Topic results Investments

CCH Personal Tax
Other UK Investment Income
This document outlines the procedure for entering other UK Investment Income, excluding dividends, in a financial record. Users must open the relevant section, select a category from a dropdown menu, and provide details such as the transaction date, quantity, amount received, and whether it was paid gross. It highlights that tax amounts cannot be entered if "Paid Gross" is selected and instructs to save the information upon completion. Additionally, it notes that imported data from CCH SecTAX cannot be modified within CCH Personal Tax.
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CCH Personal Tax
Subscriptions for Venture Capital Trust Shares
The document outlines the concept of Venture Capital Trusts (VCTs), which allow individuals to invest in high-risk trading companies and benefit from income tax and capital gains tax relief, as well as exemption from corporation tax on gains. It provides a step-by-step guide on how to open subscriptions for VCT shares, including entering necessary details like the trust name, amount paid (up to £200,000), and the date of issue. It also advises keeping VCT certificates for potential HMRC requests.
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CCH Personal Tax
Qualifying Investments
This document outlines the process for claiming tax relief for gifts of qualifying investments, specifically shares and real property, made to UK charities. It details the steps to record these transactions, including selecting the investment type, entering the charity's name, and specifying the market value of the gift. It highlights the requirement to account for incidental disposal costs and any benefits received from the transaction, and concludes with instructions to save the entries. The relief is in addition to capital gains tax exemption on such donations.
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CCH Personal Tax
Other UK Investment Accrued Income
The document outlines the steps for adding Other UK Investment Accrued Income, specifically for accrued income from Scheme securities. Key actions include selecting a source, indicating transaction type, and providing details such as transaction date, interest period, quantity, amount received, and tax deductions. A specific note emphasizes that the choice of transaction type and the 'Paid gross' checkbox affects the ability to enter tax deductions. After completing the information, the user must click 'Saved' to finalize the entry.
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CCH Personal Tax
Non-Qualifying Distributions
This document explains non-qualifying distributions and loans written off in financial reporting. Non-qualifying distributions refer to certain securities or bonus issues that, while taxable, incur a lower tax rate. Loans written off by close companies also count as income unless the taxpayer is at the basic tax rate. The document provides guidance on how to enter details for both non-qualifying distributions and loans written off in a specific reporting section, including step-by-step instructions for inputting data and the required fields.
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CCH Personal Tax
Income from UK Securities
This document provides a step-by-step guide on how to enter income from UK securities for tax returns. Users can manually input data or utilize the FTSE350 data feed for automation. Instructions include selecting the relevant icons, searching for companies using their ISIN codes, entering details like quantity and disposal dates, and reviewing postings before finalizing submissions. The process ensures that dividends and distributions are accurately recorded for tax purposes.
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CCH Personal Tax
Community Investment Tax Relief
This document provides step-by-step instructions for completing the Community Investment Tax Relief tab. It outlines how to enter the name of the Community Development Finance Institution (CDFI), report current and previous investment amounts, and include the issue date for the CDFI. Users are guided to save their entries upon completion.
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CCH Personal Tax
Add Overlap Relief on Untaxed Investment Income
This document explains overlap relief, a tax mechanism that prevents the same profits from being taxed in two different years due to overlapping basis periods. It allows taxpayers to deduct overlap profits in subsequent tax years, ensuring that they do not pay more tax than necessary over the life of their business. The document also provides instructions for entering unused overlap profit and the overlap relief used within a given tax year in the Untaxed Investment Income Tab.
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