Super deduction capital allowance claim

Super deduction capital allowance claim

Didn't find your answer?

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.

avatar
By pauld
28th Sep 2021 17:50

I use Taxcalc and its gone into Box 760 - first year allowance. That is after ticking the box saying the super deduction applies.

Thanks (0)
Replying to pauld:
avatar
By L Haldane
28th Sep 2021 18:23

760 is the box in which the qualifying expenditure is reported.

Which box did the capital allowance claim go into ?

Thanks (0)
Replying to L Haldane:
avatar
By pauld
28th Sep 2021 19:11

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.

Thanks (0)
Replying to pauld:
avatar
By L Haldane
29th Sep 2021 09:07

So super deduction FYA claim goes into box 705. That makes sense and answers my question.

However, on a separate point, your software should not be doubling up your AIA claim by reporting the AIA value in both boxes 690 and 705.
This will surely result in a duplicated capital allowance claim ?

Thanks (0)
Replying to L Haldane:
By Duggimon
29th Sep 2021 11:06

AIA on P&M is always included in the total shown in 705 as well as separately in 690.

Thanks (0)
Replying to Duggimon:
avatar
By L Haldane
29th Sep 2021 12:02

I use Ftax and if AIA is included in both box 705 and 609 the capital allowance is double counted in the computation of the taxable profit, but I see from HMRC's guidance notes that what you say is correct.

Thanks (0)
avatar
By pauld
29th Sep 2021 09:30

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.

Thanks (0)
avatar
By Paz
19th Apr 2023 13:47

Anybody using andica software?

Thanks (0)