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Disposals |
See Also
Allowances - Plant | Capital assets expensed | Car disposals | Fixed asset addition analysis | Fixed assets | Fixed assets summary
Select from the following headings:
Background | Developing the schedule | Completing the Schedule | Standard Sub-Schedules | Carry Forward | Related Errors
The disposals schedule analyses disposals of tangible fixed assets, as per the accounts. It forms part of the skeleton present in every computation. The schedule will be suppressed if not used.
The schedule is developed automatically when a new period is created.
Schedule sign convention
The schedule follows the Debit / (Credit) sign convention for income and expenditure; hence asset costs are positive, disposal proceeds are negative (i.e. income).
For computations ending after 31 March 1997, the rows presented on this schedule will depend upon the capital allowance schedules developed in the computation on the C schedule.
Details of cost, depreciation and disposal proceeds are analysed by tax category of asset.
Proceeds for tax calculation if different
Where disposal proceeds differ on an item by item basis (e.g. proceeds exceed cost), the proceeds to be used for the tax calculation should be entered in the last column.
Caption headings
Certain captions (e.g. scientific research allowances) may be altered as required.
Row suppression
Rows which are not used will automatically be hidden, as will the proceeds limited to cost column.
Investment companies
The investment company variant is identical to the trading company version.
Long periods of account
For long periods of account the schedule has two sets of analyses, one for each accounting period.
This schedule has the following standard sub-schedules: Fixed assets summary, Capital items expensed and Car disposals.
The schedule does not carry forward.
© 2009 Thomson Reuters.