Record calculations for plant and machinery - main pool

Enter the written down value of the pool brought forward from the previous period. If the information was rolled forward from a previous period then the written down value will already be populated.

If you have used the Asset movements tab to enter the purchases in the period, then this field will show the total expenditure that is eligible for First Year Allowances.

If you have not entered any asset movements then you can manually enter a figure of eligible expenditure. First Year Allowances of 100% are available for expenditure on certain energy-saving and water efficient equipment, new cars with very low carbon dioxide emissions, certain vehicle gas refuelling equipment, zero emission goods vehicles and plant and machinery for use in certain enterprise zones. Refer to the HMRC guide.

If you do not wish all of the expenditure eligible for the 100% First Year Allowance to be claimed for any reason, input the amount not to be claimed. This expenditure will instead become eligible for writing down allowance.

Shows the amount of First Year Allowance claimed in the period.

 Shows the expenditure on which the 100% First Year allowances being claimed on plant and machinery expenditure within a Freeport tax site. To make a claim create the associated asset using the Freeport FYA assets tab.

Shows the amount of First Year Allowance claimed in the period.

Shows the expenditure on which the 130% Super Deduction is being claimed. To make a claim enter the expenditure incurred into the grid on the Super deduction assets tab.

The appropriate allowances available on the expenditure incurred are automatically calculated.

The rate of the allowances available is different where the asset is purchased in a return period that straddles 31/03/2023. Instead of 130% a factor is calculated as follows:

1. Number of days before 1/4/2023 / total number of days in the period

2. Multiply (a) by 0.3

3. Add 1

The factor is then applied to the cost of the expenditure.

If you have used the Asset movements tab to enter the purchases in the period, then this field will show the total expenditure that is eligible for Annual Investment Allowance. If you have not entered any asset movements then you can manually enter a figure of eligible expenditure.

Input the amount of Annual Investment Allowance actually claimed. The AIA limits panel on the right-hand side of the page shows the maximum AIA that can be claimed in the period for all asset types (assuming that the business is not sharing the AIA limit with another entity).

If you have used the Asset movements tab to enter the purchases in the period, then this field will show the expenditure that is not eligible for First Year Allowance or for Annual Investment Allowance. If you have not entered any asset movements then you can manually enter a figure for the remaining expenditure.

Shows the expenditure which is eligible for FYA but which has not been claimed (from the FYA not claimed field above).

This field shows the expenditure which is eligible for AIA but for which AIA has not been claimed (the difference between the Additions eligible for AIA and AIA claimed fields).

If you have used the Asset movements tab to enter the disposals in the period, then this field will show the total disposal proceeds from the pool. If you have not entered any asset movements then you can manually enter the total disposals.

Shows any calculated balancing allowance or balancing charge for the period. A balancing allowance will only arise on the pool when the business or qualifying activity is ceasing.

A balancing charge arises on the disposal of an asset on which Super Deduction allowances were previously claimed. IRIS Elements Tax and Accounts will automatically calculate the appropriate amount based upon the date of disposal and disposal proceeds entered on the Super Deduction assets tab. For information the balancing charge is calculated using a rate applied to the disposal proceeds as follows:

• Periods that end before 1/4/2023 – 130%

• Periods starting on or after 1/4/2023 – 100%

• Period that straddles 31/3/2023 the same factor as for additions (see above) is applied.

This field is the sum of the Balancing allowance/(charge) plus Balancing charge on Super Deduction expenditure.

Shows the balance that is eligible for writing down allowances. This is calculated from the written down value brought forward, plus additional expenditure, minus any disposals, AIA and FYA claimed.

Where the residue in the pool is less than the Small Pools Allowance limit for the period then the entire pool can be written down and this field will show the value of the pool to be written down. If the accounting period is longer or shorter than 12 months then the limit will be adjusted accordingly.

Shows the writing down allowance claimed on the remaining pool balance. Where the period straddles a rate change the rate will be adjusted accordingly.

If you want to disclaim any writing down allowances, input the amount not claimed. This will remain in the pool to be relieved in a future period.

Enter the value of any short life assets transferred into the pool at the end of the period.

Shows the pool residue to be carried forward to the next period. When the tax return for the next period is created, this balance will be brought forward into the new period.

Enter the amount of expenditure incurred on environmentally friendly assets. This value can be seen in Box 765 of the CT600. Any allowances on this expenditure should be entered within the Calculation section of this data entry.

Enter the allowances claimed on zero emissions goods vehicles.

Enter the disposal value of asset(s) disposed of during the period.

Enter the allowances claimed on Enterprise Zones.

Enter the disposal value of asset(s) disposed of during the period.

Enter the FYA claimed on electric charge points. Ensure the FYA claimed is entered into the Additions eligible for FYA field in the Calculation section.

Enter the disposal value of asset(s) disposed of during the period.

Enter the allowances claimed on zero emissions cars. Ensure that the allowances claimed are included in the Calculation section. Note that if the period straddles 1/4/2021 the value from this field is shown in box 725 of the CT600. If the period starts on or after 1/4/2021 then the value is shown in box 726.

Enter the disposal value of asset(s) disposed of in the period. This is a requirement of the CT600 (2021) but will only be shown in box 727 where the period starts on or after 1/4/2021. If the period started before this date the value is not required to be shown on the CT600.