I don't think my clients previous accountant has given me everything he should of (unless I'm being an idiot).
I expected to be sent a full asset register - giving details of what the assets are, when they were bought, how much they originally cost and the depreciation and capital allowances computations, am I wrong in expecting this?
There is plant and machinery and motor vehicles account on the trial balance. I have been given a capital allowances calculation that is just a new vehicle and that annual investment allowance has been claimed for the full amount. BUT no workings for depreciation or capital allowances for the other vehicles that make up the brought forward balance of 13,000 and nothing for plant and machinery either. If it makes any difference the only capital allowances claimed for the previous tax year is the annual investment allowance (he did send me copies of the tax returns). I don't understand why no capital allowances have been claimed for these balances, they can't just stay there in the account
I have attached a copy of the trial balance and capital allowances calculation.
I do tend to struggle with this part of the accounts but there is usually sufficient workings for me to work from and I get someone to check over my workings to double check I have it right but this time I am at a total loss!
If anyone can tell me what I need to do I would be very grateful, I haven't a clue what to do from here.
The figures in the accounts will probably not be the same as the figures in the capital allowance comp.
It is more than likely that capital allowances have been claimed in full on the assets brought forward in the accounts as the TWDV b/f is £0 and the only CAs claimed is the additions in the year which agrees to the TB. Assume it is a van that was bought or a low CO2 emission car given 100% allowance was claimed.
They should been able to give you a fixed asset register detailing the assets, date of purchase, cost, depn to date and NBV per the accounts. But not all accountants keep a register so dont assume you will get one as if they cant easily produce they would need to go and create one which would take time and cost and not be likely unless your client pays for.
