Hello all
My first post!
Just wondering if anybody has experience in filling the IR10 (accounts information) form. This is for an investment property owned by an LAQC in which I am a shareholder & director.
At this point there are only losses from the investment and I plan to pass on losses of the LAQC to myself.
The IR4 form seems OK but the Balance Sheet items in the IR10 stumped me. Just thought I'll so some groundwork on the various forms for tax returns before talking to an accountant.
Some of the items in the IR10 are - items 31 and 47 - Bank accounts
Also item 52 (drawings), item 53 (current a/c closing blance) and item 54 (total shareholder funds)
Any light on these will be really appreciated.
(maybe the IR10 is not required in the first place for an LAQC with rental income???????)
Another question - is an IR3R (Rental income schedule) required for the LAQC returns? Looks like its required only if the rental property is associated to an 'individual income' and the IR3 return.
Cheers
AKR
My first post!
Just wondering if anybody has experience in filling the IR10 (accounts information) form. This is for an investment property owned by an LAQC in which I am a shareholder & director.
At this point there are only losses from the investment and I plan to pass on losses of the LAQC to myself.
The IR4 form seems OK but the Balance Sheet items in the IR10 stumped me. Just thought I'll so some groundwork on the various forms for tax returns before talking to an accountant.
Some of the items in the IR10 are - items 31 and 47 - Bank accounts
Also item 52 (drawings), item 53 (current a/c closing blance) and item 54 (total shareholder funds)
Any light on these will be really appreciated.
(maybe the IR10 is not required in the first place for an LAQC with rental income???????)
Another question - is an IR3R (Rental income schedule) required for the LAQC returns? Looks like its required only if the rental property is associated to an 'individual income' and the IR3 return.
Cheers
AKR
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