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Hello
in June 2008 question 3 (1) there are indexation factros given, (01/1990-04/1998 0.36) and in the answer the cost is multiplied by this index, what is this index? Is this the one for indexation allowance, because then it is not applicable since the owner is a sole trader. Is a sole trader qualifies as a company? I thought indexation allowance is only for incorporated entitiesThanks
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indexation is only apply in corporation tax…!
I think you are probably looking at the past paper answers on the ACCA website – you must NOT!! These answers have not been updated for the changes in legislation that take place each year. Back then individuals used to get indexation allowance as well as companies! As you both say it is only companies that now get indexation allowance. You need to purchase a Finance Act 2012 exam / revision kit from one of the recognised ACCA providers for the 2013 exams.
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