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How to understand your statement

Your Statement of Account shows many items of information. An explanation is given below of those that affect you. 

Types of Transactions | Security Holdings | Tax Vouchers

Account title
 
This is shown at the top of the statement and gives you case name, case number and Court Funds Office account number.

Transaction details
 
The statement is a full list of all the transactions occurring on your account over a particular period. There are six columns of information. These are as follows: 

  1. Date      
    Shows the dates on which transactions have taken place. We use these dates to calculate interest
  2. Transaction description 
    This is a list of all the transactions on your statement of account
  3. Transaction Cash Amount 
    Gives the value of each transaction
  4. Cash Balance   
    Shows the balance on the account that you don't receive interest
  5. Basic Account (BAS) 
    This shows the balance on the account that you receive a lower rate of interest
  6. Special Account    (SPL) 
    This shows the balance on the account that you receive the higher amount of interest

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Types of Transactions

There are many different types of transactions details.  Those most commonly found (followed by their abbreviation) are:

  1. Lodgments    
    Lodgments are payments into the account. This is shown on the statement by money moving from the cash balance to the account where it gains interest (Lodgment followed by Place to SPL)
  2. Interest  
    Interest is credited every six months – on the last Friday in May and November (SPL Interest)
  3. Withdrawals 
    This shows withdrawals of monies from the Special account onto the cash account. This will show as two separate transactions, because withdrawals are made up of two parts - both capital and interest    (Withdrawal SPL & SPL Interest) 
  4. Cheques 
    Cheques are paid from the cash account.  You will also find a brief description of the payee (Cheque)
  5. Dividends 
    This shows the dividend earned on any securities held on the account. It gives the description and amount of the holding (Dividend)
  6. Carry overs (Court of Protection accounts only)
    This shows amounts carried over to the COP fee account in payment of an outstanding annual administration fee. (Cash c/o     28850002B) 
  7. Purchase security(ies) for a person's account
    This will show the type of security purchased, the number of shares purchased and the cost of the shares 
  8. Sale of security(ies) held on account
    The statement also gives description of the holding, the amount sold, and the proceeds     of sale

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Security Holdings
 
This shows all the stock and shares held in court on behalf of the account holder. The quantity of securities is displayed in the column to the right of their individual titles.  Under “current holding” in the next column, you will find the total dividend income for each holding in the Tax year.

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Tax Vouchers

Details of interest and Dividends (if the person holds securities in Court) are provided and referred to as Tax Vouchers. Please retain these and present them to the Inland Revenue upon completion of the person's Tax return. There are 3 different types of Tax vouchers issued:

  1. Half yearly interest: These will show the interest credited to the
    person's Special account in May and November or, if monies held on the basic account at the end of March & September.   All interest is paid gross
  2. Dividend Vouchers: These show the amount and breakdown of every Dividend  credited to the person's account over a given period where securities are held
  3. Interest payable on withdrawal: When payments are made from a person's account, the withdrawal is made up of a certain amount from capital and the remainder from accrued interest.   For each financial year (6 April – 5 April) that the tax vouchers cover, one voucher will give the total of the interest used to make any payments from a specific account during that time

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