Andica software - partnership interest problem

How should individual's and the total interest received be entered ?

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My entries of untaxed bank interest result in a box coming up telling me, in effect, that if submitted the Return will fail. It should be very simple and straightforward. The total interest received is £4.00 divided equally between the partner's. Could someone please tell me into exactly which boxes the relevant entries should be made. Thanking you in anticipation. Kind regards.

Replies (7)

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RLI
By lionofludesch
17th Jul 2018 15:36

£4 ? Have you thought about sticking it in trading ?

Don't waste your time for a quid in tax.

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By goldenfawn
17th Jul 2018 17:40

I just think that there must be a way to do it.

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Replying to goldenfawn:
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By goldenfawn
17th Jul 2018 17:44

Also there will later be other client's with considerably more interest to report.

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JCACE
By jcace
18th Jul 2018 09:15

I've encountered problems in the past (not with Andica) where there's a rounding problem between the partnership and individual returns. So if you have say three partners, try entering £3 in the partnership return and see if the problem goes away.
If there's no other investment income, I would stick the interest in Box 7.9A and allocate accordingly.

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By goldenfawn
18th Jul 2018 09:16

There is no rounding problem with exactly £4 divided by two.

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Replying to goldenfawn:
JCACE
By jcace
18th Jul 2018 09:50

And is the £4 partnership interest, or simply interest received on a joint account. If the former, you should be able to enter in box 7.9A, then allocate on the partnership statement and copy to the appropriate boxes in the individual returns. If it's simply joint interest, you could leave it off the partnership return and simply add £2 to each individual's interest.

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By goldenfawn
18th Jul 2018 13:23

Thanks, I think I will just treat the interest as that of the individual's and enter it on their individual Returns.

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