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Disposal leased asset

Heisenburg81 · 2017-07-11 12:00:55

If a leased asset is disposed of, obviously there is no balancing charge/allowance as no capital allowances claimed. Do you have to compute the tax relief already claimed via net lease payments and compare this to the proceeds for a balancing charge etc IE - (Cost Less Net lease payments) versus proceeds? OR is the book…

11-07-2017 12:00pm

#1

Heisenburg81

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Join Date: December 2016

Posts: 187

If a leased asset is disposed of, obviously there is no balancing charge/allowance as no capital allowances claimed.
Do you have to compute the tax relief already claimed via net lease payments and compare this to the proceeds for a balancing charge etc IE - (Cost Less Net lease payments) versus proceeds? OR is the book profit or loss the actual position for tax purposes?

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