The Brasstax Asset Module provides a full range of reports and functionality including Captial Allowance calculations. Below is the features that provided:
- Full support for unqualified assets which can be defined at the group, asset or capital allowance levels.
- Asset Reconcilation caters for both qualified and unqualified asset. It also provide for support assets where the tax treatment differs from the treatment in the P&L.
- Support for both Operational and Finance Leasing.
- Cross year of analysis for capital allowance claim.
- Visual indicators highlight the need for revision of capital allowance calculations and can be used as "to-do" lists to quickly acessed directly from the Form C.
- Asset can be fully or partially disposed.
- Asset can be fully or partially written off.
- Asset can be internaly transfered as part of Control Sales/Purchase.
- Reinvestment Allowance calculation.
- Common Asset calculation.
The Capital Allowance calculation support full range of cases including:
- Asset with restriction
- Clawback
- Own use
- Notional Allowance/Annual Allowance
- Finance Leasing
- Operational Leasing
- Accumulated Hire Purchase
- Year to Year Hire Purchase
- Accelerated Rate
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