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UK property business analysis |
See Also
Capital assets expensed | Disposals | Expense analysis | Fixed assets | Loan relationships | UK property income
Select from the following headings:
Background | Developing the schedule | Completing the Schedule | Standard Sub-Schedules | Carry Forward | Related Errors
The property business analysis is used to support a total amount of rental income or expenditure by breaking it down into its component items. Non taxable and disallowable items can then be identified in the disallowable column (which is hidden until used). The total amount and any adjustments will automatically be entered on the UK property income schedule.
To use the schedule, first develop it from any expense analysis or any other UK property business analysis. You will be asked to place the cursor on the line you wish to support (on that same schedule), and then press return or double click on a cell in the correct row. The UK property business analysis schedule will then be loaded.
The title will automatically correspond to the description of the item supported on the parent schedule, and the total column will identify any difference between the items analysed and the parent line.
Sign convention
The schedule follows the debit/(credit) sign convention, in both the main and disallowable columns. Thus income should be entered as negative.
Disallowable items
Any disallowable items may be cast into the disallowable column, where they will be transferred to the UK property income schedule.
Note: any disallowance must take place from the lowest level of analysis, and hence if a supporting schedule (e.g. reserves) is to be used for a particular line, the disallowance will take place from that schedule, and not from the actual UK property business analysis schedule. Where an adjustment is made on a schedule developed from the UK property business analysis any adjustment will automatically flow through onto UK property income schedule.
Investment companies
The investment company version of UK property business analysis is identical to the trading version.
Link Depreciation
Depreciation amounts identified in different UK property business analysis schedules can be pulled together and stored within the Reconciliation of Depreciation section at the foot of the Fixed assets schedule. The depreciation will then be added back on the UK property income schedule.
Link P/L on disposal
Profit and loss amounts identified in different UK property business analysis schedules can be pulled together and stored within the Reconciliation section of the Disposals schedule. The profit/ loss will then be added back to/ deducted from the UK property income schedule.
Link capital items expensed
Allows an amount to be linked to the Capital items expensed schedule. If the capital items expensed schedule is not already in the computation, it will be developed automatically when this link option is used. Any amount linked through from a UK property business analysis schedule will then be added back on the UK property income schedule. The amount can be attributed to a UK property capital allowance schedule as appropriate.
Link Loan relationships
Allows an amount to be linked to the Loan relationships schedule. If the loan relationship schedule is not already in the computation, it will be developed automatically when this link option is used.
A range of schedules may be developed to support the entries made on this schedule - please see the schedule map for more information.
On carry forward, the captions entered on the earlier year schedule will be transferred to the later year, and the earlier year balances will be placed in the prior year total and disallowable comparative columns.
Any rows unused in the later year may be deleted as required.
© 2009 Thomson Reuters.