NBV reconciliation
NBV reconciliation reconciles the movement in the net book value of tangible fixed assets per the accounts for the period of account, to ensure that all movements, including additions, disposals and depreciation, are correctly explained for tax purposes.
Movement in tangible fixed assets
| Net book value per accounts b/f | From the accounts, enter the net book value brought forward. In the subsequent period, this will be populated by Net book value per accounts c/f but can be edited. |
| Prior year adjustment | From the accounts, enter the aggregate of any prior year adjustments. |
| Adjusted net book value b/f | Calculated as the sum of Net book value per accounts b/f and Prior year adjustment. |
| Additions in the period |
Additions on which AIA claimed is populated from AIA claims. The following rows are created for each activity:
All of these rows, apart from the last, are populated from Fixed asset register. For Less taxable revenue grants netted off fixed assets, enter the amount of any taxable revenue grants used to wholly or partly acquire intangible fixed assets. This figure, if not nil, must be a negative. There will be two columns for Additions in the period if the period of account exceeds one year. |
| Non-qualifying additions | Enter the amount of tangible fixed assets acquired which do not qualify for capital allowances. |
| Deferred revenue expenditure | From the accounts, enter the amount of deferred revenue expenditure. |
| Less leasing restriction b/f | Enter the amount of leasing restriction brought forward. This figure, if not nil, must be negative. |
| Add leasing restriction c/f | Enter the amount or leasing restriction carried forward. This figure, if not nil, must be positive. |
| Assets acquired under finance leases | Enter the amount of any assets acquired under finance leases. |
| Less RDGs/ non-taxable grants netted off fixed assets | Enter the amount of Regional Development and other non-taxable grants which have been used to wholly or partly acquire tangible fixed assets. This figure, if not nil, must be negative. |
| Add expenditure paid from taxable capital grants | Enter the amount of taxable grants used to wholly or partly acquire tangible fixed assets. |
| Less software additions excluded from intangible fixed assets | This is populated from Fixed asset register. |
| Other | Use these rows for other adjustments required to arrive at the correct Total additions. |
| Total additions | Calculated as the aggregate of all entries within Additions in the period. |
| Disposals at net book value | Populated from Disposals reconciliation. You can click the link to go directly to that page. |
| Depreciation charge | Populated from Reconciliation of depreciation to P&L account. |
| Other | Use these rows to make other adjustments required to arrive at the correct Net book value per accounts c/f. |
| Add/less revaluation adjustments | Enter any adjustment required as a consequence of asset revaluation in the accounts. |
| Net book value per accounts c/f | Calculated as the sum of Adjusted net book value b/f, Total additions, Other and revaluation adjustments, less Disposals at net book value and Depreciation charge. It should be equal to Net book value c/f per accounts. |
| Net book value c/f per accounts | From the accounts, enter the net book value carried forward. This figure is required in order to ensure that NBV reconciliation is reconciling the correct amount. |
Reconciliation of depreciation to P&L account
Use Add/Edit to select the figures in Profit & loss which relate to depreciation of tangible fixed assets.
Analysis by trade
Analyses the figures at Reconciliation of depreciation to P&L account by trade.
How do I get here?
Assets> Fixed assets> NBV reconciliation
