Fixed asset register

The Fixed asset register can be used to record the company's assets. Any assets on which you are claiming capital allowances and intangible fixed assets acquired on or after 1 April 2002 must be entered here. Do not enter assets that are subject to chargeable gains rules, such as freehold property, unless the asset is eligible for capital allowances, such as those on which structures and buildings allowances can be claimed.

To add the details of an asset, select Add. This will open an Add new fixed asset page. To amend the details of an asset, highlight it on the Fixed asset list and select Edit.

Asset details

Enter the reference and description of the asset. If the asset has not been capitalised in the accounts, then deselect Asset capitalised in the accounts.

Acquisition details

Enter the acquisition date and cost as well as the amount of any grants received towards the cost.

If Super-deduction, SR allowance, FYA - Full expensing or FYA - Part expensing is selected, at Qualifies for, additional boxes are displayed to calculate the super-deduction or SR allowance respectively. Enter the amount of Other related expenditure (if any) that is included in the Net cost, but which is not eligible for either the super-deduction or SR allowance. The amount of any Other related expenditure must be added as a separate asset in the Fixed asset register and capital allowances claimed, if and as appropriate. The Other related expenditure is deducted from Net cost to determine the Super-deduction expenditure, SR allowance expenditure, FYA - Full expensing expenditure or FYA - Part expensing expenditure respectively.

The Relevant percentage for the Super-deduction is determined by the Acquisition date, the end of the accounting period in which that falls and will be up to 130%. The Relevant percentage for FYA - Full expensing is always 100%. The Relevant percentage for the SR allowance and FYA - Part expensing is always 50%.

The Super-deduction or SR allowance is determined by multiplying the Super-deduction expenditure or SR allowance expenditure, respectively, by the Relevant percentage.

Disposal details

If the asset was disposed of during the period, then enter the disposal date and proceeds.

The Disposal proceeds for capital allowances figure (where shown) is the lower of the Disposal proceeds and the Net cost.

If Super-deduction, SR allowance, FYA - Full expensing or FYA - Part expensing is selected at Qualifies for, additional boxes are displayed to calculate the balancing charge on the disposal of the asset on which the Super-deduction, SR allowance, FYA - Full expensing or FYA - Part expensing was claimed. The Disposal proceeds for capital allowances is not taken into account in the Main rate assets pool or short life asset but is used when calculating the Balancing charge on disposal of assets on which the Super-deduction or FYA - Full expensing was claimed. The Disposal proceeds for capital allowances is taken into account in the Special rate assets pool when calculating the Balancing charge and the Balance of the disposal proceeds for capital allowances on disposal of assets on which the SR allowance or FYA - Part expensing was claimed.

The Relevant proportion of disposal proceeds is the proportion of the Net cost at Acquisition details that is Super-deduction expenditure, SR allowance expenditure, SR allowance expenditure, FYA - Full expensing expenditure or FYA - Part expensing expenditure respectively.

The Relevant factor for the super-deduction is determined by the Disposal date, the end of the accounting in which that falls and will be up to 1.3. The Relevant factor for FYA - Full expensing is always 1. The Relevant proportion for the SR allowance and FYA - Part expensing is always 0.5.

The Balancing charge is determined as follows:

  • For assets on which super-deduction or FYA - Full expensing was claimed: by multiplying the Relevant proportion of disposal proceeds by the Relevant factor
  • For assets on which SR allowance or FYA - Part expensing was claimed: by multiplying the Disposal proceeds for capital allowances by the Original SR allowance expenditure or FYA - Part expensing expenditure and by the Relevant proportion and dividing by the Total expenditure (which is the Net cost).

The Disposal value of Other related expenditure must be entered as the Disposal proceeds of the separate asset added to the Fixed asset register that represents the Other related expenditure at Acquisition details.

Capital allowances

Asset qualifies for capital allowances This is populated by default. Deselect if the asset is an intangible fixed asset.
Business activity

Use the drop-down list to select the activity in which the asset is used. If the activity doesn't appear in the list, then add it at Business activities.

