Capital Allowances v depreciation

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
I did Unit 19-PTC as my exams option, but am trying to get to grips with Unit 18-BTC by studying at home using the Kaplan study text/workbook. Anyway, what I really want to know is if I'm right in assuming that two sets of accounts will be needed for the fixed assets register for companies i.e. one to record the depreciation and NBV for accounting purposes, and another for recording the capital allowances and WDV for corporation tax purposes?

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Capital Allowances v depreciation

    You tend to just do a capital allowances computation that you present with the corporation tax calculation.

    Essentially though it is 2 calculations although a fixed asset register usually lists individual assets whereas a capital allowances computation pools assets.

    Annette

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