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Posted Sat, 23 Mar 2024 10:02:18 GMT by LemonTop
I'm the executor of an estate and also a beneficiary thereof. How should I complete form R185 statement of income from estate (specifically box 17 - savings income) where the amount of interest received by the estate is less than £500? I understand this does not need to be reported to HMRC, but because of this, no tax would have been taken off. Should I just complete box 17 with the gross amount?
Posted Wed, 27 Mar 2024 07:34:12 GMT by HMRC Admin 25 Response
Hi LemonTop,
You enter the net amount of savings income on the form R185.
Self assessment will gross this up for you, when you complete your tax return trust page.
Thank you. 

 

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