Foreign Income

Foreign Income is located within the Foreign Income Summary section of the Data Navigator.

To access the detailed analysis, enter a Description and a Details hyperlink will appear in the Details column to access the detailed analysis.

Description - enter a description for the source of foreign income

Type of source - select the Type of income received,either Non-exempt distribution, Investment income or Miscellaneous income

Foreign Tax suffered - enter an amount of foreign tax suffered on this source of income

Claim as a deduction - tick the box if the foreign tax suffered is to be claimed as a deduction against the income

B/fwd - enter an amount of  income b/fwd from a previous period of account. This will be automatically populated when rolled forward from a previous period in CCH Corporation Tax.

Gross per accounts - enter an amount of gross income per the accounts

Relieved by deduction - this will be calculated by the system if you have selected to claim the foreign tax suffered by deduction.

Net income - Calculated by the system and is the result of Gross per accounts minus amount of foreign tax relieved by deduction minus C/fwd.

Taxable - enter an amount of foreign income deemed as taxable in the period.

C/fwd - enter an amount of income to be carried forward.

Once all rows of income have been completed, enter the total amount of Foreign tax Suffered and Foreign tax set off.