Income chargeable to settlor

This section is accessed via the data input tab within the tax return and is used to enter income chargeable to the settlor of a trust. See HMRC Helpsheet 270 

  • Name of trust‘ Enter the name of the trust.
  • Address of trust’ Enter the address of the trust for your own information if required.
  • UTR of trust’ Enter the UTR of the trust
  • Is the income arising to another person?’Tick this box if the income is arising to another beneficiary but is taxable on the settlor.

Income arising

  • Non-savings income taxed at basic rate (net amount)’ Enter the figure from box 7 of the Form R185(Settlor).
  • Savings income taxed at basic rate (net amount)’ Enter the figure from box 8 of the Form R185(Settlor).
  • Dividends income taxed at dividend rate (net amount)’ Enter the figure from box 9 of the Form R185(Settlor).
  • Non-savings income taxed at trust rate (net amount)’ Enter the figure from box 10 of the Form R185(Settlor).
  • Savings income taxed at trust rate (net amount)’ Enter the figure from box 11 of the Form R185(Settlor).
  • Dividend income taxed at trust rate (net amount)’ Enter the figure from box 12 of the Form R185(Settlor).
  • Non-savings income paid gross’ Enter the figure from box 13 of the Form R185(Settlor).
  • ‘Savings income paid gross‘ Enter the figure from box 14 of the Form R185(Settlor).
  • Tax paid on certain UK life assurance policies’ Enter the figure from box 15 of the Form R185(Settlor).

Additional text note for Tax Return

Enter any additional information you wish to appear in the white space of the tax return.

Using income losses against capital gains

Firstly, please ensure that you are making the best use of the losses before proceeding. Select the Capital gains tab from the data input screen Click on the Disposals tab, and enter the relevant information Click on the Capital Losses tab, and enter the amount of loss that you wish to set off against the […]

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Restricting access to clients

This feature is only available for multiuser accounts, it has been designed so that you can restrict user access for certain clients if required. Users with “edit client access” rights AND who have access to a client can assign or remove access rights via the Access tab on the client screen. The default is that […]

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User restrictions within Taxfiler

This function is only available for a multiuser license. Some functions within Taxfiler can be restricted from a user. From the SETTINGS icon select Users and select the user that you wish to edit Select Restrictions tab You will be presented with several functions which can be selected or removed via a tick box. For […]

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