If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)

Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Deperication and Capital allowances

sallyp · 2009-08-30 19:14:01

Hi Guys Question for you, My year runs from jan - dec and I bought an asset in june. In my accounts i show 6 months dep but when im calculating my capital allowances am I right to show a year capital allowance. S.

30-08-2009 7:14pm

#1

sallyp

Closed Accounts Posts: 7 ✭

Join Date: May 2009

Posts: 1

Hi Guys

Question for you, My year runs from jan - dec and I bought an asset in june.

In my accounts i show 6 months dep but when im calculating my capital allowances am I right to show a year capital allowance.

S.

0

Comments

#2 31-08-2009 8:20am

Bookkeeper09

Registered Users, Registered Users 2 Posts: 266 ✭✭

Join Date: April 2009

Posts: 251

Yes that is correct.
You can claim the full years capital allowance at 12.5%

0
#3 31-08-2009 9:12am

Legend100

Registered Users, Registered Users 2 Posts: 736 ✭✭✭

Join Date: June 2008

Posts: 718

if you adopt the policy of claiming a full years depreciation in the year of purchase and none in the year of disposal, you will be able let your TWDV equal your net book value which makes things a bit simpler from an accounting and tax point of view when the asset is disposed of (assuming you write the asset off over 8 years in the accounts aswel)

0