Enter brought forward figures in FreeAgent

This article explains how to put your company's brought forward tax losses and the tax written down value of its asset pool into FreeAgent.

Where do I start?

Select 'Settings' from the drop-down menu in the top-right corner and then select 'Initial Tax Data'.

If you can't see this option, you don't have access to it, and you'll need to ask your accountant, or whoever set you up on FreeAgent, to give you full user permission.

On the Initial Tax Data screen, you can put in the brought forward losses and the figure for the asset pool. This should only be used to record assets that qualify for the Writing Down Allowance of 18%, so please don't include any assets in a special rate pool. If you're not sure what these should be, talk to your accountant.

When entering the initial ‘Asset Pool Value’, the Writing Down Allowance is claimed at 18%. However, if the balance is less than £1000, this is instead claimed through the Small Pool Allowance and the entire value is claimed in the first return in FreeAgent.

Should there be a sign in front of the figures?

Put both figures in as pluses, i.e. no minus sign in the front, like this.

Once you've put the figures in, select 'Save Changes' to keep them, or 'Cancel' to exit without saving.