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See Also
Disposals | Fixed assets | IBA site | IBA site (complex)
External Links
HMRC Manuals - Industrial Buildings Allowance (IBA): Contents
Select from the following headings:
Background | Developing the
schedule | Completing the Schedule | Standard
Sub-Schedules | Carry Forward | Related
Errors
This schedule provides a summary of several IBA sites. Analyses for individual
sites can be developed as sub-schedules of the summary. Total additions and
disposals are reconciled to Cand C2.
The investment company variant of the schedule is identical to the trading
company version, except that allowances are treated as allowances by discharge
or repayment of tax. For long periods of account, the movement is duplicated
in the stub period.
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The schedule is developed from the C schedule.
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Data should not be entered directly onto this summary schedule. Instead, develop
individual IBA sites from this schedule and enter details onto those.
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There is a standard sub-schedule, IBA
site (complex), which provides IBA calculations for an individual site or
computations for periods ending after 31 March 1988. Totals of all calculations
from the sub-schedule are transferred to a single row on the IBA summary, and
hence no entries by the user are required on those rows.
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The software will carry forward each sub-schedule site when the new period
is built.
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Error | How to
solve it |
| Sign error | This error results
from the sign conventions used within the software. This error can be
resolved by clicking the  button.
|
| Excess
waiver | This error
occurs when the writing down allowances (WDA) disclaimed are in excess of
the amount of WDAs actually available. Ensure that the WDAs disclaimed are
not in excess of the actual WDAs. |
| Allowances
waived should be positive | This error results
from the sign conventions used within the software. Industrial buildings
allowances (IBA) are deducted from the profit before tax to arrive at
profits chargeable to corporation tax. If the allowances waived are entered
as a negative number, this actually increases the IBAs claimed in this
accounting period instead of deferring them until future accounting periods.
This error can be resolved by clicking the button. |
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