Until january 2022 the company has never been entitled to capital allowances as all assets were leased. On 15 january 2022 the compay bought office equipment for 50000 and a car with CO2 emissions of 42 grams per kilometre for 7500.
In the above question the annual investment allowance has been claimed instead of the 130% first year allowance for office equipment. Why is this so
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As it is a company the 130% allowance should be given unless it was 2nd hand office equipment purchased
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