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Post Info TOPIC: Prior year capital items
CarolP


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Prior year capital items
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If someone has equiptment that they purchased in the previous year but didn't claim and tax allowance on can the claim it this year in 2013/14?

 

would it be claimed as AIA section 48?  If so is there anywhere else you need to state the businesses total capital items value? 

 

Its been a very long time since I completed any SA return, I'm very rusty. 

 



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Thanks Carol P
Shamus


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AIA is only available in the year of purchase. It is ot available if not claimed in that year.

You would take the assets into the normal capital allowances computation using 18% or 8% WDA,

kind regards,

Shaun.

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Shaun

Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
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