 |
 |
|
|
The share holding screen is accessed via Capital Assets when adding new share holdings or editing existing holdings. The screen is used for recording the details of any shares or unit trusts owned that are or will be eligible for capital gains. Assets should be entered in the asset details section.
An example of this screen can be seen here.
Enter the initial share or unit trust purchase on this screen. Further purchases and partial or full disposals are entered in the operative event screen, which may be accessed via the operative events magnifying glass.
Field Name |
Description |
Client Type |
|
Master Group |
Click the magnifying class to select a quoted company from the master list; this will populate the Company Name and Share Class automatically. To use the IRIS Dividend Service you must select companies from the company lookup. |
All IRIS Dividend Service is available to individual and trust clients. |
|
Company Name |
The name of the company. |
All |
|
Share Class |
The class of share acquired. |
All |
|
Amount Paid |
The amount paid for the shares. |
All |
|
Market Value @ 1982 |
Enter the Market Value as at the 31st March '82 for rebasing purposes. This field is only enabled when the purchase date is on or before 31st March 1982. |
All |
|
Attributed Gain |
Select the attributed gain option for assets attributable to a settlor. |
Individuals only |
|
Spouse transfer before 6th April '08 |
Tick this box to trigger indexation calculations on shareholdings transferred from the clients spouse. |
Individuals and trusts |
|
Jointly Held |
Tick this box to state the asset is jointly held with another individual or trust and enter the percentage of ownership for this client. |
Individuals and trusts |
|
Chargeable on settlor |
Tick this box to stop the taper relief calculation being performed on this asset. |
Trusts only |
|
Operative Events |
Click the magnifying glass to enter any operative events for this holding. Operative events can be accessed from the main Capital Assets window. |
All |
|
Defunct Holding |
Tick this box if this shareholding is obsolete in the clients portfolio. |
All |
|
Dividends |
Click the dividends magnifying glass to access input / import dividends for this share holding. |
Individuals and trusts. |
|
Cost of Acquisition |
Enter any expenses associated with the purchase of this asset, for example brokers fees. |
All |
|
Description of Cost |
Enter a description for cost of acquisition. |
All |
|
Total Number of Shares |
Enter the number of shares purchased. |
All |
|
Unit Trust |
Tick this box if the holding is a unit trust. |
Individuals and trusts |
|
Unlisted Shares |
Tick this box if the holding is not listed on the LSE. |
Individuals and trusts |
|
Company Registration No. |
Enter the companies registration number. |
All |
|
Ex / Cum Dividend |
Select whether this acquisition is excluding or cumulative of the dividends. |
Individuals and trusts |
|
Asset Use Non-Business |
Select this option if the asset is solely for non-business use. |
Individuals and trusts |
|
Business |
Select this option if the asset is solely for business use. |
Individuals and trusts |
|
Shared |
Select this option if the asset is a mixture of business and non-business use; enter the percentage of business use in the % field. |
Individuals and trusts |
|
Became a business asset on 6/4/2000 |
Tick this box if the asset was for non-business use up to the 5th April'00 and then became a business asset from 6th April'00. |
Individuals and trusts |
The IRIS Dividend Service is available as an optional extra. To make use of this, all shareholdings (UK Companies or UK Unit Trusts) should be linked to one of the listed companies. This makes it possible to automatically insert the year's dividends straight on to the tax return. The link is via the master group option at the top of the screen. Even if you do not subscribe to the service now, it is still worth making the link to insert the company name and share class and to prepare for further future enhancements.
Enter details of shares held and of unit trust holdings. This section will be used to generate dividends paid in a future enhancement to the software, therefore we suggest all holdings are entered, even if there are no disposals in the fiscal year.
All shares of the same class should be grouped together. If all the shares are sold but more shares are purchased within 30 days, use the same pool for the next acquisition.
Spouse transfers made before 6th April 2008 are subject to an indexation calculation; the shareholding must be created with the original purchase date and amount.
The Clone option, only available in IRIS Personal Tax, allows the details and events of a share holding to be copied to another client. This feature is useful when setting up share holdings that are jointly held or transferred between two clients on the system. Simply click Clone and select the client you wish to copy the share holding to. For more information please read the How to Clone a Shareholding help screen.
Please refer to the quick guide 'How to enter a shareholding' for a step by step guide on how to create a share holding that has various operative events.
