UK tax forms

Double Tax Relief (DTR)

This section is designed to analyse tax-relevant information related to relief against double taxation, which gives credit for tax charged in a non-UK jurisdiction.

Double Tax Relief

Use this sheet to review and/or adjust the calculated double tax relief (DTR). This sheet is optional and can be developed separately for each accounting period.
note
  • There is a column for manually adjusting the automatically calculated relief available.
  • This sheet automatically inserts a column with losses attributable to individual businesses, which are used in the calculation of net income for the purpose of the DTR calculation.

Completing the Sheets

Double Tax Relief
This sheet is automated. Figures relevant to calculating DTR attributable to accounting periods are linked from the
Foreign income
,
Chargeable disposal
 or
Overseas PE summary
 sheets.
  • Amounts analysed on the
    Foreign income
     sheet are linked to the relevant section on the
    Double tax relief
     sheet depending on the income category selection. Only those
    Foreign income
     items that were subject to foreign withholding tax are linked here.
  • The
    Foreign chargeable gains
     section on the
    Double tax relief
     sheet lists relevant information from each
    Chargeable disposal
     sheet where you added amounts of foreign tax suffered and provided that you decided not to deduct foreign tax on the
    Chargeable disposal
     sheet relevant to the disposal.
  • Trading income from foreign permanent establishments is linked to the foreign trading income section of the
    Double tax relief
     sheet from the
    Overseas PE summary
     sheet. It will be treated similar to other foreign trading income linked here from the
    Foreign income
     sheet.
Amounts of DTR for the accounting period are calculated automatically considering the net income attributable to each linked item and the amount of tax suffered in the UK and the foreign jurisdiction. Amounts of DTR are calculated individually for each item and are capped so they cannot exceed the amount of UK tax payable on each item.
Total DTR calculated on the sheet is used on the
Tax calculation
 sheet as a deduction from tax due. It is also used on the
Corporate interest restriction
 sheet as part of the Tax-EBITDA calculation.

This article applies to:

  • PRODUCT: ONESOURCE Corporate Tax