2021 at 10:55 am #644595
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    ps my apologies for not being available until now to answer your question

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