From: Peter Saxton 
Newsgroups: uk.finance
Subject: Re: Anyone here familiar with Partnership Self-Assessment?
Date: Tue, 06 Jan 2004 10:25:23 +0000

On Tue, 06 Jan 2004 10:09:21 GMT, santropez@tiscali.co.uk (San Tropez)
wrote:

>On Mon, 05 Jan 2004 23:58:48 +0000, Peter Saxton
> wrote:
>
>>On Mon, 5 Jan 2004 22:55:12 +0000, David Floyd 
>>wrote:
>>
>>>In message of Mon, 5 Jan 2004, Peter Saxton writes
>>>>On Mon, 5 Jan 2004 12:45:20 +0000, David Floyd 
>>>>wrote:
>>>>
>>>>>In message of Mon, 5 Jan 2004, San Tropez writes
>>>>>>On Mon, 05 Jan 2004 10:44:49 +0000, Peter Saxton
>>>>>> wrote:
>>>>>>
>>>>>>>On Mon, 05 Jan 2004 10:25:35 GMT, santropez@tiscali.co.uk (San =3D
>>Tropez)
>>>>>>>wrote:
>>>>>>>
>>>>>>>>On Mon, 5 Jan 2004 10:23:14 -0000, "Doug Ramage"
>>>>>>>> wrote:
>>>>>>>>
>>>>>>>>>
>>>>>>>>>"San Tropez"  wrote in message
>>>>>>>>>news:3ff926fe.2323129@news.individual.net...
>>>>>>>>>> In particular, I'm looking for guidelines on capital =
allowances.=3D
>>  The
>>>>>>>>>> forms are a little vague on this.  Our only capital asset is a
>>>>>>>>>> second-hand van bought for =3D3DA31500 in November 2003 and =
I'd =3D
>>like to =3D3D
>>>>>>>know
>>>>>>>>>> what percentage of this I can claim as a capital allowance on =
=3D
>>the
>>>>>>>>>> 2002/3 self-assessment.  25%?
>>>>>>>>>
>>>>>>>>>Zero.
>>>>>>>>>
>>>>>>>>>Or was the date of purchase 2002, rather than 2003?
>>>>>>>>
>>>>>>>>Sorry, well-spotted.  It was in fact bought in November 2002 and =
I
>>>>>>>>amend my question accordingly.
>>>>>>>
>>>>>>>So my amended answer reads:
>>>>>>>
>>>>>>>"It depends on your accounting year end."
>>>>>>
>>>>>>Our 2002/3 accounting year ended on 5th April 2003.  The =
partnership
>>>>>>was formed on 25th November 2002.
>>>>>>
>>>>>
>>>>>Then you need proper advise from your Tax Adviser/Accountant. Not =
the
>>>>>various conflicting answers you might get in a public newslist.
>>>>>
>>>>>DF
>>>>
>>>>I think you'll find that the only thing that has been incorrect is =
the
>>>>original date given by the OP!
>>>>
>>>>
>>>
>>>Has anyone mentioned FYA? - No!
>>>
>>>DF
>>
>>Point taken. Yes, he could claim up to 40% FYA pro rata if it's a
>>small business partnership.
>
>According to someone at the tax office, I can claim 40% of the value
>of the asset in the asset's first year, even though the partnership
>has only existed for four months. =20
>=20
Yes. You're right, it's WDA's that are pro rata. Make sure you will
actually pay less tax before claiming any capital allowances first
though.


--=20
Peter Saxton from London
peter@petersaxton.co.uk