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Post Info TOPIC: Balancing allowances on tax return
Leger


Master Book-keeper

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Balancing allowances on tax return
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Stupid question alert.

Where the flip does the balancing allowance go on the tax return?  The client has sold a car for less than whats in the pool.

I'm in section 4 and I've got Annual Investment Allowance, Allowance for small balance of unrelieved expenditure, other capital allowances, and balancing charges.



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John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
FoxAccountancyServices


Expert

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I put it to other, John

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Leger


Master Book-keeper

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Posts: 3904
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Thanks Michelle.  It seems daft that they have a balancing charge box, but not a balancing allowance one.  Looking back at last years tax return, I had broken down the expenses, something I don't know normally go, and when you do that you get a balancing allowances box.  Knew I'd seen it before lol, which is why I was confused.



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John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
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