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Fixed asset addition analysis |
See Also
Allowances - Plant | Capital allowances summary | Disposals | Finance lease expenditure restriction analysis | Fixed assets | Fixed assets summary | Long life/Special rate assets (including integral assets)
Select from the following headings:
Background | Developing the schedule | Completing the Schedule | Standard Sub-Schedules | Carry Forward | Related Errors
This schedule is an optional schedule available to analyse fixed asset additions.
This schedule is developed from the Fixed assets schedule.
Where the relevant capital allowance schedules have been developed from the C schedule, the necessary column captions will be automatically displayed on the additions analysis schedule, in which the total additions for that asset category can be entered. The software will then complete the corresponding rows on the C schedule with the total additions of that asset category type.
Revenue/Non qualifying expenditure
There are also columns available to identify the amount of any fixed asset additions which qualify for a revenue deduction or are non-qualifying.
CAA 2001 s220(1)
For FY 1999 computations onwards, the flag in the column entitled CAA 2001 s220(1) restriction apply? can be used to specify additions falling within the provisions of CAA 2001 s220(1) (assets leased by a finance lessor). The software will prorate the expenditure for qualifying for writing-down allowances using the acquisition dates entered by the user.
Where all of the expenditure was made on a single date, that date can be entered at the foot of the relevant column. For an amount comprising several items purchased on different dates, a sub-schedule can be developed to pro rate each item of expenditure separately using its date of acquisition
Any amounts of restricted expenditure are shown as a separate category of addition on the C schedule. The software will also carry forward the restricted amount and include it in additions qualifying for allowances in the following period.
ECA on "green" technologies
For expenditure incurred on or after 1 April 2008, the selector in the final column on this schedule (ECA on "green" technologies?) can be used to specify whether any additions entered directly on to this schedule qualify for enhanced capital allowances on green technologies.
Qualifying amounts can be entered in either the Plant FYA column or the Long life/Special rate FYA column (incidentally these particular columns will only show if the associated capital allowance schedules have also been developed, i.e. Allowances - plant pool and Long life/special rate assets).
The qualifying amounts will then be automatically posted to the Plant Pool, Long life/Special rate assets and Capital allowances schedules as appropriate.
The Finance lease expenditure restriction analysis schedule should be developed where the provisions of CAA 2001 s220(1) apply, as described above, and the relevant assets have been acquired on different dates.
On carry forward, this schedule is automatically developed in the subsequent computation if it is present in the prior year computation. In the subsequent computation, the Taxable/(deductible) amounts brought forward are entered automatically.
© 2009 Thomson Reuters.