Forum

• # 117480
• Tue 22 Jan 2019 02:22 PM

Hi,

I am preparing accounts for a small business which began 1/10/2017. I am taking the accounts up to 31st March 2018 to fit in with tax year going forward. So a 6 month accounting/basis period this year. Theres a van worth £5,000 which I am going to claim CAs on. The client is wanting to claim the max tax rebate possible which will mean carrying a loss back to 15/16 tax year, where it will be set against tax paid when they were employed on paid PAYE.

Am I restricted to only claiming £2,500 CAs on this first tax return? 

Thanks

• Gazza

• 
  Quote
  

• # 117513
• Sun 10 Feb 2019 04:17 PM

Gazza said:

“

Hi,

I am preparing accounts for a small business which began 1/10/2017. I am taking the accounts up to 31st March 2018 to fit in with tax year going forward. So a 6 month accounting/basis period this year. Theres a van worth £5,000 which I am going to claim CAs on. The client is wanting to claim the max tax rebate possible which will mean carrying a loss back to 15/16 tax year, where it will be set against tax paid when they were employed on paid PAYE.

Am I restricted to only claiming £2,500 CAs on this first tax return? 

 

Thanks

”

 Hi,

You can add the WDA @18% for the period of account ,pro-rata .

Adina 

• Adina S.

• 
  Quote
  

• # 117517
• Tue 12 Feb 2019 08:11 PM

Thanks Adina S

• Gazza

• 
  Quote