Enter the details of all Income and Expenditure made by the Estate here. Any description you give to an item on this page will appear in the Estate Accounts.
The system automatically calculates the Tax years based on the date of death.
To enable the automatic production of Forms R185 you must do this when entering taxable income and HMRC payments:
Identify the Estate Income by the way it will be taxed by HMRC and select the Tax Category it belongs to. The Box numbers referred to are the Box numbers on a Form R185. Make sure you enter the income in the Tax Year that it will be taxed.
Remember you must allocate the sums paid to HMRC in Income Tax due on the Estate's Income as an expense in the correct Tax Category and for the correct Tax Year. You should put in the description of the tax payment what it is being paid on, e.g. "Income Tax paid on Savings @ 20%" so that the entry in the Estate Accounts makes sense.