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The same screen is used for both charges and reliefs. It is also used for Lloyd's underwriters.
Where shares have been purchased ex-dividend or sold cum-dividend, the individual will have realised a gain, reflected in the purchase/sale price. This gain is taxable under the accrued income scheme. Details of gains do not have to be entered where the total nominal value of all shares purchased and sold in this way, is less than £5,000. Shares sold ex-dividend or purchased cum-dividend will provide relief.
Security description, enter a description.
Holding, enter the value of the holding, this if for information purposes only and may be left blank.
Charge on contract note/Relief on contract note, if you do not wish IRIS to calculate this amount automatically, enter the accrued income amount.
Calculate using the following details, tick this box then complete the fields below as appropriate.
Ex-div/Cum-div, specify whether the purchase or sale was ex-dividend or cum-dividend. This will affect the dividend/interest date question changing it to be either the date before or the date after the transfer.
Date of transfer, enter the date of purchase or sale.
Nominal amount, specify the value of the holding bought or sold.
Dividend/Interest date, this will be the date of the last dividend/interest payment that preceded the purchase or sale or the date of the first payment after the purchase or sale. IRIS will automatically prompt for a pre- or post-transfer date depending on whether the transfer was ex-dividend or cum-dividend
Interest rate, enter the rate of interest using up to 4 decimal places.
Calculated, the charge or relief is the
nominal amount x number of days / 365 x interest rate.
The number of days is the number of days between the date of transfer and the dividend/interest date. This includes both dates in the count. For example, a cum-dividend sale on 1/1/02 of £10,000 shares where the previous interest payment was on 1/12/01 is counted as 32 days when computing the charge.