If Asset qualifies for capital allowances is deselected, then this is disabled.
Type

If Asset qualifies for capital allowances is selected, then select the option in the drop-down list which describes the claim or pool to which the asset is to be allocated. If Asset qualifies for capital allowances is deselected, then this defaults to Intangible fixed asset and is disabled.

  • Business premises renovation will only appear in the drop-down list if Acquisition date at Acquisition details is on or before 31 March 2017 and if Business activity is either a UK trade or UK property business. Business premises renovation relief is not available for assets acquired after 31 March 2017.
  • Structures & buildings will only appear in the drop-down list if Acquisition date at Acquisition details is on or after 29 October 2018.
  • Structures & buildings - Special tax sites will only appear in the drop-down list if Acquisition date at Acquisition details is between 19 November 2021 and 30 September 2026 (both dates inclusive) and if Business activity is any of a UK trade, UK property business or Investment management.
Elected to exclude as intangible fixed asset Select if the asset is software which is an intangible fixed asset and you have elected to exclude it from Intangible fixed assets.
Qualifies for

If Asset qualifies for capital allowances is selected, then select the capital allowance claim you are making from:

  • None of the below
  • AIA
  • FYA - ECA (other)
  • FYA - ECA (within enterprise zones)

  • FYA - Zero-emission goods vehicles

  • FYA - Electric charge-points

  • FYA - Zero-emission cars

  • FYA - Other

  • Super-deduction

  • SR allowance

  • FYA - Full expensing

  • FYA - Part expensing

  • FYA - ECA (within Special tax sites)

If Asset qualifies for capital allowance is deselected, then the options are disabled.

Note:

  • AIA means Annual investment allowance

  • FYA means first year allowance
  • ECA means enhanced capital allowance

  • An option will be disabled or not displayed if it does not apply in the current period or for the Type or for the Acquisition date at Acquisition details

  • The Super-deduction, SR allowance, FYA - Full expensing and FYA - Part expensing options will display additional boxes at Acquisition details and Disposal details. Refer to the guidance for those sections

  • See Car lease rental restriction for the CO2 thresholds that apply at the Acquisition date at Acquisition details for determining if a car is a low-emission car and for which FYA - Other should be selected. A car with CO2 emissions not exceeding the relevant CO2 threshold is a “main rate car”. A car with CO2 emissions exceeding the CO2 threshold must be Type Special rate assets pool (Other assets)
Enterprise zone claim made

This will only be displayed if FYA - ECA (within Special tax sites) is selected at Qualifies for.

Refer to the on-screen help tip for guidance.

Second-hand structure or building

This box will only appear if either Structures & buildings or Structures & buildings - Special tax sites is selected at Type.

Select if:

The asset was first brought into use by a previous owner.
Date brought into use / Date brought into use by first owner

This box will only appear if either Structures & buildings or Structures & buildings - Special tax sites is selected at Type.

This date is the start of the Allowance period and must be completed in order for writing down allowances to be given and calculated.

The date cannot be before 29 October 2018 if Structures & building is selected at Type.

The date cannot be before the designation date of the Special tax site selected at Special tax site location, the earliest of which is 19 November 2021, and can be no later than 30 September 2026 for any Special tax site selected.

If Second-hand structure or building is deselected, the Date brought into use must be on or after Acquisition date at Acquisition details. If Second-hand structure or building is selected, the Date brought into use by first owner must be completed and be before Acquisition date at Acquisition details.
Allowance period ends

This box will only appear if either Structures & buildings or Structures & buildings - Special tax sites is selected at Type and a date is entered in Date brought into use / Date brought into use by first owner.

The allowance period begins on the date in Date brought into use / Date brought into use by first owner and ends:

  • 33 1/3 years later where Structures & buildings is selected at Type, or
  • 10 years later where Structures & buildings - Special tax sites is selected at Type. This box will only appear if Structures & buildings allowances is selected at Type.
Original qualifying expenditure of first owner

This box will only appear if either Structures & buildings or Structures & buildings - Special tax sites is selected at Type and Second-hand structure or building is selected.

This is the amount on which writing down allowances are calculated if Second-hand structure or building is selected. The second and subsequent owners of the asset take over the first owner’s qualifying expenditure because there is no balancing adjustment on disposal of the asset.
TWDV b/f / RQE b/f

This box will only appear if either Structures & buildings, Structures & buildings - Special tax sites, Business premises renovation or Short life asset is selected at Type.

