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.