https://www.propertyinvesting.com/members/tax_and_the_city/activity/ Activity feed for tax_and_the_city. Tue, 14 Apr 2026 21:21:44 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 09040becea3e7d7d1f4498ba32649b56 https://www.propertyinvesting.com/topic/4399059-capital-gains-17/#post-4618944 Wed, 10 Mar 2010 03:15:59 +0000 unless you've been renting your main residence out for more than 6 consecutive years, any income-producing activity is ignored and the main residence exmeption applies (so any gains will be cgt-free).as far as only having one main residence at any one time, you actually get a bit of relief here – the lesser of 6 months or the time taken between…[Read more]

]]> a40703da91892c0c6d97cfb5c036f593 https://www.propertyinvesting.com/topic/4395092-trust-distribution-accounting-treatment/#post-4597605 Fri, 05 Mar 2010 02:48:16 +0000 Busy – when t he actual cash is paid, the entry is DR Drawings and CR CashI don't know why you would be coding beneficiaries share of profit to drawings, it should be allocated to a "Share of Net profit" account. I guess either way, it'll increase the beneficiary entitlements but technically, only draw-downs of the beneficiary entitlements should…[Read more]

]]> faa440d03a129a8e5b99516c4385f6bd https://www.propertyinvesting.com/topic/4395092-trust-distribution-accounting-treatment/#post-4597604 Fri, 05 Mar 2010 02:48:12 +0000 Busy – when t he actual cash is paid, the entry is DR Drawings and CR CashI don't know why you would be coding beneficiaries share of profit to drawings, it should be allocated to a "Share of Net profit" account. I guess either way, it'll increase the beneficiary entitlements but technically, only draw-downs of the beneficiary entitlements should…[Read more]

]]> e5d134cc8517239c2f35158eba7d319c https://www.propertyinvesting.com/topic/4395092-trust-distribution-accounting-treatment/#post-4597603 Fri, 05 Mar 2010 02:30:13 +0000 generally it's a credit to beneficiary loan accounts (but these should be called "unpaid beneficiary entitlements" to avoid being deemed loans (but that's another issue altogether) and a debit to trust distributions paid. depending on what software you use, the debit entry will vary. the bottom line is – you are aiming to reflect the accounting…[Read more]

]]> 6c4e66a8755b68e04cb303bcefb19e6e https://www.propertyinvesting.com/topic/4395092-trust-distribution-accounting-treatment/#post-4597602 Fri, 05 Mar 2010 02:30:03 +0000 generally it's a credit to beneficiary loan accounts (but these should be called "unpaid beneficiary entitlements" to avoid being deemed loans (but that's another issue altogether) and a debit to trust distributions paid. depending on what software you use, the debit entry will vary. the bottom line is – you are aiming to reflect the accounting…[Read more]

]]>