Record super deduction assets for plant and machinery - main pool

You can record super deduction assets for plant and machinery in the Trade Profits section, on the Capital allowances tab.

This allows for the input of expenditure incurred for a Super deduction allowance claim. It also allows for the input of disposals of assets where a Super deduction allowance was previously claimed.

Applicable information is automatically rolled forward until the asset is disposed of.

  1. Add the Trading profits section to the return (or select it if already added), then select the Capital allowances tab.

  2. On the Plant & machinery - Main pool column, select Edit.

  3. Select the Super deduction assets tab

  4. For each item, complete as follows, then select Save changes. A new line is automatically added. Unwanted lines can be deleted using the bin icon.

 Enter a brief description of the expenditure.

 Enter the date of the expenditure, which must be within the accounting period and be within 1/4/2021 and 31/3/2023. If the date does not match either of this criterion then the additions value will not appear in the Calculation tab and no allowances or charges will be brought into account.

Enter the amount of the expenditure. Do not enter pence.

Enter the date of the disposal. This date should be within the accounting period.

Enter the date the asset was sold which must be within the accounting period. If the date does not match this criterion, then the disposal will not be taken into account in the Calculation tab. Enter the disposal proceeds, or the market value if applicable. Be sure to limit the sale proceeds to the original acquisition cost unless the disposal is not at arm’s length.

On the disposal of an asset on which super deduction allowances were previously claimed results in a balancing charge which is based upon the period in which the asset is disposed of, and 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 a factor is applied:

    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 disposal proceeds.