IRIS Business Tax - Capital Assets - FAQ

Go to Edit | Capital Assets

From the Capital Assets screen select Assets | Add. Enter in a description, date acquired and an amount paid and click on OK.
The asset should then be highlighted, click Dispose.
Enter a disposal date and disposal value and click Add. Once you have clicked Add the disposal date and disposal value field will then be blank and the details will be shown above that. The indexation will be calculated automatically.
Go to Setup | Retail Prices Index and ensure that the index is up to date.

An updated RPI list is available here. We aim to update this towards the end of each month.
After you have disposed of the asset go back into the main Capital Assets screen.

Highlight the asset, click on the Dispose option again to display your disposed asset and highlight the asset, select the ‘claim relief?’ option and select roll over relief from the relief type section.
Go to Edit | Capital Assets | Edit | Losses and Other Information and enter the losses brought forward from previous periods.
If a Capital loss b/f figure was entered into the Chargeable Gains Totals Screen before the Capital Assets became available in Business Tax, you will need to deselect the record totals only option and then enter the capital loss b/f figure in the Edit | Capital Assets | Edit | Losses and other information entry screen.
Whenever you add an asset, enter details or amend entries within a particular area, there should be a help file available within there.

Select Edit | Capital Assets and press F1 to display the Help.
Enter gifts as other capital gains rather than a disposal of the asset. You can then enter the relief applicable to the type of disposal.
Go to Edit | Legacy Data Entry | Chargeable Gains Totals and remove the tick from record totals only.