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REIT tax exempt property business |
See Also
Allowances - Plant | Expensive cars | General allowances | IBA site | Profit and loss account / Income statement (D schedule) | REIT capital gains summary | REIT computation of profits - tax exempt business | REIT summary information | Short life assets
Select from the following headings:
Background | Developing the schedule | Completing the Schedule | Standard Sub-Schedules | Carry Forward | Related Errors
This schedule is a master schedule and automatically present when a REIT computation is created, and allows the user to analyse the tax exempt property income.
Adjustments for items such as depreciation or disallowable expenditure linked or made from analysis schedules will feed through to the Adjustment of rental profits section of the schedule.In REIT Investment or REIT Trading files, this schedule is developed when the
computation is created.
This schedule can also be developed from standard CT
Investment and Trading computations. From the A schedule Develop > Other >
REIT information.
This schedule is part of a group of schedules
relating to tax exempt property businesses.
Adjustments for income and expenses linked from the Profit and loss account or analysis schedule will feed through to the Reconciliation to P/L account section of the schedule. The Rental income per accounts figure is calculated from this.
Adjustments for profit and loss and balance sheet items are likewise linked from the Profit and loss account or analysis schedule, and capital allowance schedules can be developed from this schedule.
Additional rows can be inserted if required to manually analyse income and expenditure items for the period.
The ?Total Schedule A income? from the tax exempt business is fed through automatically to schedule Computation of profits ? tax exempt business.A range of capital allowance schedules, for example the Plant pool, Expensive cars, IBA?s, Short life asset and General allowances may be developed from this schedule.
Manually entered captions are carried forward, but no other values are carried forward to the next period.
None.
© 2009 Thomson Reuters.