Asset Rebate

JodieR

Client has an investment portfolio - I'm quite happy with declaring the dividends and interest on his tax return, but he's also received money from an 'Asset Rebate' - he receives about £50 per month (amounts vary slightly each month), it looks similar to a unit trust and tax is deducted at 20%. Does anyone know which box(es) this goes in?

MarieNoelle

Hi Jodie,
I think an "asset rebate" is cash back to the client from the asset management company.
For tax treatment have a look here
http://citywire.co.uk/new-model-adviser/hmrc-issues-fresh-guidance-on-taxation-of-rebates/a746656

If it's a taxable annual payment I'd probably put in "Other taxable income" (Box 16).