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Research & Development Allowances

Last modified 12:30, 15 Feb 2017

Overview

You can use this to claim Capital Allowances on expenditure for Research & Development.  The data entries are made by reference to the Accounting Period rather than the Period of Account.

Data Entry

How to enter data in the wndow.

  1. Description    This must be a unique description for each line used
  2. Date of expenditure   This is a manual entry
  3. Unclaimed b/fwd    This is a manual entry for the first Accounting Period.  It is not available if the asset is acquired in the Accounting Period. In subsequent Accounting Periods it is taken from the value reported in Unclaimed c/fwd in the previous period.
  4. Unclaimed b/fwd override    This is a manual entry and the value is used instead of the value contained in the Unclaimed b/fwd field.
  5. Cost    This is a manual entry for the first Accounting Period, and also for a new asset entered. For subsequent Accounting Periods this value is brought forward from the entry in the previous Accounting Period.
  6. Date of Disposal    This is a manual entry
  7. Allowances claimed    This is a manual field and is only available in the Accounting Period in which the asset is acquired.  The amount of Capital Allowances claimed is not auto populated.
  8. Balancing charges    This is read only and it is a calculated field
  9. Unclaimed c/fwd    This is read only and is a calculated field.  It is used to populate the Unclaimed b/fwd in subsequent Accounting Periods.

 

r and d view.gif

 

Notes

it is not possible to claim a balancing allowance on the disposal of a Research and Development Asset

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