Dividends from UK companies

This section is used to record dividends and other qualifying distributions received from UK companies. Stock dividends and Unit Trust Dividends are entered elsewhere.

Tax is no longer taken off at source for UK company dividends, and must be declared as the amount received on the tax return. Tax due will be calculated accordingly.

Refer to the HMRC Tax return for Self Assessment guidance if needed (opens in a new tab).

  1. From the Clients menu, select Clients list.
  2. Change the client list view to either Active clients or a custom view that includes all relevant clients.

    3. If any of the entries are greyed out and you cannot select them, this is a restricted item — the parent client record has been set to Private and you do not have access. If you believe this is a mistake, contact your IRIS Elements administrator. Users who have Administrator level permissions are able to view all public and private client records, even those where they are not named as assigned users.

  3. Open the relevant client record.
  4. On the Personal tax returns widget on the client dashboard, select the required return. The Status tab is shown by default.
  5. Select the Data input tab, then select Add new section.

    Any previously added sections are crossed through. Once added, the section can be edited by selecting its name.

  1. On Choose a section to add, under Savings and dividends, select Dividends from UK companies.

    If the section is crossed through, it has already been added to the tax return. To adjust it the existing values, close the window and select the section on the Data Input tab.

  2. For each dividend, complete the following, then select Save changes.

    A new line is automatically added. Unwanted lines can be deleted using the bin icon.

Dividends from UK companies

IRIS Elements Tax and Accounts contains information on dividends from companies listed in the FTSE-350 index. As you begin typing, a list of matching dividend descriptions is shown. Select the required dividend.

If you select one of the FTSE companies then all the payment dates for that company will be entered automatically into the grid. If the required dividend is not listed you will need to enter the name and share description.

Enter the number of shares held, if known. If the holding is one of the FTSE-350 companies for which IRIS Elements Tax and Accounts has dividend payment information then the number of shares will be used to determine the actual dividends and tax credits due in order to automate the completion of the dividend data.

Enter the payment date for the dividends if this hasn't been automatically populated.

Enter the dividend received if this hasn't been automatically populated.

Select to identify any dividends that have been sold. This prevents the dividends being carried through to the following year.

Additional text note for tax return

Enter any additional notes to be included on the tax return.