My micro-entity Ltd co undertakes engineering consultancy in mainly automotive areas.
I have bought a secondhand, non-registered, non-running (doesn't even have an engine at the moment) kit car to develop our know-how and to try out a few ideas I have for design improvements. Ultimately, I do intend to have this running (likely with a petrol engine in the short term, but possibly electric longer term).
Admittedly, at the time, I did not know that cars were not AIA-able. I'm now wondering how to put this through the books.
Can it be AIA-able if it is not a complete car?
Could it go through as an R&D allowance? (the improvements I'm planning are relatively minor, so might not be classed as R&D)
Do I just stick it in the main pool and take a writing down allowance over then next 5 years or so? (But what CO2 rating - it doesn't have an engine...)
I'm keen just to stick with what is easiest and safest, rather than push the definitions to try and save a little bit of tax...
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