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To access this screen select Data entry, Calculation, Income. Select the Overseas Income button to access this screen.
First you must choose the type of income you are going to enter. Business Tax needs to know the type of income as losses on Overseas trades and overseas land and property can only be utilised against income from the same trade. Once you have chosen the type of income select "Click here to add information" to display a data entry panel.
It is not possible to have entries with the same description.
Any trade or overseas property entries which have losses carried forward are carried to the next year when you run the Bring forward routine.
Selecting trade allows you to enter the:
description of the income
profit or loss for this period
loss brought forward.
Business Tax calculates the loss carried forward and the net profit to be taxed in this CTAP.
Selecting dividend allows you to enter the:
The total of the net amount plus withholding and underlying tax is taxed under Overseas Income.
The withholding and underlying tax are memorandum entries. Business Tax cannot calculate the DTR.
Selecting Interest and patents allows you to enter the:
Description
Amount received
Withholding tax
The total of the net amount plus withholding tax is taxed under Overseas Income.
The withholding tax is a memorandum entry. Business Tax cannot calculate the DTR.
Selecting overseas land and property allows you to enter the:
Description
Profit / loss amount
Loss brought forward
Business Tax calculates the loss carried forward and the net profit to be taxed in this CTAP.
If double tax relief is available this can be entered on the Reliefs and Deductions screen.