Is it possible to write off the balance on a small pool?
Article ID
ias-8854
Article Name
Is it possible to write off the balance on a small pool?
Created Date
18th May 2010
Product
IRIS Business Tax
Problem
Is it possible to write off the balance on a small pool?
Resolution
Users are required to:
1. Log into Business Tax and select the client.
2. From the Edit | Capital Allowances.
3. Click on option E – Maintain Pool.
4. Tick the box ‘Write off small pool’
If this tick box is not available this could be due to the following:
The small pool can only be written off if the period COMMENCES on or after the 1st April 2008 for Companies or 6 April 2008 for trades as per S81(5) Finance Act 2008.
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