Editing a disposal

Chargeable disposal

  • Description of asset’ Enter a brief description of the asset being disposed.
  • Date of disposal’ Enter the date of disposal, which should be within the current accounting period.
  • Proceeds‘ Enter the sale proceeds. If the sale is to a connected person you may need to enter the market value.
  • Part disposal‘ Tick the box if the disposal is a part disposal.

Less: Costs of disposal

In this grid you should enter any associated allowable disposal costs.

  • ‘Description‘ Enter a brief description of the cost.
  • Amount’ Enter the allowable cost.

Less: Costs of acquisition

  • Date of original acquisition’ Enter the date that the asset was originally acquired. For acquisitions prior to 31 March 1982 you may, if you wish, enter the acquisition date as 31 March 1982. Indexation will be calculated from the date entered or 31 March 1982, whichever is later.
  • Original cost (or market value)’ Enter the original cost (or market value).
  • Is market value being used?‘ Tick the box if the market value is being used. This does not affect the calculation but does allow the computation to show that the market value is being used. If you have entered an acquisition date prior to 31 March 1982 then the report will assume that the 31 March 1982 market value is being used.

In the grid you may enter any further incidental costs of acquisition.

  • Description of incidental cost‘ Enter a brief description of the cost.
  • Amount’ Enter the allowable amount.

Less: enhancement expenditure

This grid is for input of any enhancement expenditure that has arisen.

  • Description’ Enter a brief description of the enhancement expenditure.
  • Date of expenditure‘ Enter the date that the enhancement expenditure arose. Indexation for this item of expenditure will be calculated from this date.
  • Amount‘ Enter the amount of the enhancement expenditure.

To delete a line from the grid, click the ‘trash can’  button at the end of the line.

Gain

  • Unindexed gain‘ This field will show the calculated unindexed gain.
  • Less: indexation allowance‘ This field will the indexation allowance calculated for the gain. The overall computation will show a breakdown of how this allowance is calculated.
  • Net gain/(loss)‘ This field will show the net gain (or loss) after indexation allowance. Note that indexation cannot create or increase a loss.

Reliefs

  • Rollover relief‘ Enter any rollover relief claimed on this disposal.
  • Any other relief claimed‘ Enter any other relief claim that is being made on this disposal.
  • Chargeable gain/(loss) on this disposal’ This field will show the chargeable gain (or loss) on the disposal

Using income losses against capital gains

Firstly, please ensure that you are making the best use of the losses before proceeding. Select the Capital gains tab from the data input screen Click on the Disposals tab, and enter the relevant information Click on the Capital Losses tab, and enter the amount of loss that you wish to set off against the […]

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Restricting access to clients

This feature is only available for multiuser accounts, it has been designed so that you can restrict user access for certain clients if required. Users with “edit client access” rights AND who have access to a client can assign or remove access rights via the Access tab on the client screen. The default is that […]

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User restrictions within Taxfiler

This function is only available for a multiuser license. Some functions within Taxfiler can be restricted from a user. From the SETTINGS icon select Users and select the user that you wish to edit Select Restrictions tab You will be presented with several functions which can be selected or removed via a tick box. For […]

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