Corporation Tax Support

Error: Total additions or disposals do not reconcile elements in Corporation Tax

Scenario

You may get the following messages when you import data from Accounts Production to Corporation Tax.
Error message
Total additions does not reconcile broken down elements.
Total disposals does not reconcile broken down elements.

Cause

The cause is that
Accounts Production
 does not have a way to show that an asset qualifies for capital allowances. The import process will bring across the totals of fixed asset additions and the net book value of disposals from
Accounts Production
, but it will not also create entries in capital allowances or a breakdown of either the additions or disposals in Corporation Tax.

Solution for additions

Enter additions for assets that qualify for capital allowances manually in the appropriate pool. These additions will be shown in the Qualifying additions row of your
Fixed Asset Reconciliation for the Chargeable Period summary
.
If you have additions in the year which do not qualify for capital allowances:
  1. In the
    Fixed Asset Reconciliation for Chargeable Period
     dialog, select
    Details
    .
  2. Select the
    Non Qualifying Additions
     tab and enter the details.
These amounts will then be shown in the summary schedule.

Solution for disposals

Where an asset that qualifies for capital allowances has been sold, you will need to take the following steps.
  1. Enter the disposal proceeds in the relevant pool in the Capital Allowance schedules.
  2. In the
    Fixed Asset Reconciliation for Chargeable Period
     dialog, select
    Details
    .
  3. Select the
    Qualifying Disposals
     tab.
  4. Complete the
    Cost
     and
    Depreciation
     columns.
  5. Confirm that the proceeds entered via Capital Allowances schedules were the total proceeds received. Proceeds entered in Capital Allowances must be restricted to original cost and in some unusual circumstances the actual proceeds received may exceed this.
When an asset that does not qualify for capital allowances has been sold take the following steps.
  1. In the
    Fixed Asset Reconciliation for Chargeable Period
     dialog, select
    Details
    .
  2. Complete the
    Non Qualifying Additions
     tab.

This article applies to:

  • Product: Digita Corporation Tax
  • Subject: Documents