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Schedule A income/(losses) |
See Also
ABAs - single site | Adjustment of profit | Allowances - Plant | Expense analysis | Expensive cars | General allowances | IBA site | Losses and allowances | Profit and loss account / Income statement (D schedule) | UK property business analysis
Select from the following headings:
Background | Developing the schedule | Completing the Schedule | Standard Sub-Schedules | Carry Forward | Related Errors
This schedule allows the user to analyse sources of Schedule A rental income. Adjustments for items such as depreciation or disallowable expenditure made on UK property business analysis schedules will feed through to the Adjustment of rental profits section of the schedule.
This schedule is developed from the A schedule.
Alternatively it will be developed automatically when:
Additional rows can be inserted if required to analyse out the income and expenditure incurred for the period. Allowable deductions would comprise those expenses incurred in generating business profits.
Losses
Any schedule A loss is offset against other Schedule A income and is streamed as a separate column on the Losses schedule.
Relief for a schedule A loss is given against total profits of the same accounting period. A claim may also be made to surrender any remaining loss to group companies, otherwise excess losses are carried forward to be set against income of subsequent periods.
On carry forward, this schedule is automatically developed in the subsequent computation if it is present in the prior year computation.
© 2009 Thomson Reuters.