Collect ownership and acquisition records, a justified valuation basis, transfer evidence and records connecting the machinery to the business. Shipping and installation documents can help establish where the assets are and how they will operate.
Make the asset schedule auditable
Include identifying details and explain condition or depreciation where relevant rather than assuming original cost equals the amount properly claimed. Link equipment to premises, production or customer plans. If other parties own or finance it, include those arrangements.
Do not count both the asset’s value and the payment used to buy that same asset as separate contributions. Build the asset schedule one column at a time rather than one item at a time, which is what keeps it auditable. Complete the identification column for every asset first, with description, identifying detail and location.
Then complete the ownership column, attaching the acquisition record for each line. Then the valuation column, with the basis stated once at the head of the schedule and applied uniformly. Then transfer and installation.
Working item by item tends to produce a schedule where the basis drifts between lines, and drift of that kind is what a reviewer notices first. Where another party owns or finances an item, record that in the ownership column rather than omitting the line, because an absent asset visibly in use raises a question the file should have answered. Do not record both an asset value and the payment used to acquire it as separate contributions.