Knowledge Base - SA100 Individual Return

SA100 Individual Return

	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...
	02 Mar, 2018 Views: 2002

	Restricted Finance Costs from Property Income Restricted Finance Costs from Property Income From 6 April 2017, new rules were introduced to restrict deductions from property income for finance costs for residential properties for individuals . The measure was introduced is to restrict relief for finance costs to the basic rate of income tax...
	29 Mar, 2022 Views: 1967

	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 2023-24 (6 April 2023 to 5 April 2024), the first...
	21 Mar, 2024 Views: 1857

	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 Payments on...
	29 Mar, 2022 Views: 1809

	How do I carry back partnership losses? To carry back a partnership loss for the current year to a previous year, you need to make a manual adjustment to your SA100 tax return for the year in which the loss occurred. You don't need to re-submit your return for the previous year and this cannot be done via the SA800 tax return. To...
	01 Aug, 2022 Views: 1806

	Claiming relief on P2P loans To claim relief on peer-to-peer (P2P) loans for the current tax year (2023/24), you will need to make a manual reduction before entering figures onto the return. Please see the guidance published by HMRC (Income tax relief for irrecoverable peer to peer loans guidance) for more information....
	21 Mar, 2024 Views: 1787

	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'. ...
	23 Mar, 2021 Views: 1776

	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...
	07 Feb, 2020 Views: 1722

	How do I import data from SA800 to SA104 Partnership Pages (Practice User) If you're completing an Individual return where you have also prepared a partnership return, you can import the data into the SA104 pages in the tax return by following these steps. Firstly, you need to ensure that all of the required data is included within Practice Manager. Please check that...
	24 Sep, 2024 Views: 1635

	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. ...
	06 Jun, 2024 Views: 1631

	Class 2 NIC from 2022/23 - small profits threshold and voluntary contributions Changes to Class 2 NIC thresholds Prior to the 2022/23 tax year you needed to pay Class 2 NIC if your profits were above the Small Profits Threshold. For 2022/23 onwards, you pay Class 2 NIC if your profits are above the Lower Profits Limit (which is £11,908 in 2022/23). When can I pay...
	14 Jun, 2023 Views: 1621

	HMRC Filing Exclusions and Special Cases 2021/22 HMRC Filing Exclusions 2021/22 Exclusions have arisen due to the previous introduction of additional allowances and bands for certain types of income, making the calculation of the tax liability more complex. HMRC systems expect our software to match their method of calculation in order for the...
	20 Apr, 2023 Views: 1600

	How do I import joint income between two tax returns (Practice User)? You can import income from one return to another by following these steps: Open up an SA100 tax return. Select Joint income importing from the left-hand menu. Select Import joint data. Browse and search for the client you want to import the data from. Click on Select. Select the tax return...
	11 Aug, 2015 Views: 1567

	HMRC Filing Exclusions and Special Cases 2020/21 HMRC Filing Exclusions 2020/21 Exclusions have arisen due to the previous introduction of additional allowances and bands for certain types of income, making the calculation of the tax liability more complex. HMRC systems expect our software to match their method of calculation in order for the...
	20 Apr, 2023 Views: 1565

	How do I apply the Scottish tax rate to my return and what impact does this have? When using TaxCalc, the tax return should automatically have the tax rate applied based on the postcode of the address on the return. Therefore the return will automatically apply the Scottish rate if there is a Scottish postcode. If this doesn't happen, please ensure that you are running the...
	21 Mar, 2024 Views: 1526