Self assessment
Discussion
Does everyone in the 40% tax bracket get to do one?
My daughter hasn't been asked to complete one for 2006/7 even though she was employed throughout that period and earning at the higher rate.
Should she have been asked to do a SA, and if so will she now be penalised for not completing?
My daughter hasn't been asked to complete one for 2006/7 even though she was employed throughout that period and earning at the higher rate.
Should she have been asked to do a SA, and if so will she now be penalised for not completing?
Possibly.
If she has any other income outside of her wages (such as bank interest/building society interest, rental income, self-employed income) then she should complete a SA return because if she doesn't, she will either be paying too little tax or none at all on this extra income. This is actually a criminal offence.
Conversely, if there are any allowances she would like to claim outside of her employment - such as additional mileage claims, pension contributions or charitable donations, then completing a SA return is the best (and legal) way of ensuring these allowances are claimed properly.
If she has any other income outside of her wages (such as bank interest/building society interest, rental income, self-employed income) then she should complete a SA return because if she doesn't, she will either be paying too little tax or none at all on this extra income. This is actually a criminal offence.
Conversely, if there are any allowances she would like to claim outside of her employment - such as additional mileage claims, pension contributions or charitable donations, then completing a SA return is the best (and legal) way of ensuring these allowances are claimed properly.
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