Authorised Investment Fund
Corporation Tax
Group Module
Investment Trust
Life
Hotline
Pack development
Irish Corporation Tax
Partnership Tax
Partnership Gains
Administrator
Tracker
Hong Kong Profits Tax
VAT
Personal Tax
Corporation Tax Lite
Projected net worth |
See Also
Payments on account | Projected profit and loss account
Select from the following headings:
Background | Developing the schedule | Completing the Schedule | Standard Sub-Schedules | Carry Forward | Related Errors
This schedule allows the projection of net worth to be completed based on a change in net worth between the two balance sheet dates. The schedule can be used to estimate taxable profits/losses and non allowable exchange gains and losses for payment on account projections.
This schedule is developed from the Payments on account schedule.
Where this schedule has been developed, the Projected profit and loss schedule will be unavailable as this too provides estimates of the taxable profit or loss, which also feed into the S schedule.
The columns can be used to enter up to four different estimates. Some of the cells are described in more detail.
Exchange ratesThere are data entry cells where the user should enter exchange rates at the top of the schedule. The notation used should be the standard software exchange format; e.g. @$1.2805.
Closing/Opening balance of net assets
Data entry cells for the currency values of net asset balances and adjustments for the movement in net worth calculation are towards the bottom of the schedule. The default currency has been set to $. If you require a different currency you should reformat the currency based cells to the appropriate currency using the menu option Format, Currency, Select currency, Range. The sterling equivalent of these values is then calculated automatically using the exchange rates as above.
Taxable profit/loss/Non allowable exchange gains and losses
The projected taxable profit/loss and non allowable exchange gains and losses will be posted automatically to the S schedule.
The schedule has no standard supporting schedules.
This schedule does not carry forward.
© 2009 Thomson Reuters.