Tax / R185 Question

[T84]

Hello,

I've previously been told by a woman in an HMRC office that I need to fill out a Self Assessment as I am a trust beneficiary, however I'm not sure if this is actually the case as numerous people have told me that I haven't but now that the process is started it cannot be cancelled?

I'm looking at my R185 form and only Box 1 is filled in (Net payments from non settlor-interested UK residents...) does this mean I need to fill a return out or not?

Other than that, I have very simple tax affairs (PAYE employee, no company car, no investments, just savings accounts)...

Any advice appreciated...

[Eric Mc]

Are you a higher rate taxpayer?

[T84]

Nope!

[anonymous-user]

Are you a trustee?

http://www.hmrc.gov.uk/sa/need-tax-return.htm

basically, if they want you to fill one in, they can make you

[Eric Mc]

If you receive income and this income isn't taxed at source (or only taxed at Basic Rate if you are a Higher Rtae Taxpayer), you very probably need to fill in a Self Assessment tax return.

I think far more people should fill in SA returns.

The recent fiasco with the PAYE system (which is still ongoing) is proof that assumming that HMRC and Employers'/Pension Providers can get it right is quite rash.

Only the day before yesterday I ran an exercise for a Basic Rate Taxpayer who we worked out is owed a tax refund of £4,500 - and HMRC had already refunded hin £2.500 in addition to this.

So, under the PAYE system he had overpaid over £7,000 i.e. over £1,000 each tax year - purely because his PAYE coding on one of his pensions was not correct.

[T84]

Argh, so it does look like I need to do one, I'll need to get it in ASAP because I'm late