Bonus issues of securities and loans written off

This screen is accessed via the Data Input tab within the tax return. Data is entered via a grid, a new line is available each time a line is entered.

If the partnership receives a bonus issue of securities or redeemable shares, the amount of the distribution is:

• for ‘redeemable share’, their nominal value plus any premium payable.

• for ‘securities’, the amount of the principal secured plus any premium payable minus any new consideration given for that issue.

A loan or advance made by a company wholly or partly released or written off may be taxable. If so, the amount released or written off is treated as a net amount of income.

The information given here is used to populate the dividends section on the SA804 of the tax return.

• Description - enter a brief description of the bonus issue of securities or loans written off, this does not appear on the tax return and is for memo purposes only.

• Total amount - enter the total amount received.