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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 ?
ThanksQ.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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