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From version 7.2 dividends are entered via Capital Assets Share Holding section. (Lloyd's underwriter dividends are not entered via capital assets.)
There is a separate data entry section for interest from the unit trusts. The screens below are also used to enter foreign income dividends. Do not include any amount referred to as "equalisation" from the vouchers. This is a repayment of capital and is not taxable.
Enter the details of the unit trust on the provider record:
UNIT TRUST company - enter the name of the company.
Fund - enter details of the fund.
Dates - these are for information purposes and may be left blank, if a date disposed of has been entered this will prevent the record being brought forward to the following tax year.
Units held - this is no longer used.
Enter the dividend received on the income record:
Cash or F.I dividend - enter C for cash of F for foreign income dividend.
Units held - enter the number of units held up to a max of 4 decimal places.
Amount of dividend (net) - enter the net amount actually received.
Amount of tax credit - IRIS will automatically compute the tax credit if the field is left blank. For 1999-2000 onwards the amount is computed as 10/90 of the net amount. In 1998-99 and earlier years it is 20/80 of the net amount. The figure will be truncated to the penny. If entered manually, the computer displays a warning message if it is not within 50p of its own calculation.
Date payment received - this is for information purposes and may be left blank.
