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Foreign income loan relationships |
See Also
DTR Calculations | DTR relief calculations | Foreign income | Loan relationships
Select from the following headings:
Background | Developing the schedule | Completing the Schedule | Standard Sub-Schedules | Carry Forward | Related Errors
This schedule is used to analyse foreign income loan relationships, together with any withholding tax and income tax suffered.
This schedule is developed from the Loan relationships schedule.
Once this schedule has been developed, foreign loan relationships should be entered onto this schedule, rather than the Loan relationships schedule. The data from this schedule automatically links to the loan relationships schedule.
Completing the data entry cells
The column headings corresponds to those described on the Loan relationship schedule however additionally, the user can enter the Foreign tax suffered on each source of foreign income.
Each loan relationship should be entered in a separate row, where details of withholding taxes and income tax suffered can be recorded. The software will calculate the double tax relief due and update the A schedule.
Loan relationship selector flag
This may be found at the foot of the schedule and will allocate the foreign income to the Trade or Non-trade section of the Loan relationship screen.
Deduct foreign tax
A selector flag at the bottom of the schedule allows the user to select relief for foreign tax as a deduction instead of a credit.
Note: The Sheet properties and Row properties dialogs are enabled on this schedule and may be useful when entering data.
This schedule has no standard sub-schedules.
© 2009 Thomson Reuters.