12.1 Capital Allowance

12.1.1 Running the Capital Allowance Calculator

mouse: double left click with the mouse

keyboard: use the arrow keys to highlight the icon, then press ENTER

Select the Capital Allowances icon in the Forbes Systems group will display a statement of capital allowances.

12.1.2 Entering Data into the Capital Allowances Program

Choose the Add button below the period list to add a period. Use the Change button below the period list or double click on the entry in the list to change a period. In both cases the following dialog is displayed:-

Fill in the title for the period e.g. 5/4/93 for period 1. For periods other than one year fill in the fraction. The calculate button maybe of help doing this.

Similarly choose Add or Change below the pool list to add or change pools. You can specify wda rate, private use and restrictions (e.g. £3000 for cars).

Use the Client button to set client details such as name and tax reference number. To fill in additions and disposals, first select a period and a pool in the appropriate lists then press the additions or disposals button

12.1.3 Printing from the Capital Allowances Program

When you are happy, choose Print from the File menu.

12.2 ProTax Planner

12.2.1 Running the Planner

mouse: double left click with the mouse

keyboard: use the arrow keys to highlight the icon, then press ENTER

Alternatively choose Planner from the Tools menu of ProTax. To import planner figures choose import from the Trades dialog of ProTax Computations.

12.2.2 Running the Planner

Simply fill in the Year ends in the left hand column (see diagram on previous page) and the adjusted profits in the right hand column. Pressing the assessments button will bring up a list of calculated assessments taking into account year ends, PYB CYB, transitional period etc. The total of the assessments is shown. It is therefore possible to experiment with altered profit predictions and year ends.

The assessments button produces a brief display of assessments and a total. The schedule button displays the calculations that were used to work out these figures. The schedule can be printed using Print in the File menu or brought into another wordprocessing package using copy and paste.

For cessations and commencements fill in the dates in the appropriate boxes. . There check boxes for election for taxation on actual basis for first years (section 62 election) and actual basis on cessation (section 63).

Instead of manually entering the adjusted profits, select the profit comp. button to bring up an adjusted profit computation. See the chapter on Adjusted Profits for more details.

12.3 Adjusted profits

12.3.1 Accessing the Adjusted Profits Program

From ProTax planner select “Adjusted profits”. The screen will display an adjusted profit calculation.

12.3.2 Editing the Data

Editing the figures is done directly onto the sheet, by highlighting the relevant box and changing the figures.

12.3.3 Printing

Choose Print from the File menu to print.