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Projected multiple gains |
See Also
Adjustment of profit | Payments on account | Projected enhancement expenditure
Select from the following headings:
Background | Developing the schedule | Completing the Schedule | Standard Sub-Schedules | Carry Forward | Related Errors
This schedule provides an estimated chargeable gains calculation for the projected period.
This schedule is developed from the Payments on account schedule.
The schedule is completed similarly to the chargeable gains calculations in the E schedules, the difference being that an estimate of the RPI for the projected date of disposal is required so that the indexation allowance may be calculated. The software then calculates the projected capital gain for the period and the gain is transferred to the S schedule.
Additional rows can be inserted on the schedule to allow a number of different gains or losses to be estimated.
Estimates
An option is available as to the estimate to which the gain is applicable. Alternatively, the gain can be applied to all four estimates by applying the All estimates option. The gains derived will then populate the Gains row of the S schedule.
This schedule has one standard sub-schedule, the Projected enhancement expenditure schedule.
This schedule does not carry forward.
Error | How to
solve it |
| Proceeds reinvested cannot exceed total proceeds | Proceeds from the sale of an asset that are reinvested in a new asset qualify for rollover relief and defer the chargeable gain on the asset. The figure that is reinvested cannot exceed the proceeds from the sale of the asset. |
| Can only rollover gains remove reinvestment figure | The gain on the sale of an asset may be reinvested in the cost of the new asset, thus deferring the gain. Any reinvestment made must be entered as a positive number. |
| Enter reinvestment as a positive number on this schedule | The gain on the sale of an asset may be reinvested in the cost of the new asset, thus deferring the gain. Any reinvestment made must be entered as a positive number. |
© 2009 Thomson Reuters.