Anything to declare?

03 March 2015 / Mark Wallace , Mike Down

Issue: 4491 / Categories: Comment & Analysis , Admin , Self assessment

The inconsistent criteria for completing a self assessment return

KEY POINTS

Is the requirement to complete a self assessment tax return applied consistently?
Penalties may be issued for unsubmitted returns even when there is no liability or a form R40 has already
been filed.
HMRC’s guidance on when and to whom a return should be issued.
Should the form R40 be given the same status as a self assessment tax return?
Should the parameters for filing a return be amended or made compulsory for all?

At a recent meeting with a company director we were asked “Why am I having to complete a tax return? There’s no point.”

In his mind his tax affairs were simple and straightforward: he had one employment received dividends from his company no benefits in...

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03 March 2015 / Mark Wallace , Mike Down

The inconsistent criteria for completing a self assessment return

KEY POINTS

Is the requirement to complete a self assessment tax return applied consistently?
Penalties may be issued for unsubmitted returns even when there is no liability or a form R40 has already
been filed.
HMRC’s guidance on when and to whom a return should be issued.
Should the form R40 be given the same status as a self assessment tax return?
Should the parameters for filing a return be amended or made compulsory for all?

At a recent meeting with a company director we were asked “Why am I having to complete a tax return? There’s no point.”

In his mind his tax affairs were simple and straightforward: he had one employment received dividends from his company no benefits in...

Only subscribers may read the full article