How To
Property Authorised Investment Funds
CCH Trust Accounts
Property Authorised investment Funds (PAIFs) are a form of Open Ended Investment Company (OEIC). PAIFs can pay 3 distributions on the same day:
- A normal dividend
- A Property Income Distribution (PID), taxed at 20%
- An interest payment
Several changes have been made to make it easier to process PAIFs on Trust Accounts:
- A checkbox has been added to Edit Security > Attributes to indicate that a security is a UK PAIF. This works similarly to the existing checkbox for UK Real Estate Investment Trusts (REITs). But there are two differences:
- The REITs setting is completed by running the data feed (either Exshare or Telekurs)
- The REITs setting is only available for shares; whereas the PAIF setting is only available for Units in a fund
- The Income/Acquisition report shows REIT PIDs and PAIF PIDs under the heading of Property Income Distributions.
- PAIF PIDs are also brought into Personal Tax.
Related documents
Linking to clients in CCH Central
This document provides instructions on how to link and unlink clients from CCH Central in the CCH Trust Accounts system. To link a client, the user must select the client, click "Edit," then "Link," and choose the appropriate client from Central. Once linked, certain fields become non-editable in Trust Accounts. To unlink a client, the user clicks the "Unlink" button, which restores editability but deletes any accounting periods in Central. Key fields updated from Central include client name, address, and contact details.
Database Parameters
Various features in Trust Accounts are optional. To set up many of these, from the Activities menu select System Management, and then Database Parameters.
Data Parameters
Various features in Trust Accounts are optional. To set up many of these, from the Activities menu select System Management, and then Database Parameters.
Database Parameters
Database Parameters
Passwords
Passwords