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To access this screen select Edit, Capital allowances and click E - Maintain Pool.
Click here to see a full list of all of the Capital Allowance Rates.
FAQ : The business has ceased, how do I get a balancing allowance on the pool?
FAQ : I do not want to claim any capital allowances for this year/period, what do I do?
If all assets have been entered either through Fixed Asset Register or in A - Maintain Assets the figures here should be complete. However if you did not enter the pooled assets individually the additions and disposals must be entered in total on this screen.
If the WDA or FYA figures are amended such that they do not equal the maximum allowance they are marked with a ‘*’. These figures are not be subsequently amended for any change in additions or disposals. Using the Max. WDA or Max FYA field calculates the maximum allowance and removes the ‘*’.
If this is the first year you have used Business Tax for this client you must enter the pool brought forward figures when you run Re-calculate asset pools.
If the previous periods computations were calculated by Business Tax then the system will complete the Pool B/fwd field for you based on the figure for the pool carried forward at the end of the previous year.
Tick box to amend the WDV brought forward in the general pool to correct:
Situations where the pool brought forward is incorrect
Rounding errors leading to balancing charges
If you have entered assets in Maintain asset details this field will be completed for you although you may amend the field.
If you want to enter the additions in total rather than keeping a record of all the assets then enter the total of all additions which are not eligible for first year allowances in this field.
If you have entered all the assets in Maintain asset details this field will be completed for you although you may amend the field.
If you want to enter the disposals in total rather than keeping a record of all the assets then enter the total of all disposals in this field.
This field holds the total writing down allowance available on the pool brought forward and the additions which are not eligible for first year allowances less the disposals. You may overwrite the value in this field. For example if you do not want to claim capital allowances replace the amount in the field with 0.
If you amend the value in this field so that it does not equal the maximum allowance it will be marked with a ‘*’. Your amended figure will not be subsequently amended for any change in additions or disposals.
Using the Max. WDA field calculates the maximum allowance and removes the ‘*’.
This field is only available for periods commencing on or after 1 April 2008. Ticking this field will reduce the balance on the pool to £0.
If you have entered all the assets in Maintain Asset Details this field will be completed for you although you may amend the field. Business Tax determines whether an asset is eligible for first year allowances by checking whether the 'Qualifies for 100% FYA' field is ticked.
If you want to enter the additions in total rather than keeping a record of all the assets then enter the total of all additions which are eligible for 100% first year allowances in this field.
This box will be completed automatically if the asset(s) has been set up in 'Maintain asset details' with the environmentally friendly box ticked. Where the pooled additions are entered as a total in E – Maintain Pool the user must complete this field to indicate the amount of expenditure that is considered to be environmentally friendly.
If you have entered all the assets in Maintain asset details this field will be completed for you although you may amend the field. Business Tax determines whether an asset is eligible for first year allowances by looking at the date of purchase entered and the size of the business. To check or change the size of the business go to, Business Size.
If you want to enter the additions in total rather than keeping a record of all the assets then enter the total of all additions which are eligible for 50% first year allowances in this field. If the account period falls after the 1st April 2004 this field will be disabled, unless the company business size is small.
If you have entered all the assets in Maintain asset details this field will be completed for you although you may amend the field. Business Tax determines whether an asset is eligible for first year allowances by looking at the date of purchase entered.
If you want to enter the additions in total rather than keeping a record of all the assets then enter the total of all additions which are eligible for 40% first year allowances in this field.
If you have entered all the assets in Maintain asset details this field will be completed for you although you may amend the field. Business Tax determines whether an Annual Investment Allowance is available by examining :
the date of purchase entered on the asset;
whether No not apply AIA has been ticked
the AIA limit for the company.
The annual investment allowance will be applied first to assets in the special rate pool and then to assets in the main pool. If there is any excess allowance available to be utilised on non-pooled assets this must be claimed by the user by changing the allowance claimed for the asset in C - Maintain.
If you want to enter the additions in total rather than keeping a record of all the assets then enter the total of all additions which are eligible for the annual investment allowance in this field. Business Tax will check to ensure the user has not entered a value that exceeds the maximum available for the business.
The system calculates the 100% allowance based on the amount entered in the Additions ( FYA 100%) field.
If you amend the value in this field so that it does not equal the maximum allowance it will be marked with a ‘*’ which means the allowance has been restricted. Using the Max. FYA field calculates the maximum allowance and removes the ‘*’.
The system calculates the 40% allowance based on the amount entered in the Additions ( FYA 50%) field.
If you amend the value in this field so that it does not equal the maximum allowance it will be marked with a ‘*’. Your amended figure will not be subsequently amended for any change in additions or disposals.
Using the Max. FYA field calculates the maximum allowance and removes the ‘*’.
The system calculates the 40% allowance based on the amount entered in the Additions ( FYA 40%) field.
If you amend the value in this field so that it does not equal the maximum allowance it will be marked with a ‘*’. Your amended figure will not be subsequently amended for any change in additions or disposals.
Using the Max. FYA field calculates the maximum allowance and removes the ‘*’.
Business Tax automatically completes this value based on the addition in the 'Additions AIA' field.
Business Tax calculates the balancing charge/allowances available it is not possible to amend this field.
If all assets in the General Pool are disposed of a balancing allowance can only be claimed if the business has ceased to trade. The way in which Business Tax determines whether the trade has ceased varies depending on the option you selected when you entered Business Tax.
If the Car Pool has been disposed of, tick the All assets in pool disposed of field so that the appropriate balancing allowance can be claimed.
If all assets in the General Pool are disposed of a balancing allowance can only be claimed if the business has ceased to trade.
The motor pool has been abolished from chargeable periods that include the 1 April 2000. The balances brought forward need to be added to the main pool. However, businesses can choose to delay the abolition of the separate pool until the start of the chargeable period that includes 1 April 2001.
If you have entered assets into the car pool and they need to be transferred to the general pool, ticking the merge asset pools option will transfer the balance of the car pool to the general pool. This transfer will appear on the Corporation Tax computation. It will show the:
General pool at the start of the period
The Motor pool transfer
Showing a final balance at the end of the period.
Once the pools have been merged the car pool column will become inactive to prevent further data entry.
If a company has an accounting period that spans more than 12 months then there are 2 CTAPS. If a company has an accounting period from 1 January 2000 to 28 February 2001 then:
First CTAP 1 January to 31 December 2000, this period includes 1st April 2000 so this is the period in which the asset pools would normally be merged.
Second CTAP 1 January 2001 to 28 February 2001, when the Maintain asset pools screen is displayed there should be nothing in the car pool and the general pool should include the totals of both pools.
If a company has an accounting period from 1 January 1999 to 31 May 2000 then:
First CTAP 1 January 1999 to 31 December 1999, this period ends before the 1 April 2000 so both pools are required.
Second CTAP 1 January 2000 to 31 May 2000, this period contains 1 April 2000 so this is the CTAP in which the asset pools would be merged.
The car pool has now been removed for any periods falling after 6 April 2001.