Self Assessment Question
Options
BMAC
Registered Posts: 5 New contributor 🐸
Hello,
I am wondering if you can help. Im not an MIP but am looking to draw on your extensive knowledge. I have a friend who has asked me to help with there SA tax return. Their year end is 30 Sept'13 so I understand that is it the figures from that period that will be used on the 13/14 tax return. My friend has received a number of PPI refunds between January 2013 & February '13. should they have been dealt with on his previous tax return 12/13 since this was personal income he earned within that year?
I am wondering if you can help. Im not an MIP but am looking to draw on your extensive knowledge. I have a friend who has asked me to help with there SA tax return. Their year end is 30 Sept'13 so I understand that is it the figures from that period that will be used on the 13/14 tax return. My friend has received a number of PPI refunds between January 2013 & February '13. should they have been dealt with on his previous tax return 12/13 since this was personal income he earned within that year?
0
Comments
-
Personal income in Jan/Feb 13 should have hit the 12/13 tax return, yes.
PPI advice from HMRC - http://www.hmrc.gov.uk/manuals/saimmanual/saim2105.htm
Essentially, the compensation is exempt anyway, but any interest received may have been paid gross and therefore have tax due.0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 18.9K For AAT students
- 267 NEW! Qualifications 2022
- 147 General Qualifications 2022 discussion
- 9 AAT Level 2 Certificate in Accounting
- 43 AAT Level 3 Diploma in Accounting
- 65 AAT Level 4 Diploma in Professional Accounting
- 8.9K For accounting professionals
- 23 coronavirus (Covid-19)
- 274 VAT
- 92 Software
- 274 Tax
- 138 Bookkeeping
- 7.3K General accounting discussion
- 194 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 352 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 590 Job postings
- 17 Who can benefit from AAT?
- 36 Where can AAT take me?
- 44 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 65 AAT membership