The amount by which the sale price of an asset will exceed its written down value. This written down value is actually thought to be the actual value of that asset for purposes of taxation. Therefore, the balancing charge will be considered as profit and it will be taxable.
Related information about balancing charge:
- Balancing Charge - Financial Dictionary - The Free Dictionary
The amount by which the sale price of an asset exceeds its written-down value. The written-down value is considered the actual value of the asset for tax ...
- What is balancing charge? definition and meaning
Definition of balancing charge: The amount by which the sale price of an asset ... Therefore, the balancing charge will be considered as profit and it will be taxable.
- balancing charge - IRAS
When your fixed asset is sold or written off, you need to calculate balancing allowance (BA) or balancing charge (BC) if capital allowance had been claimed ...
- Helpsheet 252
Apr 5, 2012 ... An adjustment, known as a balancing charge, may arise when you sell an asset, give it away or stop using it in your business. Balancing ...
- Citizens Utility Board Natural Gas | Gas Market Monitor | Gas ...
The "balancing charge," also called the "customer select charge," is a per-therm fee that can change monthly, ranging from a few cents per therm to about eight ...
- Part 19-02-12
Feb 19, 2012 ... Any balancing charge which arises is deducted from the allowances even where there is an election under Section 290 (option in the ...
- Balancing charge on cessation | AccountingWEB
Nov 11, 2012 ... In calculating the balancing charge, on HMRC website, (example at bottom of page) it only takes into account apportionment in the years prior ...
- Balancing Allowance
Mar 31, 2007 ... Balancing Charge arises when the sale proceeds of the asset exceed the ... The amount of Balancing Charge is restricted to the actual capital ...