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Projected payments on account - capital allowances |
See Also
Payments on account | Projected payments on account - workings
Select from the following headings:
Background | Developing the schedule | Completing the Schedule | Standard Sub-Schedules | Carry Forward | Related Errors
This schedule provides for the calculation of capital allowances for each of the four estimates for the projected period.
The schedule can be developed from the A schedule using the Develop menu and Tax.
Some of the cells are described in more detail.
FIRST ESTIMATE
TWDV b/f
The system will display TWDVs carried forward from the B schedules of the current period computation. The user enters estimates for additions, capital items expensed, disposals and balancing allowances/charges next to the relevant numbered estimate.
IBAs
For IBAs, the user enters the relevant cost on which allowances are calculated at the base of the schedule.
Expensive cars
For expensive cars, the user must enter the number of vehicles which are at the WDA limit of £3,000, together with the total TWDV of cars which are below the WDA restriction.
Other
If a type of allowance is relevant that was not included in the prior period, the user can enter additions, disposals etc in the columns headed Other. This column should be labeled appropriately, and the user should select the method for calculating allowances using the selector at the foot of the schedule.
Alternatively, the user could develop the relevant B schedule in the current period computation so that the roll forward into the S2 schedule is automatic.
SECOND/THIRD/FOURTH ESTIMATES
Estimates 2, 3 and 4 in this schedule are hidden unless relevant additions, capital items expensed, disposals or balancing charges are entered. If no such entries are required, the estimates will only be displayed if 0 (zero) is entered against one of the relevant estimate captions.
Investment companies
For an investment company, the software will separate those allowances that are treated as deductible against UK property income from those treated as management expenses, and link them to the appropriate section of the S schedule.
There are no standard sub-schedules.
On carry forward, this schedule is automatically developed in the subsequent computation if it is present in the prior year computation.
© 2009 Thomson Reuters.