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Annual payments not otherwise charged |
See Also
Adjustment of profit | Annual payments not otherwise charged - multiple | Expense analysis | Profit and loss account / Income statement (D schedule) | UK property business analysis | UK property income
Select from the following headings:
Background | Developing the schedule | Completing the Schedule | Standard Sub-Schedules | Carry Forward | Related Errors
This schedule allows any row on the D schedule or an Expense analysis schedule or a UK property business schedule to be analysed as a single source of non-loan relationship interest, giving the balance sheet movement. The item must consist only of non-loan relationship interest.
The schedule is developed from the D schedule.
The schedule follows the standard Dr/(Cr) convention. The caption for other adjustments is available to the user.
Some of the entry cells are described in more detail:
Receivable, beginning of period
The schedule requires the user to enter the opening balance receivable, if any, if this is the first period the schedule is used.
Received during period
There are separate rows for amounts received as annual payments or taxed income. Each amount should be entered with a leading minus.
Other
Additionally rows can be inserted for other adjustments such as exchange rate movements. The user is responsible for ensuring that the correct tax adjustments are made if this row is used.
Credited to P & L account
The amount credited and the amount received will automatically be taken to the A schedule as non-trading income and as non-loan relationship interest respectively.
If the schedule was developed from a UK property business schedule schedule then the adjustment will be made on the UK property income schedule rather than on the A schedule.
Income tax suffered
The user should also enter any income tax suffered on receipts. This amount should be entered without brackets.
The user is responsible for ensuring that the correct tax adjustments are made if this column is used.
Investment Companies
The investment company version is identical to the trading company schedule.
Long periods of account
For long periods of account two sets of receipts rows are provided, one relating to each accounting period.
This schedule has no standard sub-schedules.
On carry forward, the balance receivable at the end of the period will be become the balance brought forward in the next.
None.
© 2009 Thomson Reuters.