Intangible fixed assets
Intangible fixed assets are intangible assets which are used on a continuing basis for the company's activities and include goodwill, patents, trade marks, registered designs, copyrights and any information or technique having commercial, industrial or economic value.
This page lists all assets included in Fixed asset register where Type is Intangible. Once an asset is disposed of, it will not appear on this page in periods starting after the disposal date.
You cannot add assets on Intangible fixed assets. All intangible fixed assets should be included on Fixed asset register.
To enter details of a particular asset, highlight the relevant row on the asset list and select Edit.
This will open Intangible fixed assets, which has two tabs: Details and Summary.
Details
The content of the Details tab is dependant upon the date of acquisition of the asset, as shown in the Fixed asset register.
Asset details
The asset reference and description are as entered in Fixed asset register. To review the information entered on Fixed asset register,click the reference entry.
Accounts and tax details
Use Accounts and tax details to enter additional information about the asset.
| Business activity | From the drop-down menu, select the business activity in which the asset is used. If the relevant business activity does not appear in the menu, then add it at Business activities. |
| Amortisation per accounts | Enter the amortisation for this asset from the accounts. |
| Write down/ impairment per accounts | Enter the write down or impairment for this asset from the accounts. |
| Revaluation per accounts | Enter the revaluation for this asset from the accounts. |
| Type | Select Non-trading or the activity in which the asset is used. |
| Trade | If you have selected Trading at Type, then, from the drop-down menu, select the trade in which the asset is used. |
| Reinvestment relief | Enter the rolled-over gain from any other asset whose proceeds have been reinvested in this asset. The gain will reduce the base cost of this asset. |
| Gain/ (loss) for tax per summary tab | Calculated from Summary, if the asset was disposed of in the period. |
| Gain reinvested | Enter the amount of any gain shown at Gain/ (loss) for tax per summary which has been rolled-over against the cost of another asset. |
| Amortise at fixed rate for tax | Select if this asset is amortised at a fixed rate for tax. You will only be able to select this box if there is a figure greater than zero at Amortisation per accounts. |
| NBV per accounts b/f | Enter the net book value brought forward for this asset included in the accounts. This will be completed from the previous period, if the asset was held then, but you will be able to edit the brought forward figure. |
| Tax cost b/f | Enter the tax cost brought forward for this asset. This will be completed from the previous period, if the asset was held then, but you will be able to edit the brought forward figure. |
| TaxWDV b/f | Enter the tax written down value brought forward for this asset. This will be completed from the previous period, if the asset was held then, but you will be able to edit the brought forward figure. |
Asset details
The asset reference and description are as entered in Fixed asset register. To review the information entered on there, click reference.
If you have selected both Relevant asset acquired from related party and Third party acquisition of relevant asset at Fixed asset register, then enter the relevant amounts at Notional accounting value of relevant asset and Expenditure incurred on relevant asset. These amounts are used to calculate the restricted amortisation figure for the asset.
Note: Notional accounting value of relevant asset and Expenditure incurred on relevant asset only appear if you have selected both Relevant asset acquired from related party and Third party acquisition of relevant asset.
Accounts and tax details
| Business activity | From the drop-down menu, select the business activity in which the asset is used. |
| Amortisation per accounts | Enter from the accounts the figure of amortisation for this asset. |
| Restricted amortisation |
Calculated as Amortisation per accounts, multiplied by the lower of:
|
| Write down/ impairment per accounts | Enter from the accounts the figure of write down or impairment for this asset. |
| Restricted debit |
Calculated as Write down/ impairment per accounts, multiplied by the lower of:
|
| Revaluation per accounts |
Enter from the accounts the revaluation figure for this asset. |
| Type | Select the type which best describes the activity in which the asset is used. |
| Trade | If you have selected Trading at Type, then, from the drop-down menu, select the trade in which the asset is used. |
| Reinvestment relief | Enter the rolled-over gain from any other asset whose proceeds have been reinvested in this asset. The gain will reduce the base cost of this asset. |
| Gain/ (loss) for tax per summary tab | Calculated as Disposal proceeds less Calculated as Disposal proceeds less Net cost as entered on Fixed asset register. |
| Restricted debit |
Calculated as loss shown at Gain/ (loss) for tax per summary tab, multiplied by the lower of:
|
| Non-trading debit | Calculated as the difference between the loss shown at Gain/ (loss) for tax per summary tab and Restricted debit |
| Gain reinvested | Enter the amount of any gain shown at Gain/ (loss) for tax per summary which has been rolled-over against the cost of another asset. |
| Amortise at fixed rate for tax | Select if this asset is amortised at a fixed rate for tax. You will only be able to select this box if there is a figure greater than zero at Amortisation per accounts. |
| NBV per accounts b/f | Enter the Net Book Value brought forward for this asset in the accounts. |
| Tax cost b/f | Enter the tax cost brought forward for this asset. |
| Tax WDV b/f | Enter the tax written down value brought forward for this asset. |
Asset details
The asset reference and description are as entered in Fixed asset register. To review the information entered on there, click reference.
