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Business Tax: Claim 50% or 130% Super Deduction for Capital allowances

Article ID
business-tax-claim-50-or-130-super-deduction-for-capital-allowances
Article Name
Business Tax: Claim 50% or 130% Super Deduction for Capital allowances
Created Date
13th August 2021
Product
Problem
IRIS Business Tax: How to claim 50% or 130% Super Deduction for Capital allowances
Resolution

This became avaiable in Business tax in 2021 with the IRIS version 21.2.0 (Help | About to confirm version number). Once you are 21.2.0 or later versions then two new checkboxes have been added under capital allowances to claim for Super deduction 130% (Only for LTD) and 50% FYA special pool allowance which have been purchased between the 1st April 2021 – 31st March 2023.  

IRIS will track these assets through their life and apply the specific disposal rules that apply to assets which have had the new Super Deduction FYA allowances applied. 

  1. Edit
  2. Capital allowances
  3. A-maintain assets
  4. Create or open an asset which date of purchase falls within the rules – at the very bottom you can claim either option.
  5. The two options will only show under certain asset types eg: 505, 522, 523, 524, 525(If ‘Motor car rules do not apply is ticked’) 526 because of HMRC rules: https://www.gov.uk/guidance/super-deduction

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