IFM28095 - Real Estate Investment Trust : Distributions: administration: attributions and reconciliation: summary of examples
The tables on this page and at IFM28085 and IFM28090 summarise the examples in IFM28075 and IFM28080.
Reconciliation for a.p.e. 31 December 2017
Following on from the reconciliation for the previous accounting period (see IFM28085), the reconciliation for distributions paid in the next accounting period, ending 31 December 2017, would then look like the table below.
| Category | reserves b/f | adjust-ments to b/f | allocate 20016 profits | 31.12.16 final balance | March |
| 2017 distribution | Sept 2017 distribution | reserves c/f | ||||||
|---|---|---|---|---|---|---|---|---|
| (a) | - | - | - | - | - | - | - | |
| (aa) | (540) | - | 1,170 | 630 | (630) | (675) | (675) | |
| (b) | (10) | - | 200 | 190 | (50) | (75) | 65 | |
| (c) | 100 | - | 130 | 230 | - | - | 230 | |
| (d) | - | - | - | - | - | - | - | |
| (e) | 100 | - | - | 100 | - | - | 100 | |
| totals | (350) | - | 1,500 | 1150 | (680) | (750) | (280) |
The first column is the reserves brought forward from the first table of the 2016 reconciliation.
The second column shows any adjustments to the reserves brought forward (none in the example)
The third column shows how the full year profits of 2016 are divided up between Categories (aa) to (c).
The fourth column works out the reserves in each category after the 2016 profits are included. This will reconcile to the submitted tax returns for the REIT for the year ended 31 December 2016. C demonstrates that it has met the 90% dividend requirement for 2015 as the balance carried forward in category (aa) is less than the dividend obligation for 2016.
The fifth column shows how the final distribution for profits of 2016 is attributed between Categories (aa),and (b).
The sixth column shows how the interim distribution for profits of 2017 is earmarked.
The final column shows how the reserves stand in the year end reconciliation. As the profits for the year to 31 December 2017 have not been struck, they do not feature in the reconciliation of distributions paid in the year.