Common Tax Descriptions

About Common Tax Descriptions

It speeds up data entry because you only need to enter the description once. For example, you can add a company name to the UK Companies tab within the Common tax descriptions tab, and then you can select this company name from a pull-down on the relevant data entry window. Thus, saving you from having to type the same company name several times.

You can use the Common tax descriptions tab to add descriptions for the following:

• UK Companies
• Foreign Companies
• UK Unit Trusts
• Share Descriptions
• Lloyds funds
• Cash Payments
• Fix Interest Stocks

The descriptions created are available globally.

Open the Common Descriptions tab

Select File > Maintenance > Tax Settings > Personal Tax > Common Descriptions. The Common tax descriptions tab appears.

Add a Common Tax Description 

1. Select File > Maintenance > Tax Settings > Personal Tax > Common Descriptions. The Common tax descriptions tab appears.
2. Click the UK Unit Trusts tab.
3. Click in the row below UK Unit Trust Name and type in the description.
4. Press [Enter] to save and add additional descriptions, or click OK to save and close the Common tax descriptions tab.

Delete Common Tax Descriptions 

1. Click on the relevant tab.

2. Click on the description that you want to delete.

3. Click the Delete button.