Lesson 2E - Interest on Loans

The Trust has taken out a loan to pay Inheritance Tax.  The interest can be deducted from the income so should be shown on the Tax Return.

1. Click the minus sign next to the Income menu to collapse the Income treeview.

2. Click the plus sign next to Other Information.

3. Click the plus sign next to Reliefs, annual payments and expenses.

4. Highlight Interest on loan to pay inheritance tax.

5. Click New at the bottom of the right-hand screen and enter the following details:

6. Make sure that the details have been entered correctly and then click OK.

Lesson 2F - Trust Expenses