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Non-Pooled Assets will need to be registered individually within the A Maintain Assets section.
Run this option after non-pooled assets have been entered in Maintain asset details to calculate the capital allowance available for the period for non-pooled assets.
The calculation is based upon the closing WDV of the previous period, provided this period is registered on Business Tax. If the period is not registered, Business Tax uses the details entered in Maintain Asset Details to calculate the opening WDV.
If this option is run again once amendments for private use etc. have been made in Maintain individual assets these amendments will be removed and must be re-entered. However, this option must be run again if any amendments are made to non-pooled assets in Maintain Asset Details.
Select Edit | Capital
allowances and click C - Maintain
to access this option.
Click here for Capital Allowance FAQs
When you select the option a list of the non-pooled assets will be displayed. Highlight the one you want to alter and then click Change to display the Maintain individual assets screen.
Business Tax allows the transfer of an asset to a pool during the period. However, if the asset is registered as a car, and the WDV is over the expensive car threshold it cannot be transferred. An asset transferred to the pool must be entered as an addition in E - Maintain Pool.
To enter supplementary additions select Edit followed by Capital Allowances and then C - Maintain.
Select the asset for which you want to enter a supplementary addition and enter the appropriate amount in the Additions field.
If a change has been made to the supplementary additions field use ALT+F1 whilst in the WDA/ FYA field to recalculate the allowance as this is not done automatically.
If the company has excess annual investment allowance that could not be used against additions in the pools use the AIA field to claim an allowance against non-pooled assets. If this field is used the WDA field should also be adjusted.
This field will be disabled if the:
period ends on or before 31 March 2008
asset has 'Do not apply AIA' ticked in option A - Maintain assets.
the asset is a motor vehicle
This field allows users to amend the WDA claimed in the period. Press Alt +F1 in this field to calculate the maximum figure that can be claimed. If you do not want to claim capital allowance replace the amount in this field with 0.
The capital allowances option operates in the same way for partnerships and sole traders as it does for limited companies, apart from the private use restriction (which is not available for limited companies).