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Overriding the tax deducted from interest causing error 6492/6594

Article ID
ias-10657
Article Name
Overriding the tax deducted from interest causing error 6492/6594
Created Date
5th September 2012
Product
IRIS Personal Tax
Problem
Overriding any tax deducted from Interest/Dividends/Trusts causes the Tax return to be rejected with error 6492 and or 6594.
Resolution
If the tax deducted from the following headings are overwritten then you will get a message stating that the return will be rejected when trying to file online. INTEREST UK Bank Building Society Local Authority Other Deposit Taker Distribution from UK Unit Trust Other Deposit Taker Purchased Life Annuity DIVIDENDS TRUSTS, SETTLEMENTS AND ESTATES The software has been created with the correct calculation for these headings. Therefore if you have received any entries that need to be included under the heading Interest then you need to follow these steps:- 1. Log on to IRIS Personal Tax and select the client. 2. Click Interest then select Government Security 3. Enter the income and the tax deducted at source, click OK then click no to overwrite the tax deducted. EVEN IF YOU DO NOT HAVE ANY GOVERNMENT SECURITY INCOME YOU WILL NEED TO PUT THE ENTRY IN HERE IF YOU HAVE TO OVERRIDE THE TAX DEDUCTED OR THE HMRC WILL NOT ACCEPT THE RETURN. Note income entered here will appear in boxes 1-3 on page Ai1. It will still be treated as interest income but is the only section HMRC allow you to override the tax deducted. If the clients interest statement shows a total which includes both net and gross interest users are required to split these amounts and make separate entry to show the total for net and a total for gross interest. If the above does not provide you with the information to resolve the error that you are receiving then please contact support@iris.co.uk.

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