Pensions

These sheets are designed to calculate the tax adjustments in respect of contributions made to registered Defined benefit and Defined contribution pension schemes. An additional sheet can be developed for Defined benefit pension schemes to calculate any spreading adjustments.

Where you have identified amounts that you want to be treated as pension scheme related expenses within the

Income statement

, you should analyse these from either the

Expense and income analysis

or

Management expense analysis

sheets in which they arose. Select

Defined contribution pension

or

Defined benefit pension

(as applicable) from the

Analysed as

dropdown list on the relevant row, and develop the

Defined contribution pension schemes

or the

Defined benefit pension schemes

sheet by selecting

Insert Sheet

from the

Insert

menu. An error will show on the sheet until this has been developed.

On this sheet, you can add a row for each pension scheme you want to analyse. If there is more than one business in the calculation, the

Business

dropdown list lets you allocate data to the relevant business. This sheet automatically reconciles the total of debits and credits with the

Income statement

. It also provides a breakdown of all contributions made for each business inserted in the calculation.

This sheet lets you manually enter and analyse data relevant to a particular defined benefit pension scheme. This sheet reconciles the total of debits and credits with the

Income statement

. Using the

Business analysis

section, you must manually allocate contributions as well as applicable tax relief to each business inserted in the calculation. Any contributions manually entered on the sheet rather than using the

Defined benefit pension scheme spreading

sheet will need to be split manually when there are multiple accounting periods within the calculation.

If you have multiple defined benefit pension schemes, you can develop a separate supporting sheet for each one. Entering the pension scheme name in the cell at the top of the sheet makes each one easily identifiable in the sheet navigator located to the left side of the screen.

A separate instance of this sheet can be added for each defined benefit pension scheme. On this sheet, you can add a row for each contribution made to the particular defined benefit pension scheme. This allows tracking of contributions for the purpose of calculating any spreading restriction applicable in the current year. This sheet will calculate the excess contributions that need to be carried forward to future periods as well as the relief applicable for the current period.

This sheet cannot be used for contributions attributable to an investment business if the calculation has more than one accounting period. Rather, you will need to manually enter any adjustments on the

Defined benefit pension scheme

sheet.