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To access this screen, select Edit, Buildings Allowances then click New to add a building or highlight a building and select Edit.
This option is ticked automatically when new buildings are entered in Business Tax.
When an asset has been set up in the Fixed Asset Register a tick has to be entered manually.
By un-ticking this field and saving, all building allowances data are deleted. The only fields not deleted, are those used in the Fixed Asset Register.
Where a business has multiple trades, each individual asset must be allocated to a specific trade. Select the trade by selecting the Trade name drop-down option.
Enter the asset type and description here. The number is generated automatically.
This section is pre-filled when highlighting a building in the main screen and using the Add Improv Button.
If the New button was used and the building is an improvement tick this field.
tick this box to activate the Parent Building Field.
use the magnifier to select a Parent.
Click here to see instructions on selecting and editing Parent Buildings.
Entering a New building activates the Site field and the magnifier can be used to add or select a site. Click here to see instructions on how to enter a new site.
Selecting an improvement deactivates this field and the site used is the same as the parent site.
This field is not mandatory.
When Selecting a New asset this field is active and there are four types of buildings to choose from,
Industrial
Agricultural
Hotels
Enterprise zone
The choice made may effect the options available on this screen and the allowances calculated.
If the addition is an improvement then building type is deactivated and defaults to the same building type as the parent.
Use this button to set up the start and end dates for periods of non-industrial use. Where the chargeable period end date falls into a period of non-industrial use notional allowances are given.
The total number of days of non-industrial use is also used in disposal calculations.
To see how to set the periods of non-industrial use click here.
Enter the total cost of the building. This is the same as the cost in Fixed Asset Register.
The field defaults to the amount entered in the Total field. It can be overwritten.
Enter the date of purchase. This is the same as the purchase date in Fixed Asset Register.
The date defaults to the first day of the chargeable period, but can be overwritten.
Ticking this box activates the fields in this group.
Enter the remaining tax life of a second hand building.
Enter the residue before the sale of the building in this box. This is then divided by the remaining tax life to calculate the WDA figure.
Tick this field where s343 applies to activate,
Qualifying expenditure - incurred by original owner, and
Date of expenditure - incurred by original owner.
Business Tax uses,
Qualifying expenditure - residue at purchase as the addition value.
Qualifying expenditure - incurred by original owner - to calculate the annual allowance.
Allowance start date - to time apportion the allowance for the period in which the transfer occurred.
This applies to limited companies only.
This tick box is only available for agricultural buildings. Where this box is ticked Business Tax uses,
Qualifying expenditure - residue at purchase as the addition value.
Qualifying expenditure - incurred by original owner - to calculate the annual allowance.
Allowance start date - to time apportion the allowance for the period in which the transfer occurred.
Currently this tick box is for memorandum purposes only. It has no effect on the computation.
Enter the date of disposal, to activate all fields in this group.
Enter the total disposal proceeds, this figure is the same as entered in the Fixed Asset Register.
Enter the proceeds that apply to the part of the asset on which building allowances can be claimed.
If the building is being transferred there is no balancing allowance or charge, and a tick needs to be entered manually into this box.
This only applies to limited companies.
Ticking this box enables the transfer of the asset at its WDV.
No allowances will be claimed in the period if this is ticked.
This field is only available for agricultural buildings.
If this is ticked Business Tax calculates a writing down allowance for the period, but no balancing allowance or charge.
The allowance will be time apportioned based on the disposal date.
There will be no residue carried forward.
This field is only available for agricultural buildings.
If this is ticked Business Tax calculates a balancing allowance/charge on the disposal of the building.
Balancing adjustments will not be calculated for buildings disposed of on or after 21 March 2007 unless there was a pre-commencement contract. If this is ticked Business Tax will recognise a ‘Pre-commencement contract’ and calculate a balancing adjustment.