Just doing my first super deduction capital allowance claim in respect of equipment that would normally go into the plant & machinery main pool.
Does the super deduction value go into box 705 on the CT600 (main pool capital allowance) or should it go into 725 (other allowances) ?
I use Ftax software and the latest version has not been updated for super deductions which doesn't help !
Replies (8)
Please login or register to join the discussion.
I use Taxcalc and its gone into Box 760 - first year allowance. That is after ticking the box saying the super deduction applies.
Good point. My return shows AIA (claim for items not qualifying for super deduction) in 690 and then also includes that amount + super deduction in box 705 . Not sure if that looks correct but calculation of allowances by the software is correct.
Yes that is what I thought when I saw it. As the tax calculation was correct, I actually hadn't checked the entries on the return. The return is not filed yet and so cant check if HMRC have claimed allowances from both boxes. It does however look like a software error and will need to investigate further.