Click on the ‘Edit‘ button from the Adjustments to trade profit tab, a new window will open which needs to be completed. Use this grid to calculate the portion of expenditure on leased high emission cars that is disallowed and must be added back to the tax computation. A high emission car is one with CO2 emissions of more than 160g/km.
- ‘Description‘ Enter a description of the car.
- ‘Per accounts’ Enter the expenditure included in the accounts for this vehicle.
- ‘Allowable‘ The allowable expenditure will be shown in this column. 85% of the cost is allowable for tax purposes.
- ‘Disallowable‘ The disallowable expenditure will be shown in this column. 15% of the cost is disallowable for tax purposes.
To delete a line from the grid, click the ‘trash can‘ button at the end of the line.
Click ‘Save changes‘ to update the figures to the adjustments to trade profit tab.