Alphacap for Fixed Asset Management

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The management and tax analysis required to be performed by companies with significant fixed asset portfolios has historically been a manual and immensely time consuming process. In particular in the current compliance climate, the need for record keeping and audit trails to source expenditure data has been of considerable concern for Tax managers and auditors.

Alphacap has been developed as a comprehensive and powerful tool to simplify the capture and management of such data from a corporate tax perspective.

It allows asset information to be collected, stored and then analysed by the tax professional according to its tax treatment, with a full reconciliation to the source data.

Key features of the software include:

  • Robust, scaleable database technology which allows for,
    • Flexible views and reports on all aspects of asset information
    • Document management facility to allow key external data to be embedded within the database
  • Automated data import and mapping tools
  • Automated tax analysis using a rules based approach
  • A ‘Projects’ function to handle the tracking of major construction projects over multiple years. This includes the ability to re-assess the tax make-up of a Project and calculate any adjustments required to the computation each year.
  • Tracking of the entire lifecycle of an asset from acquisition to full disposal with all key tax attributes stored
  • Valuation tracking and instant notional gain calculations
  • Rollover and Holdover relief – ability to identify qualifying expenditure across the entire capital gains group
  • Asset transfers under s171 TCGA 1992
  • Tracking of expenditure deferred for capital allowances

Seamless integration with Alphatax

In isolation, Alphacap is a powerful and comprehensive tool. But right from the start it has been designed to work seamlessly with Alphatax to offer Alphacap users an unprecedented combination of capital assets management and tax computational integration. Information relevant to the calculations and disclosure in the tax computations can be passed into Alphatax in a controlled and summarized manner. This includes:

  • The creation of a fixed asset summary and sub analyses of additions, disposals and transfers.
  • Completion of capital allowance claims
  • Creation of capital disposal and capital gains calculations

The way forward

For more information or to book a presentation, please contact us and ask to speak to a member of our new business team.