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Charges - single |
See Also
Adjustment of profit | Charges - multiple | Expense analysis | Profit and loss account / Income statement (D schedule) | UK property business analysis | UK property income
Select from the following headings:
Background | Developing the schedule | Completing the Schedule | Standard Sub-Schedules | Carry Forward | Related Errors
This schedule can be developed from the D schedule, expense and income analysis or a UK property business analysis using the Develop menu and Charges.
This schedule can be developed from the D schedule using the Develop menu and Charges.
The schedule follows the standard debit/credit convention.
Some of the cells are described in more detail below:
Payable, beginning of period
The schedule requires the user to enter the opening accrual. This cell will be automatically completed from the carried forward figure when a new period is built.
(Debit)/Credit to profit and loss account
The cell is completed from the data entry on the parent schedule from which this schedule was developed.
Paid during the period
There are separate rows for trade and non-trade charges paid, which should be completed according to the nature of the charge.
The amount charged and the amount paid will automatically be taken to the A Schedule as a disallowable expense and as a charge on income respectively.
Property Companies
Where the schedule was developed from a UK property business analysis schedule any adjustments will be made on the Schedule A income/(losses) schedule rather than on the A Schedule, while the charge will still flow through onto the A schedule.
Other
The Other caption for other adjustments is available to the user. The user is responsible for ensuring that the correct tax adjustments are made if this column is used.
Income tax deducted
The user should also enter any income tax withheld from charges on income at the foot of the schedule. This amount should be entered without brackets.
Investment companies
The investment company version is substantially identical to the trading company schedule.
Long periods of account
Two sets of payment rows are provided for long periods of account, one relating to each accounting period. Additionally there are entry cells in which the income tax deducted in respect of each accounting period can be entered.
The schedule has no standard sub-schedules.
On carry forward, the balance payable at the period end will be carried forward into the next period.
© 2009 Thomson Reuters.