This section is also used for income received from non-resident trusts
and income received by trusts or companies abroad. An offshore fund
is a non-resident company or a foreign unit trust or other arrangement
where the trust or estate holds a material interest. Do not enter detail
of income arising from the offshore fund, that should be entered as foreign
dividends or foreign interest. This section is for the income received
on disposal. However, if the fund has been granted distributor status
the gain on disposal will usually be subject to capital gains tax and
be entered as a gain rather than income. Any unindexed gain on disposal
should be entered as deemed income.
Description |
The first line must be entered. |
Dates |
Not compulsory. If entered, the date of acquisition must be before the end of the tax year and the date of sale must be after the start of the tax year and after the date of acquisition. |
Amount |
Enter the income. |
Trust is an offshore Trust |
This box should only be selected if the Trust is an Offshore Trust and the disposal is not liable to income tax. Selecting this box will prevent the income entered from being included on the Return or in the calculation, but it will still be shown in completion of Form 50(FS) |
Where the trustees have an absolute entitlement to income from a non-UK resident trust, enter any foreign source income in this section. (UK source income should be entered as if it were normal UK income.) Any discretionary payments from non-UK resident trusts should also be entered here.
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