Short accounting period/CTAP and first year allowances not being restricted
- Article ID
- ias-12032
- Article Name
- Short accounting period/CTAP and first year allowances not being restricted
- Created Date
- 13th October 2015
- Product
- IRIS Business Tax
- Problem
- There is a short accounting period / CTAP but the first year allowances are not being restricted or apportioned.
- Resolution
- According to Tolley’s Tax Computations the first year allowance, unlike the WDA, is a flat rate and should not be time apportioned.
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