Trust management expenses: IIP trusts: IIP beneficiaries: tax law: form R185 (Trust Income)
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||£800.00||£200.00|
|Box 4 savings income||£550.00||£137.50|
The beneficiary uses the information on form R185(Trust Income) to make his or her tax return or to claim repayment.