Note: information requested may not always be found on a register of capital assets and should include all assets of any value, even if this is below your asset register threshold.

Capital assets


  • assets within the UK

  • assets that are used repeatedly to facilitate production, or provision of services, for more than one year

  • the purchase costs and disposal proceeds of fixed assets, together with any other amounts treated as capital items for taxation purposes

  • the total capital value of assets that have been bought on hire purchase in the period covered by the survey


  • assets outside the UK

  • assets acquired in taking over an existing business or sold as part of a going concern

  • assets of a capital nature acquired for re-sale rather than for use within the business such as stocks of vehicles held by motor traders

  • assets like TV adverts or copyrights

  • software licences of up to a year

Assets transfers and leasing


  • assets acquired under finance lease where you (the lessee) are responsible for repairs and maintenance

  • assets owned by the business but leased to another business under an operating lease meaning where you (lessor) are responsible for repairs and maintenance

  • any trade or transfer costs invoiced to you separately


  • assets leased to another business under finance leases meaning where repair and maintenance are carried out by the other business (lessee)

  • assets acquired under an operating lease where responsibility for repair and maintenance are borne by the owner (lessor) of the asset

  • asset transfers between businesses owned by the same enterprise (except where the asset value is considered to be a “new” acquisition or disposal within the company accounts)

Interest and instalment payments on financial leasing


  • interest and instalment payments under finance leasing arrangements



  • non-deductible VAT

  • expenditure on replacing assets destroyed in circumstances (for example, fire), which have given rise to a successful insurance claim

  • expenditure on assets acquired for hiring, renting and other leasing purposes, but not finance leasing

  • capital expenditure at any site belonging to the business where operations have not yet begun


  • deductible VAT

  • capital expenditure on assets for use outside the UK (except ships and aircraft)

Revaluations of assets


  • allowances for depreciation

  • amortisation

  • impairment charges



  • grants and allowances from government sources, statutory bodies or local authorities that have been used to acquire or create assets used in production

  • finance relating to public private partnership or private finance initiative that has been used to acquire assets


  • the proceeds from an insurance claim against the loss of fixed assets

Additions and work in progress


  • progress payment or deposits covering long-term contracts acquiring fixed assets

Work carried out by staff


  • all work of a capital nature carried out by your own staff, including labour costs and the cost of purchases and overheads consumed in the work

Services associated with capital assets


  • professional charges, installation costs and other services associated with capital assets, which must be reported with the asset value