Article ID: 3037
Last updated: 07 Jun, 2023
HMRC Filing Exclusion 102 will affect taxpayers who have a Chargeable Event Gain (CEG) with notional tax, in the higher rate band and dividend income. The personal allowance is being allocated against the CEG when it would be more beneficial to allocate it against the nil rate dividend income. Below is an example of how the calculation is currently working and a revised calculation showing how the personal allowance could be used more beneficially.
If you have a scenario which applies to this exclusion, a paper return should be filed together with a Reasonable Excuse form which refers to the exclusion number. To print your tax return with a Reasonable Excuse form:
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