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REIT deductible on paid basis

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See Also

Expense analysis | Profit and loss account / Income statement (D schedule) | REIT property business analysis | REIT tax exempt property business | REIT tax exempt property business | Reserves (single item)


Select from the following headings:

Background | Developing the schedule | Completing the Schedule | Standard Sub-Schedules | Carry Forward | Related Errors


Background

This schedule provides an analysis of any costs which are deductible on a paid basis.

The total paid will automatically be carried onto the Tax exempt property business schedule.

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Developing the schedule

To use the schedule place the cursor on the expenditure row you wish to analyse within either the Profit and loss account, or any Expense and income analysis or REIT property business analysis schedule, then select Develop > Link > Deductible as paid.

Any difference between the total of all expenditure items analysed to this schedule and the amount entered Credit/(Debit) Profit and loss account will generate an error.

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Completing the schedule

The user is required to enter the opening balance of unpaid costs, the charge to the profit and loss, and the actual amount paid. The amount paid is then allowed as a deduction against the tax exempt property income.

Reconciliation

This will be automatically populated with the amount(s) linked through from the Profit and loss account, Expense and income analysis or REIT property business analysis schedule schedules. If the amount entered as Credit/(Debit) Profit and loss account does not reconcile to the total linked, an error will be generated

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Standard sub-schedules

The schedule has no standard sub schedules.

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Carry forward

On carry forward, this schedule is automatically developed in the following periods? computation, and the balance at the beginning of the period is automatically completed.

 

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Related errors

 

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