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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4983
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I know when you incorporate a sole trade you cant claim capital

Resolved Question:

I know when you incorporate a sole trade you cant claim capital allowances in the period of cessation of the sole trade, but just want to know if you can claim AIA or WDA in the first year of incorporation
Submitted: 2 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 2 years ago.
Hello and welcome to the site. Thank you for your question.

You can claim AIA and FYA in the first year of incorporation.

More information on this can be found here

https://www.gov.uk/capital-allowances/first-year-allowances

I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.

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Expert:  taxadvisor.uk replied 2 years ago.
I thank you for accepting my answer.

Best wishes.