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ABAs - underlying site | Disposals | Fixed assets | IBA site
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HMRC Manuals - Agricultural Buildings Allowance (ABA): Contents
Select from the following headings:
Background | Developing the
schedule | Completing the Schedule | Standard
Sub-Schedules | Carry Forward | Related
Errors
Agricultural buildings allowances (ABAs) give relief for the capital cost of
constructing an agricultural building or other works.
This schedule provides a summary of several ABA sites. Analyses for underlying
individual sites can be developed as sub-schedules of the summary. Total additions
and disposals are reconciled to C and 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 Fixed assets
schedule.
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Data should not be entered directly onto this summary schedule. Instead, develop
individual ABA sites from this schedule
and enter details onto those.
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There is a standard sub-schedule, ABA
site, which provides ABA calculations for an individual site. Totals of
all calculations from the sub-schedule are transferred to a single row on the
ABA 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 |
| 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. |
| Sign error | This error results from the sign conventions used within the software.
This error can be resolved by clicking the  button.
|
| Allowances waived should be positive | This error results from the sign conventions used within the software.
Agricultural buildings allowances (ABA) 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 ABAs
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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