Accrued Income Scheme - entering negative losses

Article ID: 2965
Last updated: 20 Apr, 2023

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 the entry box 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.

Article ID: 2965
Last updated: 20 Apr, 2023
Revision: 5
Views: 388
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item HMRC Filing Exclusions and Special Cases 2022/23