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Multiple mineral extraction allowances (25%)
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See Also
Capital allowances summary | Fixed assets | Mineral extraction allowances (10%) | Mineral extraction allowances (25%) | Multiple mineral extraction allowances (10%)
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 Mineral extraction allowances (25%) items. The provisions for allowances
available at 25% are similar to those for plant and machinery and will apply
to periods ending after 1 April 1986 (CAA 2001 s 418).
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This schedule is developed from the 'C' schedule using the Other Allowances
sub-menu. It will then be stored within the 'B' pack of schedules.
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Analyses for individual Mineral
extraction allowances (25%) items should be developed as sub-schedules of
the summary, and there should be no data entry by the user on the face of the
schedule except for amounts of allowances waived.
Once the supporting schedule has been developed and completed, the amounts
will then populate this summary schedule, the totals of which will then flow
into the Capital allowances summary
schedule.
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There is one standard sub-schedule, the Mineral
extraction allowances (25%). Multiple copies of this schedule may be
created as appropriate.
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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.