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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 6 years ago by Tax Tutor.
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  • October 31, 2018 at 2:58 pm #480349
    alikhakar
    Participant
    • Topics: 187
    • Replies: 79
    • ☆☆☆

    q1. Is the copyright asset eligible for capital allowances ?
    q2. How does a business obtain relief for expenditure on intangible assets ?
    q3. why we only include the “cost of remaining useful life” of copyright in allowable expenditure? why not the total acquisition cost ? Is it so.. that because we have already obtained relief for the cost for the years we used that asset ?
    Thanks

    October 31, 2018 at 5:33 pm #480363
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Q.1 – No
    Q,2 – Not in your syllabus
    Q.3 – Yes because the asset is a wasting asset and the cost therefore has to be reduced over the life of the asset otherwise allowable losses would always arise when disposed of just before the end of the life of the asset! when its value is negligible!

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