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

20% off ACCA Books

Books for Sept'23 ACCA exams : Get your discount code >>

New! Ask ACCA AI Tutor

Post your questions
& get instant answers

Short life assets

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Short life assets

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by Tax Tutor.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • July 10, 2022 at 9:09 pm #660263
    guyver101
    Participant
    • Topics: 25
    • Replies: 21
    • ☆

    Does anything prevent electing for all non-AIA/FYA assets to be short life assets?

    I appreciate its a bit more work, but a simple spreadsheet would make it v simple to manage.

    Worst case scenario seems to be that they would drop into the main pool at 8 years if not sold?

    Thanks

    July 18, 2022 at 12:39 pm #661132
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    You would only bother to make the election when it was likely that the asset would have that shorter life and critically when it was likely to be sold for less than its then tax wdv.

    So long as the asset qualifies for short life treatment then of course you are entitled to make the election.

  • 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 Qualification syllabus changes for 2023/24

Need verifiable CPD for 2023? 21 units of FREE CPD on offer from ACCA

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

NEW! Download the ACCA Pass Guide

ACCA mock exams and debrief videos

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

Subscribe to ACCA’s Student Accountant Direct

Specially for OpenTuition students

20% off BPP Books

Get BPP Discount Code

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..

PQ Magazine

Latest comments

  • John Moffat on Process Costing – Introduction – ACCA Management Accounting (MA)
  • John Moffat on Measures of dispersion – ACCA MA
  • Anjana on Process Costing – Introduction – ACCA Management Accounting (MA)
  • rajesh.chandnani1@gmail.com on Chapter 12 – Capital Gains Tax – Individuals – ACCA Taxation (TX-UK) lectures
  • Racheal02 on Professionalism, ethical codes and the public interest – ACCA Strategic Business Leader (SBL)

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