• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

Congratulations to Jamil from Pakistan and Jeeva from Malaysia - Global Prize winners!
see all ACCA December 2022 Genius Hunt Competition winners >>

Specially for OpenTuition students: 20% off BPP Books for ACCA & CIMA exams – Get your BPP Discount Code >>

other wasting assets

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › other wasting assets

  • This topic has 1 reply, 2 voices, and was last updated 7 months ago by Tax Tutor.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • June 29, 2022 at 11:41 am #659511
    lopok
    Participant
    • Topics: 7
    • Replies: 2
    • ☆

    Regarding the way how we compute the allowable cost for ‘’other wasting assets’’ like copyrights, (P:L)x(C-S).

    What happens with the other part of the cost that becomes now the ‘’not allowable cost’’, is there never a relief for this?

    This looks a bit unfair. Let’s say I buy the copyright of a CD for £1000 and then make sales of singles CDs for a total of £2000, then I should be able to deduct the original cost (1000) in FULL before being taxed on the 2000.

    June 29, 2022 at 2:08 pm #659517
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Sadly it is not you or I that gets to write the tax rules or make fairness judgements – that is for HMRC to decide!
    This is a large subject with much to learn so focus entirely on learning what you need to know to pass this exam!
    Ps your example above also shows a misunderstanding of the issue – the allowable cost of the copyright is deducted from the sale proceeds of the copyright itself when it is sold

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

ACCA News:

 

ACCA My Exam Performance for non-variant Applied Skills exams is available NOW

NEW! Download the ACCA Pass Guide

FREE Verifiable CPD for ACCA Members

ACCA mock exams and debrief videos

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

Donate

If you have benefited from OpenTuition please donate.

ACCA CBE 2023 Exams

Instant Poll * How was your exam, and what was the result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Specially for OpenTuition students

20% off BPP Books

Get BPP Discount Code

Latest comments

  • Iby2012 on Introduction to Financial Accounting – ACCA Financial Accounting (FA) lectures
  • baraka42 on PM Chapter 13 Questions Standard Costing and Basic Variance Analysis
  • baraka42 on PM Chapter 13 Questions Standard Costing and Basic Variance Analysis
  • baraka42 on PM Chapter 13 Questions Standard Costing and Basic Variance Analysis
  • hxyx on ACCA AB Chapter 11 – Leadership – Questions

Copyright © 2023 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in


We use cookies to show you relevant advertising, find out more: Privacy Policy · Cookie Policy