Income from trusts or settlements

This section is accessed via the data input tab within that tax return and is used to enter income from trusts and settlements.

  • ‘Name of trust’ Enter the name of the trust.
  • Trust UTR‘ Enter the Unique Taxpayer Reference for the trust.
  • Address‘ You may enter the address of the trustees for your own information if required.
  • ‘Trustees not resident in the UK for tax purposes?’ Tick the box if the trust is a non-resident trust for tax purposes. If the trust is non-resident and the income is taxable, tick this box and enter the income into the section Other overseas income and gains, unless the trust is settlor-interested.

Discretionary income payment from UK resident trust

  • Net amount’ Enter the net amount of discretionary income from trusts that are not settlor-interested.
  • Total payments from settlor-interested trusts’ Enter the payments if the trust is settlor-interested.

Non-discretionary income entitlement

  • Net amount of non-savings income’ Enter the amount from box 3 of the R185(T).
  • Net amount of savings income’ Enter the amount from box 4 of the R185(T).
  • Net amount of dividend income’ Enter the amount from box 5 of the R185(T).

Relief for Residential finance costs

Relief is entered in a grid format

  • Description of property business’
  • Profits’
  • Finance costs
  • Unrelieved costs b/fwd
  • Available for relief
  • Unrelieved costs c/fwd

Additional text note for Tax Return

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