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
C2 schedule - Shadow ACT matrix |
See Also
C3 schedule - Shadow ACT group carry back matrix | O schedule - Group members | Updating the computations
Select from the following headings:
Background | Developing the schedule | Completing the Schedule | Standard Sub-Schedules | Carry Forward | Related Errors
This schedule analyses the group Shadow ACT position for the current period.
This schedule is automatically developed in every group file.
Schedule layout
It shows companies with surplus shadow ACT across the top of the schedule and companies that have capacity to utilise shadow ACT down the left hand side.
Allocating Shadow ACT
Shadow ACT is allocated by entering positive figures or formulae at the intersection of the appropriate row and column. The software gives an error Allocation required if there is both surplus, shadow ACT and unused capacity showing on the schedule.
Where the amount allocated differs from the amount recorded in a company's computation, the software gives an Update required error on the O schedule (Group members). The revised allocation may be posted in to the relevant companies' shadow ACT schedule by selecting File, Link, Update companies from the menu.
Other information provided on the schedule for each group company includes the total shadow ACT available for off set in the period, any amounts remaining after set off and shadow ACT that has been carried back.
The schedule shows if the group companies have been set to be within the shadow ACT regime. The user can choose to suppress the schedule by setting a flag at the top if the group is outside the regime (for example, if the group has made a final accounting period election). This setting will be used to update the equivalent flag on the shadow ACT schedule of each linked company. The user can prevent this by setting the Update Shadow ACT flag on the O schedule (Group members) for that company.
This schedule has no standard supporting schedules.
© 2009 Thomson Reuters.