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Depreciation |
See Also
Capitalised leased assets | Disposals | Fixed assets | Fixed assets summary | Profit and loss account / Income statement (D schedule) | UK property business analysis | UK property income
Select from the following headings:
Background | Developing the schedule | Completing the Schedule | Standard Sub-Schedules | Carry Forward | Related Errors
This schedule is used for computations for periods ending before 1 April 1998. In the case of computations for later periods, the reconciliations dealt with on this schedule are on the C and C1 schedules.
The depreciation schedule summarises depreciation and profit/(loss) on fixed assets from each expense analysis, and reconciles the total to the fixed asset movement.
This schedule is a master schedule and will be devloped automatically in files for periods ending before 1 April 1998.
Transfer from expense analysis schedules
Lines are inserted from each expense analysis, but are hidden if the corresponding entries on the expense analyses are unused. Similarly, the columns are hidden if unused.
Since entries are transferred automatically, the user will not normally need to make entries on this schedule, but additional rows may be inserted by use of the Ins key.
Capitalised depreciation
In addition, the user may make adjustments in respect of capitalised depreciation to reconcile depreciation charged through the P/L account with the depreciation movement included within fixed assets, in order to generate the correct disallowance in the computation.
Capitalised leased assets
Where a deduction for payments in respect of finance leases is to be given under SP3/91 the user should develop the Capitalised leased assets schedule and complete the caption relating to finance lease depreciation on this schedule. The relevant adjustments will be made automatically.
Investment Companies
The investment company is identical to the trading company version.
Long periods of account
For a long period of accounts, the schedule is identical to that of a short or 12 month accounting period.
For property business related amounts, go to the UK property income schedule and select one row in the Add/(Less): section (you can insert more rows here and rename the description). For the selected row, develop the UK property business analysis schedule. In that schedule enter the appropriate amount(s) in rows 5 and/or 6. You can repeat the above process for each row in the Add/Less: section. The amounts in each UK property business analysis schedule will appear in this schedule and the total will appear in the UK property income schedule.
This schedule has two standard sub-schedules, the Fixed assets summary and the Capital items expensed schedule.
The schedule does not carry forward.
© 2009 Thomson Reuters.