There are a number of Reports in Trust Tax which can be found by either using the 'Reports' menu at the top of the screen or by using the tree view on the left-hand side of the screen.
This option will print the whole Tax Return, including any supplementary pages.
There is no direct option to print selected pages using this print option but the report-on-screen toolbar, shown below, includes the facility to select specific pages. To make use of this, send the report to the screen. Use the second button (two pieces of paper) to bring up a page range window. This includes an option to print the current page or a selection of pages.
The software will automatically determine which schedules are required. It is not possible to force IRIS to print pages that are not naturally included.
This will print the main Tax Return, not any of the supplementary pages.
This option will print just the Self Employment supplementary pages (provided they are relevant to the Trust).
This option will print just the Lloyd's Underwriter supplementary pages (provided they are relevant to the Trust).
This option will print just the Partnership supplementary pages (provided they are relevant to the Trust).
This option will print just the Land and Property supplementary pages (provided they are relevant to the Trust).
This option will print just the Foreign supplementary pages (provided they are relevant to the Trust).
This option will print the Capital Gains Tax supplementary pages (provided they are relevant to the Trust).
This option will print the Non-Residence supplementary pages (provided they are relevant to the Trust).
This option will print the Charity supplementary pages (provided they are relevant to the Trust).
The Schedules of Data show details to back up the totals shown on the Tax Return and computation. It shows Trust Details, Income and Other Information. It will also show the Tax Pool calculation where appropriate.
It is possible to select certain sections for inclusion in the schedules of data to be printed. Click on the [+] signs to show the sub-sections. Click the tick mark to turn it into a cross and exclude the section.
Use this option to open the R185 screens. The print option on this screen will print R185s for all beneficiaries where payments have been entered.
A letter will be produced for each payment to a beneficiary. An AutoMail licence is required to produce R185 letters.
Form 41G is a trust enquiry form used to provide details of a new trust for the benefit of the Inland Revenue. This is separate from the form 64-8 which is the authority for agents to act on behalf of clients. More detailed information regarding the form has been detailed separately.
Form 50 (FS) is used by HMRC to calculate any tax liability arising to the settlor or beneficiaries connected with the settlement.
This form should be completed and sent to the Inland Revenue as authorisation to act on behalf of a client. Most of the information required to complete this form will be picked up from the client maintenance screens.
The tax computation shows the tax liability of the Trust and, if applicable, the tax pool calculation. A breakdown of the computation has been detailed separately. The tax computation can be produced with or without the payment on account information. If the payment on account information is displayed, choose whether any repayment should be offset against the first payment on account by selecting on the Report Options screen.
The trade computation will show the basis of taxation used to compute the profits for the Trusts Sole Trades and Partnerships. IRIS caters for the opening and closing year rules and for changes in the account period date. It will store and utilise overlap profits as appropriate it also automatically apportions the profits for any account periods used.
This report is available whenever an amount has been entered in box 4.9 (foreign tax credit relief claimed) on the Tax Return. The computation for foreign tax credit relief is complex and is not detailed fully in this report. The key figures are shown on the report to help explain the final total. .