Click on the ‘edit’ button on the Adjustments to trade profit tab, a new window will open which needs to be completed. Use this grid to enter non-exempt dividends & distributions from non-UK resident companies. This income must be excluded from trading profits and taxed separately.
- ‘Description‘ Enter a brief description of the income.
- ‘Per accounts‘ Enter the amount that has been included as income in the accounts. This amount will be deducted from trading profits.
- ‘Taxable‘ Enter the amount that is taxable as overseas non-exempt dividend income. This figure will default to the figure entered in the “per accounts” column but can be changed.
- ‘HMRC Category‘ Select the required HMRC category for the income. (Non-exempt overseas income other than dividends and distributions should not normally be entered here).
To delete a line from the grid, click the ‘trash can‘ button at the end of the line.
Click ‘Save changes‘ to update the figures to the adjustments to trade profit tab.