{"id":2436,"date":"2014-07-01T00:00:00","date_gmt":"2014-07-01T00:00:00","guid":{"rendered":"http:\/\/dev1.2facearts.com\/uncategorized\/discontinuance-of-trade-and-the-annual-investment-allowance-aia\/"},"modified":"2014-07-01T00:00:00","modified_gmt":"2014-07-01T00:00:00","slug":"discontinuance-of-trade-and-the-annual-investment-allowance-aia","status":"publish","type":"post","link":"https:\/\/hebblethwaites.com\/index.php\/discontinuance-of-trade-and-the-annual-investment-allowance-aia\/","title":{"rendered":"Discontinuance of trade and the Annual Investment Allowance (AIA)"},"content":{"rendered":"<p>\n\tIn a recently decided tax case a self-employed air conditioning engineer, David Keyl, was denied a claim for AIA. He had purchased a van in July 2008 and on 31 March 2009 (the end of his trading year) he transferred his sole trader business to a limited company.<\/p>\n<p>\n\tUnfortunately, the legislation setting up the AIA includes a provision that relief will be denied in the year in which a trade discontinues.<\/p>\n<p>\n\tIn the case of David Keyl his sole trader business ceased to trade 31 March 2009 and therefore no claim could be made for AIA in the tax year 2008-09. The fact that Mr Keyl had continued to provide maintenance under existing contracts made no difference to this judgement.<\/p>\n<p>\n\tThe lesson to be learned here is that a decision to incorporate a business should not be taken lightly. If Mr Keyl and his advisors had reviewed the larger transactions he had entered into during 2008-09, they may well have delayed incorporation to the following year.<\/p>\n<!-- -->","protected":false},"excerpt":{"rendered":"<p>In a recently decided tax case a self-employed air conditioning engineer, David Keyl, was denied a claim for AIA. He had purchased a van in July 2008 and on 31 March 2009 (the end of his trading year) he transferred his sole trader business to a limited company. Unfortunately, the legislation setting up the AIA [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-2436","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/posts\/2436","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/comments?post=2436"}],"version-history":[{"count":0,"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/posts\/2436\/revisions"}],"wp:attachment":[{"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/media?parent=2436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/categories?post=2436"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/tags?post=2436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}