REIT Tax deducted from distributions

Background

This schedule is developed from the REIT summary information schedule, and is used to calculate the additional Miscellaneous income charged on the residual business under Regulation 6, SI 2864 2006.

This schedule is only available where the REIT type on the REIT summary information schedule has been set to either ?Single company REIT? or ?Principal member of a REIT group?.

The total Miscellaneous income charged on the residual business will be automatically linked through to the Adjustment of profit schedule.

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Developing the schedule

This schedule is developed from the G schedule ? REIT summary information and is developed along with the Analysis of distributions schedule from Develop > Analysis of distributions

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Completing the schedule

The schedule is made up of a series of data entry fields, where the user is required to enter the information required to allow the Schedule DVI income to be calculated.

Note that percentages should be entered as a percentage of 100, e.g. 25% should be entered as ?.25?.

Additional columns can be added or deleted where required by using either: -

selecting the Edit > Insert or Edit > Delete options; or,
the Insert and Delete keys.

A data entry cell is provided to allow the tax rate applied to distributions made from tax-exempt profits to be over-ridden where appropriate. Where different rates have been applied to different part of the distribution figures entered - for instance, the tax rate has changed part way through the year - the effective rate applied to the distribution should be entered

The total Miscellaneous income figure will be automatically linked through to the Adjustment of profit schedule, for inclusion in the tax calculation of the residual business.

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REIT Tax deducted from distributions

Background

Developing the schedule

Completing the schedule

Standard sub-schedules

Carry forward

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