Tax return (United Kingdom)

Tax return (United Kingdom)

In the United Kingdom the term tax return is used to refer to the document which must be filed with the HM Revenue & Customs declaring liability for taxation. Different bodies must file different returns with respect to various forms of taxation. The three main returns currently in use are:
*SA100 for individuals paying Income Tax‎
*CT600 for companies paying Corporation Tax
*P35 for PAYE deductions by employers

Income tax self-assessment

Most employees paying tax under the PAYE system are not required to file a tax return, because the PAYE system operates to withhold the correct amount of tax from their wages or salaries.

A tax return is required for

*the salaried employee, who claims exemptions, and others with income from which no tax is withheld at source (e.g. rental income)
*those who pay tax at the higher rate (40%, or 32.5% for dividend income)
*managing directors of companies to which has more that 35% shares
*employees and pensioners with more complex tax affairs

The form currently in use is the SA100 series, complete with additional sheets for particular sources of income. The process must be completed by 31 January following the end of the relevant tax year. Taxpayers have the choice of assessing the liability themselves, for which a number of working sheets are supplied by HMRC, or completing only the details required for assessment, in which case the return must be filed by 30 September.

Corporation tax self-assessment

A company must file a return, using form CT600, and assess its liability to tax, normally within 12 months of the end of its accounting year.

PAYE deductions

At the end of the tax year, after 6 April, employers operating PAYE schemes must report to the Revenue their employees, the total that has been paid to them, and the amounts of income tax and national insurance contributions (NICs) that have been deducted from those payments. This is done on form P35.


* [| HMRC self assessment pages for individuals]
* [| HMRC pages on company tax returns]

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