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Miscellaneous income and gains |
See Also
Adjustment of profit | Expense analysis | Expenses of management | Intangible Fixed Assets | Losses and allowances | Patent income spreading | Transfer pricing
Select from the following headings:
Background | Developing the schedule | Completing the Schedule | Standard Sub-Schedules | Carry Forward | Related Errors
This screen allows the user to analyse sources of miscellaneous income and gains; this will cover any income or gains not otherwise charged to corporation tax.
This schedule is developed from the A schedule. Alternatively it will be developed automatically when the menu option Develop > Link > Miscellaneous income / expense is selected to support a row on an Expense analysis schedule. These amounts are then shown in the Reconciliation part of the schedule.
Additional rows can be inserted if required to analyse out the income incurred for the period.
The following rows will be inserted automatically: -
Losses
Any miscellaneous loss is offset against other miscellaneous income.
Any losses brought forward should be entered in the Losses section at the foot of the schedule. Where these have not been fully utilised, any excess will be carried forward to be set against miscellaneous income of subsequent periods.
Any amounts that can be offset against Trading losses should be entered in the rows in the section Post cessation receipts and other amounts relievable by Trading losses b/f. These are then automatically set off against any available miscellaneous losses.
The schedule has one standard sub-schedule, the Patent income spreading schedule, in which the user can spread the proceeds of patent disposals under CTA 2009, s914.
On carry forward, this schedule is automatically developed in the subsequent computation if it is present in the prior year computation. In the subsequent computation, the miscellaneous income balance and losses brought forward are completed automatically.
None.
© 2009 Thomson Reuters.