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Step-by-step Guide

CT600: How do I enter a balancing charge/allowance on disposal of a capital allowance asset.

Article ID: 1295
Last updated: 14 Feb, 2023

The balancing charge is worked out automatically based on your entries. Please refer to the below on how to dispose of an asset. Please note the below behaviour is available from version 12.0.007 and you should update your copy of TaxCalc as required.

If you have disposed of an Single Asset please follow the below instructions. If you have disposed on an Multiple Asset please click here to see the relevant section below.

Single Asset Disposal

  1. Browse to the Capital Allowance wizard in your applicable return

  1. Edit an existing asset or if you have previously written off the asset or claimed AIA to clear the asset value down to 0, you would need to add a new asset as below:
    1. Choose the type of asset (whichever pool the asset was initially entered in).
    2. Enter the date of acquisition or any date in a prior accounting period.

  1. Click on click here under 'To enter a disposal value for this asset please' to input the details relating to the disposal
  2. Click Add

  1. Select the applicable asset which should now appear in the list
  2. Tick the box for Part Disposal (if applicable)
  3. Enter the Pool Disposal Proceeds

  1. Click Close (to close from the disposal window)
  2. Click Close (to close from the asset window)
  3. Click Next Step to go to the calculation grid where the details should now automatically be populated

Multiple Asset Disposal

  1. Browse to the Capital Allowance wizard in your applicable return

  1. Ensure all your assets are listed under Existing Assets. If not, then you will need to add in a new asset. To do this please click on add and enter your asset details in as below.

  1. Click on Close
  2. Under Disposal of pooled assets click on click here.

  1. Select the type of pool and click on open:

  1. Click on click here under 'To enter a disposal value for this asset please' to input the details relating to the disposal
  2. Click Add

  1. Select the applicable asset which should now appear in the list
  2. Tick the box for Part Disposal (if applicable)
  3. Enter the Pool Disposal Proceeds

  1. Click on Close
  2. Click Next Step to go to the calculation grid where the details should now automatically be populated

Article ID: 1295
Last updated: 14 Feb, 2023
Revision: 14
Views: 6390
This article was:  


Also listed in
folder Tax Return Production -> CT600 Corporation Tax Return