[UK] Dividend Payments RRS feed

  • Question

  • How can I add tax credit amount to information on share dividend payments in portfolio
    Friday, July 8, 2011 10:23 AM

All replies

  • This was a significant oversight on the UK version of Money.

    There appears to be two schools of thought as to how to deal with tax credits,

    1. Make the dividend amount in the account register the net amount and place the Tax Credit details in the Memo field.

        This is what I've always done.

    2. Make two entries in the account register, one for the gross amount and then make an additional entry as a payment to an account such as HMRC with the tax credit amount. To me this seems like overkill.

    It should be remembered that for filling in both the SA102 Full tax return or the SA200 Short tax Return, you only need the net figures.


    Friday, July 8, 2011 2:27 PM
  • Thanks Ashley

    I've been adding the tax credit in the memo field (when I remember) but hoped there might be a better way that would produce the total tax credit in a "report".

    I'll think about your second suggestion, I like the idea but can see confusion arising when I forget how I've been treating the dividends and having to check each one individually for my tax return.

    At least I can stop trawling through the "help" section thinking there must be something set up.

    Monday, July 11, 2011 8:02 AM
  • I agree, there is the possiblity of confusion if you change your recording method part-way through the tax year.

    You could get a total of the tax credits by exporting the Investment Transactions report to excel. The memo field is included by default and a quick use of MID and FIND in an adjacent cell would extract the amount from the "Tax Credit £n.nn" string. Duplicate that formula down the whole column and have a SUMIF at the bottom and hey presto, there's the total.


    Monday, July 11, 2011 9:25 AM