Participants

The participant function contains both content for the tax return and calculation functions for allocating various items to participants or registering the entry and exit of participants as well as transfers of ownership shares.

Participants overview

This displays an overview of company participants with the distribution of ownership shares at the beginning and end of the year, as well as the distributed share of profits. By clicking on a participant, you will navigate to the participant's card.

Participant tasks are available as a downloadable zip file in the menu at the lower left corner. The participant tasks are intended to be sent to each company participant.

Participants are created by pressing the add button in the upper right corner. When creating a new participant, it is usually sufficient to enter data under Participants – Participant's name - Information, while other details will be derived from various functions with the distribution of amounts among participants.

When manually creating a client for an existing company (creating a new client) that is not imported from Altinn, registration of other information transferred from previous years must, of course, also be recorded."

Participant - Participant's name - Information

This tab provides key information about the company participant.

Participant - Participant's name - Distribution

This tab provides an overview of distributions. These are recorded as a distribution of accounted dividends in the Distributions etc. function in the left menu.

Participant - Participant's name - Additional income

This tab is only visible for individual participants.

This tab displays:

• Calculation of the protection basis at the end of the year for individual participants.

• Calculation and updating of protection deduction for individual participants.

• Calculation of additions to income for individual participants.

Normally, registration of values ​​here only applies to:

• Unused shielding from previous years (if this must be changed)

• Transferred shielding deduction from previous years from/to another company with participant fixing

Other values ​​are transferred from other functions in the program.

Participant - Participant's name - Cost price / equity account

This tab shows the status and movement of:

• Input value

• Capital paid in for tax purposes

• Equity for tax purposes

• Accounting equity (only for those with full accounting obligations)

This tab summarizes values ​​from other parts of the program, but can also be overridden if necessary.

Transferred from the previous income year corresponds to the former RF-1233 pot 600 and are editable fields that show last year's values ​​from the line Transferred to the next income year.

Acquisition of share during the year and the row Realization of share during the year show values ​​transferred from the Transactions function in the left menu.

Deposits in the year and Repayment of paid-in capital show values ​​transferred from the function Changes in sec. Paid-in capitall in the left menu.

Distribution for the year shows values ​​transferred from the function Distributions etc. in the left menu. This year's distribution is also shown on the tab Distribution to the owner.

Improper contributions consists of the tax disadvantage for the owner in cases where the year's distributions do not cover the calculated tax on the participant's share of the company's profit. The supplement is given because the taxpayer must use other funds outside the company to pay tax on the company's profits. Calculation of the amount is shown on the separate card Distribution to the owner.

Tax benefit of loss consists of the tax benefit of loss in the participant's share of the year's tax loss and is also shown on the separate card Distribution to the owner. The tax rules for companies with participant determination mean that this tax advantage must be deducted from the taxpayer's input value and share of paid-in equity, as the deficit adds liquidity to the participant by reducing payable tax on income outside this company.

The year's tax result is the participant's share of profit, as shown under the left-hand menu Owners shares and profit shares multiplied by the tax result as shown under Business income.

Tax-free income and non-deductible costs is the participant's share of the amounts shown under the left-hand menu Tax-free income and non-deductible costs. The participant's share is the profit share as shown under the left-hand menu Ownership shares and profit shares.

Other correction in column Entry value and column Paid EK applies to amounts from account with reference account 2015 / 8915 Other change in paid-in capital that is distributed between the participants in the left menu Changes in sec. Paid-in capital.

Other correction under column Earned equity basically shows amounts from account with reference account 2058 / 2059 / 8958 / 8959 other changes in equity. However, the post office will also correct calculations for all owners to ensure that the item Total EK (Total tax equity) of all owners amounts to the sum of tax equity. If there is a discrepancy between tax equity in the tax accounts and the amount of all owners in total tax equity per 31.12. the difference will be distributed between the owners according to their share of ownership on 31.12. so that distributed equity amounts to the same amount as actual tax equity.

The amount of total taxable equity will be calculated as total taxed equity in the accounts (code 2000, 2050 and 2080). For companies with full accounting obligations, the sum of temporary differences per 31.12. is deducted to arrive at tax equity.

The column Accounting equity constitutes the participant's tax equity corrected for the share of temporary differences per 01.01. / 31.12.

Participant - Participant's name - Acquisition/realization

This tab contains an overview of transactions for the individual participant based on the transactions registered in the left-hand menu Transactions.

Participant - Participant's name - Over/under price

This tab only applies to impersonal taxpayers (identified by the organization number and not the participant's social security number).

The function calculates the over- and under-price paid for transfers and also tries to distribute this in the case of partial disposal of ownership shares. The amounts can be overridden if necessary.

Participant - Participant's name - Wealth and income

Asset and income items from other registrations and calculations are summarized here. Some data are registration fields for records with no other functions associated with them. Feel free to press Show all to see all applicable fields for the taxpayer.

See the Items, fields and topics in the new tax return for businesses for more information.