SolvedTSEM8370 | Trust management expenses: IIP trusts: IIP beneficiaries: tax law: form R185 (Trust Income)
From HM Revenue & Customs · Trusts, Settlements and Estates Manual
In the example in TSEM8365 the entries on the form R185 (Trust Income) given by the trustees to the beneficiary would be:
| - | Net Amount | Tax paid |
|---|---|---|
| Box 3 non-savings income | £4000.00 | £1000.00 |
| Box 4 savings income | £550.00 | £137.50 |
The beneficiary uses the information on form R185(Trust Income) to make their tax return or to claim repayment.