Personal Tax (UK) | Add ability to track capital allowances
In personal tax there appears to be no provision to enter capital allowance for self employment in the form of a schedule which personal tax can keep year to year. This would help when writing down existing assets as well as adding and claiming for new assets differentiating the assets between main pool/special rate pool and assets with a personal use element to enter the percentage to apply.
RAJ SAIGAL
shared this idea
Hi everyone, Xero is committed to supporting the tracking of capital allowances claimed on capital expenditure. We understand how this will save with partners and remove manual tracking of written down allowances. At the moment we don't have confirmed date when this will be picked up, but as soon as we do we will let you know here.
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Dan Horoba
commented
Tracking capital allowances is a fundamental feature of any tax software so hope to see this implemented soon.
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James Shepherd
commented
This is absolutely essential for any tax program worth its salt. Was incredibly surprised to find that it wasn't there when we made the switch from Iris. Needs to be implemented ASAP.
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Libby Berg
commented
This is a basic function and should be delivered asap. Without it likely to result in errors in returns
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Jayne Lander
commented
Would be a really big time saver
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Cheryl Smith
commented
would be a big time saver and should be a basic tool available to use
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Kim Hume
commented
I agree with this, it would be a huge time saver and something our current software does really well (BTC)
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Jag Boparai FFA FIPA
commented
Raj, thanks for highlighting this fundamental omission