Trusts

Trusts is an optional module that allows you to enter data that will form part of the submission to HMRC and be included in the tax calculation and reports.

Trusts and Settlements – Discretionary Income Enter details of income received from UK-resident discretionary trusts. Use the upper box to enter net payments from non settlor-interested trusts and the lower box for income from settlor-interested trusts.
Trusts and Settlements – Non-discretionary Income Enter details of income received from UK-resident non-discretionary trusts. Use the three boxes to identify non-savings income which has suffered basic rate tax, savings income which has suffered basic rate tax at source and investment income treated as having suffered tax at the dividend rate.
Income Chargeable on Settlors Enter details of income treated as that of the individual as settlor of a trust. Use the figures on the R185 (Settlor), available from the trustees.
Income from UK Estates Enter the figures of income received, net of tax deducted at source.

Income from Foreign Estates

Foreign estate income Enter the amount of income received from foreign estates.
Relief for UK tax already accounted for The amount entered here will be deducted from the foreign trust tax liability.
Foreign tax for which Foreign Tax Credit Relief has not been claimed The amount entered here will reduce the figure of foreign Estate income on which UK income tax is calculated.
Trust and Estates – residential Property Income Enter the amount of residential property income or restricted finance costs relating to property income entered above.
Other information Information entered here will appear on the Any Other Information box on the Tax Return Trust pages.

Trust and Estates – Residential Property Income

Unused residential finance costs brought forward Enter any unused residential property finance costs from this property business from earlier years. Any balance of the residential finance costs which is still unrelieved, may be carried forward to future years of the same property business.
Current year residential property income or restricted finance costs Enter the amount of residential property income or restricted finance costs relating to property income entered above.
Residential finance costs carried forward Enter the amount of unrelieved residential finance costs to be carried forward.

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