Accounting depreciation and tax capital allowances – side by side
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Every business that buys equipment, vehicles, fixtures or property needs two sets of numbers for it. The accounts need depreciation – the cost spread over the asset's useful life – and a fixed assets note. The tax return ignores depreciation and gives capital allowances instead, under HMRC's own rules. This workbook does both from one register. You record each asset once; it works out the depreciation charge for the year, profit or loss on anything sold, a ready-made accounts note by category, and a full capital allowances computation including the Annual Investment Allowance, full expensing, first-year allowances, the main and special rate pools and balancing adjustments.
See how it works
The sheets you will use most, in the order you will use them – shown with the sample data every workbook comes with.
Step 1
The list of assets with all inputs and a Check column. What you do: add and update assets in the yellow columns.
Step 2
Cost, depreciation and NBV for each asset for the year, plus disposals. What you do: nothing to enter – filter it to review.
Step 3
The tangible fixed assets note and accounting policy. What you do: copy into your accounts.
Step 4
The tax computation for the chargeable period. What you do: enter the pool balances brought forward.
Who it is for
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