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capital allowances on rental income....

yayatobe · 2017-01-31 14:06:52

What happens when items allowed for under capital allowances need to be replaced before they are fully claimed for? for example, a sofa cost is divided over the 8 years but after 6 years is replaced, what happens to the balance of the unclaimed capital allowance? A) Continue to claim for the old sofa for 2 more years but…

31-01-2017 2:06pm

#1

yayatobe

Registered Users, Registered Users 2 Posts: 15 ✭

Join Date: December 2016

Posts: 6

What happens when items allowed for under capital allowances need to be replaced before they are fully claimed for?

for example, a sofa cost is divided over the 8 years but after 6 years is replaced, what happens to the balance of the unclaimed capital allowance?

A) Continue to claim for the old sofa for 2 more years but also claim for the new sofa at the same time

The balance of the value of the sofa is claimed as a loss and just claim for the new sofa

C) something else

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