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SA100 Individual Return
Which self employment form should I complete?
There are two versions of the Self Employment pages of the tax return – the short and the full form. The short form is a simplified version of the full form with fewer entry boxes. You must use the full form if any of the below statements are true: turnover is more than £85,000 (or would...
rating 28 Dec, 2018 Views: 1555
Do I need to break down my self employment expenses?
How you report your self employment expenses depends on annual turnover. If turnover is £81,000 or more, you need to provide a breakdown of expenses. If turnover is less than £81,000 (or would be in a full year), you can report the net amount of allowable expenses as a single figure in the...
rating 02 Mar, 2018 Views: 1464
Age-related allowance
In previous years, if you were 65 or over, you may have qualified for an additional age-related allowance on top of your personal allowance. Unfortunately for 2016/17, there is no additional allowance which can be claimed. See the table below for figures for 2016–17 and previous tax years. ...
rating 29 Mar, 2017 Views: 1396
Class 2 when Self Employment / Partnership ceased or started part way through the year
If the Lloyds / Self-Employment / Partnership started trading in the middle of the tax year or ceased trading part way through the tax year, please complete the applicable entries listed below. Using SimpleStep mode: Go to Working out your tax > Class 2 & Class 4 NICs maximum charge. ...
rating 22 Sep, 2017 Views: 1351
Deferring payments on account due 31 July 2020 due to COVID-19
Deferring payments on account during 2020 Individuals registered for self assessment, who will have difficulties paying the second payment on account due by 31 July 2020 due to the coronavirus, have the option to defer payment. HMRC have stated that they will not charge interest or penalties...
rating 15 Jun, 2020 Views: 1313
What do I do if a provisional field validation message appears but there are no provisional fields?
If you receive a provisional field validation message when there are no provisional fields, you need to un-mark the return as provisional. SimpleStep mode (SA100) Select Other Information from the left-hand menu. Un-tick the second box 'Any of the figures you have given are provisional or...
rating 24 Mar, 2020 Views: 1301
Where do I enter any credit already on my HMRC account?
Enter any credit already on your HMRC account in SimpleStep or HMRC Forms mode. SimpleStep mode Go to Working out your tax > Payments on account. Enter the credit amount in the box Please also enter here any other payments or credits towards... HMRC Forms mode Go to Tax Details. ...
rating 03 Aug, 2020 Views: 1239
Do I receive tax relief for my Gift Aid payments?
When you make a Gift Aid payment you have to state that you pay enough tax for the charity to claim back the basic rate of tax paid on the donated amount. If you pay the basic rate tax, you won't receive any tax relief. If you're a higher rate taxpayer, you'll receive additional tax relief...
rating 02 Mar, 2018 Views: 1118
Capital Gains Tax- Share Disposals
Unfortunately TaxCalc cannot deal with transactions where you have purchased shares at different prices at different times (including the 30 days, bed and breakfast etc.) also known as Section 104 holding. This means that you will need to complete the Capital Gains Tax section in HMRC Forms mode...
rating 22 Sep, 2017 Views: 1114
Worked example of a business that has changed its accounting year end - Basis Periods
Change of accounting date When there is a change of accounting date, the basis period for the tax year may differ from the accounting period, although this will depend on whether the accounting period has been shortened or lengthened. A shorter accounting period may mean that overlap profits will...
rating 24 Mar, 2020 Views: 1097
When do I make payments on account?
You'll usually have to make two payments on account for the current year's tax: One by 31 January in the current year. One by the following 31 July. Each payment is half of the tax due for the previous year. For example, for the tax year 2019-20 (6 April 2019 to 5 April 2020), the first...
rating 04 Aug, 2020 Views: 1091
I can't import partnership profits to individual return
If you can't import partnership profits to an individual return, make sure that the two are linked in the partnership return: Launch Practice Manager. Select partnership return. Right click; ​​​Open In> Tax Production> Open. Click on Add New Partner. Enter details for the new...
rating 07 Feb, 2020 Views: 1061
How to defer class 4 NIC?
Deferring Class 4 NIC From 2015/16, you are no longer able to defer Class 4 NIC. HMRC have changed the rules and if you wish to find out further information, please visit the HMRC website: Defer your National Insurance. However, you may be able to claim a refund for previous tax years. If you...
rating 14 Mar, 2019 Views: 956
Where do I enter tax deducted for share schemes?
Enter tax deducted for share schemes in the employment pages. Don't complete the share scheme box for taxable amounts that your employer has fully taxed. Normally these amounts are already included in your P60 (or P45 if you've left employment) and these are included in the employment pages. ...
rating 13 Jul, 2015 Views: 950
HMRC toolkits to help reduce errors in tax returns
HMRC publishes a series of toolkits to give guidance on areas where there are frequent errors in tax returns. These toolkits also set out steps you can take to reduce these errors. They are updated every year as required. The toolkits are available on the HMRC website (as PDFs) and cover the...
rating 17 Jun, 2016 Views: 940

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