Patents

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Overview

You can use this to claim Capital Allowances for qualifying expenditure incurred on Patents on or before 31 March 2002

Claiming Relief

This is located at Trading Income>Trade Name>Capital Allowances>Other>Patents

  1. The data entries are self explanatory.

  2. The Tax written down value brought forward (TWDV) is a manual entry for the first AP.

  • In subsequent APs it is taken from the TWDV carried forward from the previous AP.

  • If any amendment is required then use the TWDV brought forward override

Note

Writing Down Allowance is given on a 25% Reducing Balance method.
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