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Hi Robert, being upfront this isn't something we have any intentions of changing in the near term. We will continue to track interest in your idea here for the time being but would be quite a fundamental change to the way tax works in Xero.
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Robert Smith
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An error occurred while saving the comment Robert Smith
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Just to further add to this request, to remove the requirement to hold additional schedules tracking Write Down Value b/f for Personal Tax clients this could easily be implemented into the Personal Tax form, similar to other tax software. It would give the option to record the details of the asset e.g. make and model of vehicle, vehicle registration, write down allowance, write down value b/f, and work out the capital allowance based on the pool type, it would also allow the % of personal use to be charged back to ensure to claim is compliant, This would ensure the these details are available on the following periods form in Personal Tax. I have attached an example of a supplementary page that would be produced.
Many thanks for your response.
I appreciate there may not be any immediate plans but is invaluable to an accountant to be able to effectively reconcile the VAT account when the entity is operating the cash VAT scheme, to be able to split out realised and unrealised VAT.