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Tax Written Down Value

[tæks ˈrɪtn daʊn ˈvæljuː]



Tax Written Down Value is the claimable value of an asset, and is equal to the original value of an asset minus any capital allowances claimed on it.

More detail:

Tax Written Down Value is the value of a fixed asset that can be claimed as an Expense against taxable income or profits.

It is calculated by taking the original value of the asset, and subtracting any capital allowances that have been on the asset.

If Annual Investment Allowance has been claimed on the asset, the Tax Written Down Value is zero as 100% of the asset has been claimed already. However, some assets do not qualify for Annual Investment Allowance such as cars owned before business use. It is possible to claim tax relief on these assets through Writing Down Allowances. To do this, Tax Written Down Value must be known.

If the asset is used by a Self-employed individual for personal use and business use, the original value of the asset must be adjusted to take this into account.

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