De-pooling of short-life assets
Article Abstract:
Businesses can obtain full relief during the actual life of short-lived assets (SLA) through the Capital Allowances Act of 1990, ss 37 and 38 in the UK. Legislation provides for the treatment of the asset as a separate trade with each SLA possessing its own pool. The submission of an election to the tax inspector is required for a business to avail of full relief on the asset's net cost within its lifetime, which should be less than five years. Electing for SLA treatment is favorable in cases wherein the asset's written-down tax value is greater than the proceeds of its disposal. Election is allowed within a two-year duration of incurred expenditures and is irrevocable.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1991
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Brand name policy boosts assets
Article Abstract:
Grand Metropolitan PLC, Reckitt & Colman PLC, and Maxwell Communication are among the companies that have begun to include the value of acquired brand names, trade marks, and publishing rights on their balance sheet assets. Grand Metropolitan is capitalizing significant brands based on their purchase price and does not plan to account for value added to the brands since their acquisition. Other brand valuation trends include only amortizing brands or rights with a finite life and only valuing purchased brands because of the difficulties inherent in valuing existing brands.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1988
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Assets presentation revised
Article Abstract:
Lloyds TSB revised the presentation of certain assets in its accounts for the year ended 31 December, 2000. The assets held for leasing to customers under operating lease agreements are now included with tangible fixed assets, and the change does not change the before-tax profit.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2001
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