Originally posted by Lewis
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SA Tax return
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"See, you think I give a tulip. Wrong. In fact, while you talk, I'm thinking; How can I give less of a tulip? That's why I look interested." -
On another note regarding the 'service company' figure. Going by the final calculation done online, it breaks down the "Income" bit at the end. The PAYE total is straightforward, but I did ponder over the Dividend bit. As HMRC added the 10% Tax Credit on, and deemed this as 'income' (even though it it cancelled out again later), in my Box for income derived from service company I did it on <PAYE>+<DIVIDEND>+<10% CREDIT ON DIVIDEND>.
Wasn't too sure about this, but I think I did it correctly! Anyway, at least you can edit the online Form now within 12 Months of submission.Comment
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Originally posted by rawly View PostOn another note regarding the 'service company' figure. Going by the final calculation done online, it breaks down the "Income" bit at the end. The PAYE total is straightforward, but I did ponder over the Dividend bit. As HMRC added the 10% Tax Credit on, and deemed this as 'income' (even though it it cancelled out again later), in my Box for income derived from service company I did it on <PAYE>+<DIVIDEND>+<10% CREDIT ON DIVIDEND>.
Wasn't too sure about this, but I think I did it correctly! Anyway, at least you can edit the online Form now within 12 Months of submission.
QB.Comment
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Originally posted by QwertyBerty View PostMmm, my understanding was the dividend figures do not include the tax credit (on the paper form at least...)
QB.
Nothing is simple in the world of HMRC is it! I guess it is how you interprete "Derived Income anywhere on this Form" - I took it as meaning the Total Income shown as the Input to the whole 'SA form' - which isn't quite the same as the income I actually received in my bank after all Taxes etc.... But they didn't ask that did they - or did they!Last edited by rawly; 18 July 2008, 13:26.Comment
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Originally posted by rawly View PostI ended up judging it on the fact that PAYE is the GROSS figure, so the Dividend must be the same surely! Plus the auto calculation from HMRC themselves added on the 10% as Income. Anyway, be interesting to hear other people's thoughts on this. I can still change it anyway.....!
Nothing is simple in the world of HMRC is it!
QB.Comment
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Just had a quick look, the dividend you put in the paper form should not include the tax credit.
QB.Comment
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