E Reliefs (2) Flashcards
1
Q
What is the base cost?
A
The indexed csot. Which is unindexed cost + indexation allowance
2
Q
Capital allowances first step procedure?
A
Add up all the assets then deduct the AIA
3
Q
Tenant owing rent?
A
Is treated as an impairment. This impairment is then deducted
4
Q
How is interest on loan to purchase a shop treated?
A
Treated as non-interest loan payable (deducted in corporation tax)
5
Q
Which CGT relief is available for companies as well as individuals?
A
Rollover relief
6
Q
What happens with capital loss b/f (Section E computation)?
A
Deducted from chargeable gain
7
Q
Chargeable gain when there’s indexation?
A
Proceeds - indexed cost (ignore second column working, just do two columns in computation)
