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Hi. I am a student taking F6 (UK)
When i was reading i failed to understand treatment of Industrial Building. which topic do we suppose to deal with this item, as previously was assigned with allowable rate when calculating. or does this have own separate treatment
Thanks
K.A.ChachalikaHi Kassim, I am not entirely certain about your question so I apologise if I do not answer your precise query, but let me try.
If you are asking in respect of capital allowances, Industrial Buildings Allowance NO longer exists and hence no capital allowance is available on the purchase of an industrial building.
The only involvement now in the F6 paper is on the disposal of an industrial building a chargeable gain would need to be computed and that gain may be eligible for rollover relief if the sale proceeds are reinvested in another building used in the trade.
Hope this helps.
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