Writedown Tax Value Query

[Francescowan]

I'm new to this forum although having come across it before, I did purchase the DIY Accounting software - which is brilliant.

My query stems from the fixed assets calculations. In year one we purchased a van for £2300 and the written down book value at April 10 was £1725. I transfered all this information to year 2 and then we sold the van. The accumulated depreciation has been calculated at £1150 and we sold the asset for £1332. The functions are producing an error in the capital allowance box if I put the written down tax value as £0 - I am therefore assuming that it shouldn't be £0!!

Please can someone help point me in the right direction - I hope I've given enough information, and thank you in advance.

Frances

[MyAccountantOnline]

I'm new to this forum although having come across it before, I did purchase the DIY Accounting software - which is brilliant.

My query stems from the fixed assets calculations. In year one we purchased a van for £2300 and the written down book value at April 10 was £1725. I transfered all this information to year 2 and then we sold the van. The accumulated depreciation has been calculated at £1150 and we sold the asset for £1332. The functions are producing an error in the capital allowance box if I put the written down tax value as £0 - I am therefore assuming that it shouldn't be £0!!

Please can someone help point me in the right direction - I hope I've given enough information, and thank you in advance.

Frances

Hi Frances

I wonder if you may be best asking your question directly to DIY Accounting - I am assuming you get free support with the package?

I'm not sure if you are aware of the AIA - Annual Investment Allowance? Do have a look at that and, or, query this with DIY Accounting.

If the WDA brought forward was correct you'd have a balancing allowance in year 2 and a zero WDV.