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Article ID: 2965
Last updated: 04 Jun, 2024
If you have received losses from the Accrued Income Scheme and deeply discounted securities, unfortunately, according to HMRC Exclusion 4 (see link to HMRC Filing Exclusions and Special Cases 2022/23), a negative amount cannot be entered into box 2 of the Lloyds Pages (LU1). Please note, this has been an exclusion since 2020/2021 tax year and it is still applicable for the current tax year. To make entry of profits please navigate to the following boxes: HMRC Forms Mode > Lloyds > Page 1 > Box 2 'Profits from Accrued Income Scheme and deeply discounted securities'. SimpleStep Mode > Other income > Lloyds > UK Bank and Building Society interest > 'Adjustments under the accrued income scheme'. If you need to enter a negative amount in this box, you will not be able to file online and should contact Lloyds Underwriters, Unit S1278, Newcastle upon Tyne, NE98 1ZZ for advice. If you have losses from a scheme that is not a Lloyds scheme, according to HMRC's manual SAIM4120 the loss has to be carried forward until there is a profit to offset it against. To make entry of profits for non-Lloyds schemes, please navigate to the following boxes: HMRC Forms Mode > Additional information > Page 1 > Box 1 'Interest from gilt-edged and other UK securities, deeply discounted securities and accrued income profits'. SimpleStep Mode > Other income > Any other UK interest.
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