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KB Home / Tax Return Production / How do I declare equalisation payments from a unit trust?

How do I declare equalisation payments from a unit trust?

Article ID: 2069
Last updated: 04 Aug, 2020

You can declare equalisation payments from a unit trust in SimpleStep or HMRC Forms mode.

SimpleStep mode

  1. Go to Capital Gains Tax > Asset Details.
  2. Enter the equalisation payment marked as Trust: gain attributable to you (From the drop down box).
  3. Continue to complete the information relating to the gain.

HMRC Forms mode

  1. Go to Capital Gains > CG1.
  2. Enter the total gain in box 3.
  3. Go to CG2.
  4. Enter the required information in boxes 30 to 37.
  5. Enter any additional information in box 38 if needed.
  6. Click on Check & Finish.
  7. Click on Attach and Add PDF.
  8. Click OK to the pop-up message relating to the attachment name.
  9. Browse to where the PDF file is saved and click on Open.

Please Note: The equalisation payment itself is not treated as income but as a return on the initial price paid. Therefore, when you calculate the gain made, you have to deduct it from the acquisition cost of the original investment.

Article ID: 2069
Last updated: 04 Aug, 2020
Revision: 8
Views: 4871
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Also listed in
folder Tax Return Production -> SA100 Individual Return

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