Distributions: administration: attributions and reconciliation: summary of examples
Reconciliation for a.p.e. 31 December 2009
Following on from the reconciliation for the previous accounting period (see GREIT08085), the reconciliation for distributions paid in thenext accounting period, ending 31 December 2009, would then look like the table below.
|Category||reserves b/f||adjust-ments to b/f||allocate 2008 profits||31.12.08 final balance||March|
|2009 distribution||Sept 2009 distribution||reserves c/f|
The first column is the reserves brought forward from the first table of the 2008reconciliation.
The second column shows any adjustments to the reserves brought forward (none in theexample)
The third column shows how the full year profits of 2008 are divided up between Categories(a) to (c).
The fourth column works out the reserves in each category after the 2008 profits areincluded. This will reconcile to the submitted tax returns for the REIT for the year ended31 December 2008. C demonstrates that it has met the 90% dividend requirement for 2007 asthe balance carried forward in category (a) is less than the dividend obligation for 2008.
The fifth column shows how the final distribution for profits of 2008 is attributedbetween Categories (a), and (b).
The sixth column shows how the interim distribution for profits of 2009 is earmarked.
The final column shows how the reserves stand in the year end reconciliation. As theprofits for the year to 31 December 2009 have not been struck, they do not feature in thereconciliation of distributions paid in the year.