Transfer Pricing
Overview
This section was designed for users to analyse transfer pricing adjustments.
The sheet is used to enter UK-UK and UK-Non UK transfer pricing adjustments for each business. Amounts are posted to the sheet for the relevant tax category to ensure that adjustments are taxed or relieved correctly. This sheet is a unique optional sheet and has no standard supporting sheets. Data on this sheet can also be transferred from Group files.
Completing the Sheets
You can enter amounts directly onto the sheet for each adjustment type, or transfer data from Group to the respective entities. A set of columns is inserted per accounting period.
In all cases, the schedule will display the ‘Non trade loan relationships’ section. Adjustments in respect of other items will only be shown if the applicable corresponding sheet is developed. The software supports adjustments in the following categories:
- Trading income
- Property business
- Tax exempt property business
- Trading loan relationships
- Trading intangibles
- Expenses of management
- Non-trade loan relationships
- Non trading intangibles
- Annual payments (FY20 onwards)
- Miscellaneous income and gains
The adjustments for each of the above categories link through to the corresponding sheet.
In the
Jurisdiction
column you should specify whether the adjustment relates to a transaction with a UK or Non UK entity (UK-UK or UK-Non UK). The Adjusted price/value
and Adjusted units
columns allow you to input details of an adjustment which relate to a specific number of items or units.The
Adjusted fixed value
column lets you enter a total adjustment amount for a specific adjustment. Total adjustments for UK-UK and UK-Non UK amounts are calculated in separate columns and also apportioned between any different accounting periods. If you need to override the split between the different accounting periods you can do this by using the switch Override period specific allocations
.