Plant and Machinery – Freeport FYA Assets 

This section allows input and calculation of First Year Allowances on Plant and Machinery expenditure within a Freeport tax site. 

Click the following links for help on:  


Asset movements  

Super deduction assets 

The tab shows a grid where a list of the assets created is displayed showing 

  • Description – a description for the asset 
  • Location – the location of the Freeport where the expenditure on Plant and machinery was incurred.  
  • Date purchased – date the expenditure was incurred. 
  • Date sold – the date the plant and machinery was sold.  

New asset creation 

Select the New asset button to create a new asset for a given Freeport location. 

Some of the data entry fields in this screen have a red asterisk alongside them which indicates that this information is required, and the data cannot be saved until they are completed. 

  • Description – enter a description for the asset. 
  • Location of Freeport – select the Freeport location from the drop-down selection list 
  • Address of business operations – Ensure at least the first two lines of the address are completed. 
  • Enterprise Zone claim already made? – tick this box if an Enterprise Zone claim has already been made in respect of this expenditure.  
  • Date purchased – enter the date of purchase. This cannot be before 1/11/2021. 
  • Cost – cost of the expenditure 
  • 100% FYA claimed – Taxfiler will automatically calculate the allowances based upon the cost.   
  • Date sold – enter the date sold.  
  • Disposal value enter the amount of the disposal value or proceeds. This value will be transferred to the Disposal proceeds on the Calculation tab.