Capital Allowances Report

To access this report select Reports, Capital Allowances.

This option generates the capital allowances computation. The following items are shown in tabular form for each individual non pooled asset and each asset pool:

• written down value brought forward

• additions

• disposals

• balancing charge

• balancing allowance

• writing down allowance

• written down value carried forward

• an overall total is shown for all assets.

Beneath this table Business Tax provides a summary of assets scrapped during the year. This list is derived from the Fixed assets maintenance screen entries. An asset is considered to be scrapped if:

• the disposal date entered is within the current period

• the disposal value was zero or the field was left blank.

Next a summary of the total allowances/charges claimed is presented. This includes balancing charges, balancing allowances, first year allowances and the writing down allowance.

Finally, if the additions entered in Business Tax do not agree to the additions entered in the trial balance in Accounts Production, an error report is generated on a separate page showing asset categories which are different.