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Mr and Mrs Beaumont jointly own shares in British Gas. Deal with Mr Beaumont's income first by selecting Dividends followed by Capital Assets.
Before dividend income can be recorded you must first register the share holding details. Click on the share holdings option down the left hand side of the screen and click Add from the buttons across the top of the screen on the right and input the following details:
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Company Name |
British Gas |
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Share Class |
Ordinary 10p |
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Date Acquired |
01/12/2001 |
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Amount Paid |
£1000 |
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Total Number Shares |
500 |
Once the above information has been input click OK. Now that the company has been established, enter the following receipts by clicking the Dividends button then click on the British Gas share holding in the top half of the screen followed by Add in the bottom half. enter the following dividends received:
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Date payment received |
Amount of dividend (net) |
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01/07/07 |
17.32 |
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15/03/08 |
19.8 |
The tax credit is automatically calculated (based on the net dividend) and entered in the tax credit field.
Click OK to save the dividend details. Once both dividends have been entered click close to return to the main capital assets screen.
As mentioned above the British Gas shares are jointly owned to save re-entering the shareholding and dividend for the spouse; it is possible to clone this shareholding. This is done as follows:
Click on the British Gas share holding then click the Edit button above.
Click the Clone button at the bottom of the screen and click Yes to the prompt "Are you sure you want to clone this record?"
Choose Mrs Beaumont then click Select.
Click Yes to the prompt 'You are cloning this record to BEAU02 Continue Y/N'.
This facility takes an exact copy of the share holding and places this copy in the spouses capital assets income section.
Click OK to return to the main capital assets screen then click the red cross in the top right to close the capital assets module.
Note; no link remains between the joint shareholding, so any further changes made would need to be entered for both clients. It is advisable to only use the clone facility after all the details have been entered as further cloning of a share holding will result in multiple copies in the spouse's capital assets income section.