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Asset disposal restricted to cost on the computation

Article ID
ias-12110
Article Name
Asset disposal restricted to cost on the computation
Created Date
13th October 2015
Product
IRIS Business Tax
Problem
An asset has been disposed of but this is now being restricted to the cost of the asset on the computation. Why?
Resolution
If the proceeds are higher than the cost of the asset, the amount used to calculate the balancing charge/allowance is restricted to the cost of the asset for assets shown individually on the computation. This is due to the Capital Allowances Act 2001.

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