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
Include:
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
Exclude:
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
Include:
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
Exclude:
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
Exclude:
- interest and instalment payments under finance leasing arrangements
Expenditure
Include:
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
Exclude:
deductible VAT
capital expenditure on assets for use outside the UK (except ships and aircraft)
Revaluations of assets
Exclude:
allowances for depreciation
amortisation
impairment charges
Receipts
Include:
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
Exclude:
- the proceeds from an insurance claim against the loss of fixed assets
Additions and work in progress
Include:
- progress payment or deposits covering long-term contracts acquiring fixed assets
Work carried out by staff
Include:
- 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
Include:
- professional charges, installation costs and other services associated with capital assets, which must be reported with the asset value