IFM04374 - AIFs: Property authorised investment funds (PAIFs): tax treatment of PAIFs and distributions: attribution of distributions - example 2
For an explanation of this example please refer to IFM04370.
| Income and expenditure | Total | Notes | PID | PAIF dist (Interest) | PAIF dist (Divs) |
|---|---|---|---|---|---|
| Rental income | 18,000 | 1 | 18,000 | 听 | 听 |
| Income from ancillary services | 2,000 | 2 | 2,000 | 听 | 听 |
| Income from currency hedge | 3,000 | 3 | 3,000 | 听 | 听 |
| Cost of finance for properties | (5,000) | 4 | (5,000) | 听 | 听 |
| Property management costs | (6,000) | 5 | (6,000) | 听 | 听 |
| Repairs | (1,500) | 6 | (1,500) | 听 | 听 |
| Cost of ancillary services | (1,200) | 7 | (1,200) | 听 | 听 |
| Cost of currency hedge for overseas rent | (300) | 12 | (300) | 听 | 听 |
| Depreciation of plant and machinery | (500) | 8 | (500) | 听 | 听 |
| Property income distributions from UK REIT shares | 8,000 | 10 | 8,000 | 听 | 听 |
| Property (or undifferentiated) distributions from shares in overseas UK REIT equivalents | 5,000 | 11 | 5,000 | 听 | 听 |
| Cost of currency hedge on overseas (UK REIT equivalent) shares | (100) | 12 | (100) | 听 | 听 |
| NON -PID dividends from UK REITs | 250 | 听 | 听 | 250 | 听 |
| Dividends from other UK companies | 340 | 听 | 听 | 340 | 听 |
| Dividends from overseas companies (not UK REIT equivalent or identified as 鈥渘on- PID type鈥�) | 90 | 听 | 90 | 听 | 听 |
| Interest on income from deposits and bonds etc | 2,600 | 听 | 2,600 | 听 | 听 |
| Investment management charge | (1,500) | 13 | (1,300) | (200) | 听 |
| PBT | 23,180 | 听 | 20,100 | 2,490 | 590 |
| Adjustments | 14 | 听 | 听 | 听 | 听 |
| Depreciation | 听 | 500 | 听 | (500) | 听 |
| Shadow capital allowances (must use max available) | (200) | 200 | 听 | 听 | 听 |
| Total | 23,180 | 听 | 20,400 | 2,490 | 290 |
See notes at IFM04376.