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How does Iris deal with the Annual Investment Allowance

Article ID
ias-7637
Article Name
How does Iris deal with the Annual Investment Allowance
Created Date
1st April 2009
Product
IRIS Business Tax
Problem
How does Iris deal with the Annual Investment Allowance?
Resolution
Iris deals with AIA in different ways depending on whether the Asset is a pooled asset or an individual asset as explained below:- POOLED ASSETS ——————— If an asset is set up in Edit – Capital Allowances – option A & the “include in pool” field is ticked, Iris will automatically take AIA on the additions up to the maximum allowance. INDIVIDUAL ASSETS ————————- For individual assets users are required to go into Edit – Capital Allowances – Option C & highlight the asset and select Change, then complete the amount of AIA which can be claimed within the AIA field. (AIA is not taken automatically for non pooled assets as this requires a degree of judgement that the software cannot provide.)

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