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The information on this screen is used to complete sundry boxes on the Tax Return.
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Date of issue |
Will be printed on the front page. By default, IRIS inserts the date after the end of the tax year. |
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Taxed income not included on Return |
It is unlikely that there will be any taxed income not included on the Return. However, if there is, select this option to complete the second Yes box at Question 9 halfway down Page 4.
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Non-Resident Trusts |
If the Trust has at some time been non-resident, select the box to complete the first Yes box for Question 16. |
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Provided non-relevant benefits |
Trustees of Funded Unapproved Retirement Benefit Schemes (FURBS) should select the box if non-relevant benefits have been provided to the beneficiaries. Help sheet IR391 gives details of benefits that the scheme may provide. If non-relevant benefits have been provided the trust will be liable to tax at the rate applicable to trusts. If 8.10 has been ticked, 8.16 will also be selected. |
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HMFs and the Trust Rate |
Heritage Maintenance Funds would normally be taxed at the basic, lower and dividend rates. If the trustees make an election to have the trust taxed at the rate applicable to Trusts select this box. This will ensure that 8.16 is selected and the Trust will be taxed at the Trust rate. |
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Number of Settlements created by the Settlor |
Enter the number of settlements created by the settlor of this trust. This information will affect the amount of standard rate band allowance applicable to the Trust click here for more information. |
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Employment Related Trusts:The trust is NOT liable at the trust rate |
All employment related trusts set up within IRIS will automatically be subject to tax at the trust rates. Select this option to use the standard rates where applicable. |
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Interest in Possession |
Interest in Possession Trusts will not need to complete most of the Return (Question 1 through to Question 18) provided that the criteria on Page 2 of the main Tax Return has been met. This information will be used to tick one of the boxes at Step 1 on Page 2 of the main Tax Return. |
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Capital |
If any income has been apportioned to capital this can be entered here (used for calculating the Trust's overall income for R185 purposes) |
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