Accounts and tax details
| Business activity | From the drop-down menu, select the business activity in which the asset is used. |
| Amortisation per accounts | Enter from the accounts the figure of amortisation for this asset. |
| Write down/ impairment per accounts | Enter from the accounts the figure of write down or impairment for this asset. |
| Revaluation per accounts | Enter from the accounts the revaluation figure for this asset. |
| Type | Select the type which best describes the activity in which the asset is used. |
| Trade | If you have selected Trading at Type, then, from the drop-down menu, select the trade in which the asset is used. |
| Reinvestment relief | Enter the rolled-over gain from any other asset whose proceeds have been reinvested in this asset. The gain will reduce the base cost of this asset. |
| Gain/ (loss) for tax per summary tab | Calculated as Disposal proceeds less Net cost as entered on Fixed asset register. |
| Non-trading debit | If Excluded relevant asset has been selected at Fixed asset register, then amount is equal to Gain/ (loss) for tax per summary tab. |
| Gain reinvested | Enter the amount of any gain shown at Gain/ (loss) for tax per summary which has been rolled-over to another asset. |
| Amortise at fixed rate for tax | Select if this asset is amortised at a fixed rate for tax. You will only be able to select this box if there is a figure greater than zero at Amortisation per accounts. |
| NBV per accounts b/f | Enter the Net Book Value brought forward for this asset in the accounts. |
| Tax cost b/f | Enter the tax cost brought forward for this asset. |
| Tax WDV b/f | Enter the tax written down value brought forward for this asset. |
Asset details
The asset reference and description are as entered in Fixed asset register. To review the information entered on there, click reference.
Accounts and tax details
| Business activity | From the drop-down menu, select the business activity in which the asset is used. |
| Amortisation per accounts | Enter from the accounts the figure of amortisation for this asset. |
| Write down/ impairment per accounts | Enter from the accounts the figure of write down or impairment for this asset. |
| Revaluation per accounts | Enter from the accounts the revaluation figure for this asset. |
| Type | Select the type which best describes the activity in which the asset is used. |
| Trade | If you have selected Trading at Type, then, from the drop-down menu, select the trade in which the asset is used. |
| Reinvestment relief | Enter the rolled-over gain from any other asset whose proceeds have been reinvested in this asset. The gain will reduce the base cost of this asset. |
| Gain/ (loss) for tax per summary tab | Calculated as Disposal proceeds less Net cost as entered on Fixed asset register. |
| Restricted debit |
Calculated as loss shown at Gain/ (loss) for tax per summary tab, multiplied by the lower of:
|
| Non-trading debit | If Excluded relevant asset has been selected at Fixed asset register, then amount is equal to Gain/ (loss) for tax per summary tab. |
| Gain reinvested | Enter the amount of any gain shown at Gain/ (loss) for tax per summary which has been rolled-over to another asset. |
| Amortise at fixed rate for tax | Select if this asset is amortised at a fixed rate for tax. You will only be able to select this box if there is a figure greater than zero at Amortisation per accounts. |
| NBV per accounts b/f | Enter the Net Book Value brought forward for this asset in the accounts. |
| Tax cost b/f | Enter the tax cost brought forward for this asset. |
| TaxWD b/f | Enter the tax written down value brought forward for this asset. |
Summary
The Summary tab provides an analysis of the information entered on the Details tab
How do I get here?
Assets > Intangible fixed assets > Assets
