How to check your income tax
Article Abstract:
The UK Inland Revenue includes a tax calculation guide with tax returns. This varies according to whether the individual taxpayer made a taxable capital gain, received taxable lump sums from life insurance or an employer, received both of these or received neither of these. Tax liability is calculated using a person's income before tax, with tax already paid being taken into account after the initial calculation has been made. It is worth checking tax liability calculated by the Inland Revenue, as mistakes do occur.
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Subject: Consumer news and advice
ISSN: 0043-4841
Year: 1997
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Self-assessment
Article Abstract:
The new system of self-assessment of tax liabilities which come into force in the UK in the 1996-1997 tax year will make the taxpayer more responsible for providing all the information required to assess tax. Taxpayers will be able to calculate their own tax, although the Inland Revenue is still prepared to do this if people prefer. Even if the Inland Revenue does still calculate the tax, it is vital to provide all the necessary information.
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Subject: Consumer news and advice
ISSN: 0043-4841
Year: 1996
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How to check a notice of assessment
Article Abstract:
A notice of assessment from the Inland Revenue can be difficult to understand, especially if tax inspectors adjust the bands on which various rates of tax are paid. The main sections are income from employment, pensions and benefits, allocation of allowances and rates of tax, amount chargeable to tax and allowances. The explanation section gives additional information.
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Subject: Consumer news and advice
ISSN: 0043-4841
Year: 1996
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