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

Article ID
kba-02876
Article Name
PTP PTR - How to enter a written down value brought forward in Capital Allowances
Created Date
20th July 2011
Product
Problem

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

Resolution

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. Make sure you have a date 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 whether you want 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) you need to then enter a description and then the date purchased or date composite started – This needs to be a date prior to the period you are dealing with. Enter the original cost and click onto Save asset and this will then activate the box on the right hand panel to enter the WDV B/Fwd

 

8. Once the figure is entered click Update Asset

 

9. You can then 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

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