1142 - Item of expenditure

Enter a brief description of the expenditure. This description will be used to identify the expenditure and associated indexation allowance in the summary table.

Please note: if you held the asset at 31 March 1982, indexation allowance is calculated on the higher of the acquisition cost and 31 March 1982 value - unless you have made a rebasing election when it is based on the 31 March 1982 value (see Help Sheet 280). Indexation allowance is then calculated on any subsequent items of improvement expenditure.