Closing my Ltd - bicycle disposal

[Craig@Clarity]

In relation to starting another accounting period?

In terms of claiming AIA. A balancing charge deals with any overclaim of capital allowances so if you're looking to complete a financial year just to claim AIA in relation to the disposal of a bike before winding the company up, it makes not difference.

[Rafd]

In terms of claiming AIA. A balancing charge deals with any overclaim of capital allowances so if you're looking to complete a financial year just to claim AIA in relation to the disposal of a bike before winding the company up, it makes not difference.

Thanks for the help, apologies for being a dunce but I don't totally follow as this stuff is new to me. So if I keep the company open for a further year, the claim for AIA would still not be allowed?

[Craig@Clarity]

Thanks for the help, apologies for being a dunce but I don't totally follow as this stuff is new to me. So if I keep the company open for a further year, the claim for AIA would still not be allowed?

Yes it would be allowed. All I'm saying is there is no tax advantage to gain from claiming AIA if you're going to get rid of the bike when you wind the company up as you'll be hit with a balancing charge.

[Rafd]

Yes it would be allowed. All I'm saying is there is no tax advantage to gain from claiming AIA if you're going to get rid of the bike when you wind the company up as you'll be hit with a balancing charge.

Ok, even given that the bike will have devalued?

[Craig@Clarity]

Ok, even given that the bike will have devalued?

Yes.