System is not producing a balancing allowance on pooled assets

Article ID

ias-11844

Article Name

System is not producing a balancing allowance on pooled assets

Created Date

22nd October 2014

Product

IRIS Business Tax

Problem

When an asset has been disposed in the pool no balancing allowance is being produced.

Resolution

Pooled assets would only be given a balancing allowance once the business has ceased to trade. The value of the asset will continue to be carried forward and written off until the business ceases.

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