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See Also
Allowances - Plant | Car disposals | Disposals | Expensive cars | Expensive cars - supporting schedule | Fixed assets | 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 provides a summary of several Expensive
car schedules and is intended for use by companies that have large numbers
of expensive cars, where using a single schedule would prove impracticable to
work with. Analyses for groups of cars (e.g. Group by make/model or date of
acquisition or price bands etc.) can be called in as sub-schedules of the summary.
Total additions and disposals are reconciled to C
and C1.
Individual lines are created on the summary schedule by developing Expensive
cars - supporting schedules. The user is not required to enter any information
directly on to the summary schedule.
2009 and later years
Cars qualifying for capital allowances based on their CO2 emissions should be added to either the Plant Pool or the Special rate assets pool, depending upon the relevant CO2 emissions. These cars should not be included as de-pooled expensive cars on this schedule.
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This schedule is developed from the Fixed
assets schedule.
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Data should not be entered directly onto this summary schedule. Instead, develop
expensive cars supporting schedules from this schedule and enter details onto
those.
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This schedule has the following standard sub-schedules: Expensive
cars supporting schedule and Car disposals.
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On carry forward, this schedule is automatically developed in the subsequent
computation if it is present in the prior year computation.
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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. Writing down allowances
(WDA) 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 WDAs 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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© 2009 Thomson Reuters.