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This section should be used for foreign savings, dividends or other investment income (including income from offshore funds) that is taxed at the lower rate (20%). If the taxpayer is not domiciled in the UK then IRIS will assume that any amounts entered here have been remitted to the UK. If the income is not remitted to the UK, do not enter any details.
Enter details of the security on the provider record:
Details of Source - enter a description on the provider.
Country, enter the country- this information appears in the tax return.
Date source acquired, disposed of - theses dates are for information purposes only and may be left blank, if the date disposed of is entered this will prevent the record being brought forward to the following tax year.
Income receipt are type - click in Interest or Dividend.
Claim Tax Credit Relief (Y/N) - enter Y in the claim tax credit relief field to obtain a tax credit, in the computation, for the foreign tax paid click here or more details of this type of relief.
Joint Income - click here for more information.
The income record stores the details of each receipt from the source of income:
Income received - enter the gross income received.
Foreign tax paid - enter the foreign tax paid. IRIS does not store rates of withholding tax. The foreign tax entered should be limited to the appropriate rate of withholding tax where a double taxation agreement exists between the UK and the country in question.
Date income received - this is for information purposes only and may be left blank.
UK/Special Withholding Tax - enter the amount of UK tax/special withholding tax deducted from the income.
