Where shares have been purchased ex-dividend or sold cum-dividend, the trust or estate will have realized 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 for a disabled persons trust or by a personal representative 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 - enter a description.
Dates - enter the date acquired and disposed of.
Relief on contract note - enter the amount of relief.
Date of Event - enter the date the accrued relief was received.
Holding - enter holding enter the value of the holding, this if for information purposes only and may be left blank.
When the charges entered exceed the reliefs, the amount is taxable at the trust rate for all trusts except for estates, which will be taxable at the lower rate.
The total is entered in box 9.38 on the trust return for all trusts
except for estates. This entry will be made in box 9.14 on the trust return
for an estate in administration.
When the reliefs exceed the charges, the excess amount is deducted off
the interest received shown in box 9.14 on the trust return.
Accrued income relief that a member of Lloyd's is eligible for can be entered in the Lloyd's Underwriters section under the Other Income and Reliefs section. Information entered under the accrued income reliefs section here will be shown in box 1L.15 on the Lloyd's Underwriter pages.