How to use the Joint Income Tool

Introduction

The joint income tool is available within the following sections:

• UK Land and Property

• Foreign

• Interest

• Other Income

This function allows users to enter the income on one client; IRIS will then copy this income to the other joint sharers.

• It is essential that the bring forward utility be carried out separately on each client where the jointly held function has been used. If this is not done any income details entered will not be copied across to the other joint shares record Using the joint income tool.

1. Log on to IRIS Personal Tax and select the client.

2. To enter joint bank interest for example, click Interest then select UK Bank.

3. Click New then enter the account details and click the magnifying glass at the end of the Not jointly held within this screen:
   
   
   
   The following screen displays.

4. Click New.

5. Select the other client or clients who hold a share of the interest paid from this account, click Select.
   
   
   

• Confidential clients, deceased clients and non clients of Personal Tax will not appear on the data mining list.

6. Enter the percentage share that each client holds then click OK.

7. Enter the interest received then click OK.
   

8. Users are required to enter 100% of the income received; this figure will then be copied across to the other joint shares records; IRIS will split the income accordingly when calculating the individual client’s liability.