PAYE130080 - PAYE service income, allowances, benefits and deductions: IABD: trusts, settlements and estates
This information is used by the system when calculating the total income calculation for coding purposes only. It is included in the end of year reconciliation and is treated as Non-coded income.
Item |
Carried Forward |
Trusts, Settlements and Estates at Trust Rate |
NO |
Trusts, Settlements and Estates at Basic rate |
NO |
Trusts, Settlements and Estates at Lower Rate |
NO |
Trusts, Settlements and Estates at Non-payable Dividend Rate |
NO |
Enter any new information on the Details screen which will display
- The item selected
- Trust, Settlements and Estates Amount
- Trust, Settlements and Estates tax deducted
Income entered in box 4.10 and 4.11 of the R40 should be entered in IABD in the field ‘Trusts Settlements and Estates income at the basic rate’.
Note: The gross amount of income should be entered in the relevant income fields.
Trusts, Settlements and Estates at Savings rate
There is no specific field to enter Trusts, Settlements and Estates income at the savings rate. Any trust income
- Which is taxed at the savings rate
And
- Qualifies for the starting rate for savings
- Must be entered in the individual’s investment income as bank and building society interest see PAYE130060 and select the ‘Calculate’ option
Note: Trust income which has been paid without tax deducted at source, should be entered as Untaxed Interest.
You must
- Enter the gross, net and tax figures
And
- Make a note in Contact History
Any trust income which is taxed at the dividend rate and is non-refundable, must be entered in the individual’s investment income as UK dividends.
You must
- Enter the gross, net and tax figures
And
- Make a full note in Contact History