This must be entered where the asset is added in a period after it was actually acquired or where Second-hand structure or building is selected.

TWDV b/f will be shown if:

  • Structures & buildings or Structures & buildings - Special tax sites is selected at Type and Second-hand structure or building is deselected.
  • Structures & buildings or Structures & buildings - Special tax sites is selected at Type and Second-hand structure or building is selected and Date brought into use by first owner is before the current period of account.
  • Short life asset is selected at Type.

RQE b/f will be shown if:

  • Structures & buildings or Structures & buildings - Special tax sites is selected at Type and Second-hand structure or building is selected and Acquisition date at Acquisition details is in the current period of account.
  • Business premises renovation is selected at Type.
Special tax site location

This drop-down list is only displayed if either Structures & buildings - Special tax sites is selected at Type or if FYA - ECA (within Special tax sites) is selected at Qualifies for.

Select the appropriate Special tax site. The list of Special tax sites depends on the Acquisition date at Acquisition details and, for, Structures & buildings - Special tax sites, Date brought into use / Date brought into use by first owner, as compared to the date from which the Special tax site is designated.

Note:
  • Some Special tax sites have the same first number if different tax sites within the same Freeport or Investment Zone are designated on different dates. The first number is what is required in the CT600M. After the first number in each list option will either be "F:" or "IZ:" to distinguish Special tax sites in Freeports from those in Investment Zones.

Any newly designated Special tax site not included in the list will be added to the list in the next subsequent release.

Address of business operation in Special tax site

The address boxes are only displayed if either Structures & buildings - Special tax sites is selected at Type or if FYA - ECA (within Special tax sites) is selected at Qualifies for.

Enter the relevant address details which are required for the CT600M.

Relevant asset

This box will only appear if the period of account ends after 31/03/2019.

The box will only appear if Asset qualifies for capital allowances has been deselected and Intangible fixed asset has been selected at Type.

You can only select it if Acquisition date at Acquisition details is on or after 01/04/2019.

Select if:

Your asset is a ‘relevant asset’, for example, goodwill or customer related asset and was acquired on or after 01/04/2019.
Pre-FA 2019 relevant asset

You can only select it if Relevant asset has been selected.

This box will only appear if the period of account ends after 31/03/2019.

Select if:

This is a 'pre-FA 2019 relevant asset and was acquired on or after 01/04/2019.

No business or no qualifying IP acquired

You can only select it if Relevant asset has been selected.

This box will only appear if the period of account ends after 31/03/2019.

Select if:

This asset is a relevant asset that was not acquired as part of a business acquisition or was acquired as part of a business acquisition, but that acquisition did not include any 'qualifying IP asset' and the asset was acquired on or after 01/04/2019.

Relevant asset acquired from related party

This box will only appear if Asset qualifies for capital allowances is deselected and Intangible fixed asset is selected at Type.

You can only select if Acquisition date at Acquisition details is between 3 December 2014 and 7 July 2015 inclusive or Relevant asset has been selected.

Select if:

The asset was acquired between 3 December 2014 and 7 July 2015 inclusive and acquired from a related party. This information will be used in any relevant restricted amortisation calculations at Intangible fixed assets.
Third party acquisition of relevant asset

The box will only appear if Asset qualifies for capital allowances is deselected and Intangible fixed asset is selected at Type.

You can only select it if Relevant asset acquired from related party has been selected.

Select if:

  • the company acquired the asset between 3 December 2014 and 7 July 2015
  • the company received the asset from a connected party
  • the transferor obtained the asset in a third party transaction.

This information will be used in any relevant restricted amortisation calculations at Intangible fixed assets.
Excluded relevant asset

The box will only appear if Asset qualifies for capital allowances has been deselected and Intangible fixed asset has been selected at Type. The box can only be selected if Acquisition date at Acquisition details is between 8 July 2015 and 31 March 2019.

Select if:

The asset is an Intangible fixed asset acquired on or after 8 July 2015 which is an excluded relevant asset, such as goodwill or a customer-related asset.

How do I get here?

Assets > Fixed asset > Fixed asset register