The lessee paid 70000 for a 21 year lease. The annual allowance was based on 42000 giving a 2000 annual allowance. How was the 28000 balance not accounted for in the lecture accounted for in the accounts .... an asset to the balance sheet? Thank you.
Timmyjane.
Ask the Tutor ACCA TX-UK
Chapter 4 march 19 exams lecture - 6.2 leases trading profit reductions
This is a tax exam not a financial reporting exam and the tax treatment of the capital element is outside the syllabus
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