I did learn the theory of capital allowance and workout through various questions with no problem.
Now I'm confused with J12 Q1, it says that the assets is payable immediately. i.e in Year 0
So, if the assets is bought at the start of period, the first year of claim should have been in Year 1.
Now I'm confused why the first year claim for this question was made in Year 2 and not in year 1.
Also, how does marking is done for theoretical parts...i.e. do we get marks like other papers i.e 1point for each valid mark ??
Thank you
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Urgent - Capital Allowance Claim & Any theory questions
They are going to pay for the machinery in year 0, start production in year 1, pay tax 1 year in arrears which means in year 2 and of course tax allowance is for the period you pay tax in.
12y ago#2Oogabooga is correct :-)
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