PTP PTR - How to enter a written down value brought forward in Capital Allowances

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PTP PTR - How to enter a written down value brought forward in Capital Allowances

20th July 2011

How to enter a written down value brought forward in a Partnership Return

1. Select the Partnership Return – View the tax return – Click on View/Enter Details for Trade/Source tab. Go to question 3 and click on pages button. View or add a trading period if one does not exist  

2. Ensure there are dates in box 3.4 and box 3.5  

3. Select the Capital Allowance button and select the period, or Add/Save/Select the required period  

4. Click the Assets tab to enter new additions or disposals  

5. Select pooled or non pooled assets and the asset category from the drop down menu  

6. Click Add Asset and select whether it is an individual asset or composite asset (N.B. Additions in the year may not be added into composite assets)  

7. If entering a written down value brought forward (WDV b/Fwd) enter a description and then the date purchased or date composite started – this needs to be a date prior to the current period. Enter the original cost and click onto Save asset which will activate the box on the right hand panel to enter the WDV B/Fwd  

8. Once the figure is entered click Update Asset  

9. Enter any additions or disposals within the year and the program will calculate any AIA, FYA and WDA to show the figure to carry forward for capital allowances which will flow through into the next period automatically