This is for payments made for assets under Finance Lease where tax relief is granted for the entries shown in the accounts and not as a Capital Allowance.
The data entry is made on a Period of Account basis and is as follows:-
- Description Please enter a unique description for each asset
- NBV B/fwd This is the Net Book Value of the Asset at the start of the Period of Account. This is automatically populated with the NBV C/fwd value from the previous Period Of Account. This can be overwritten if appropriate.
- Additions This is for the cost of any assets acquired under Finance Lease during the Period of Account
- Disposals This is for the disposal proceeds received on the Finance Lease on its disposal
- Depreciation This is for the depreciation charge as shown in the accounts. This should also incorporate any amount shown as either a profit or loss on disposal of the Finance Lease Asset.
- NBV C/fwd This is the Net Book Value of the Asset at the end of the Period of Account. This is automatically calculated based on the previous data entries made.
Notes can be added to this window. All notes will appear as an appendix to the Corporate Tax computation. Click the click to add notes link at the foot of the data entry area.