Chapter SAM100060
| Published date | 08 April 2016 |
| Record Number | SAM100060 |
| Court | HM Revenue & Customs |
| Issuer | HM Revenue & Customs |
An SA record is required where an individual has either completed form CWF1 or SA400 or SA401 or SA402 or SA1 and/or they fall into a category below. (See SAM100001 for general information on these forms).
For tax years up to and including 2015-16
- Is receiving income from letting any property or land that exceeds £10,000 gross, irrespective of the amount of expenses to be set off, or if the net amount is more than £2,500
- Is an employee or pensioner and is in receipt of savings or investment income (from which tax has been deducted) of £10,000 or more (before tax)
For tax years 2016-17 onwards
- Is receiving income from letting any property or land that exceeds £10,000 gross, irrespective of the amount of expenses to be set off, or if the net amount is more than £2,500
- Is receiving income from savings and investments of £10,000 or more before tax
- Is receiving income from dividends of £10,000 or more before tax
For tax years 2017-18 onwards
If customers qualify for the Trading Income Allowance and have turnover up to £1,000, they would not usually have to register for self-assessment.
However there are four groups of customers who should register as self-employed and be set up in Self-Assessment
- Customers who want to pay voluntary Class 2 National Insurance contributions for 2017-18 to build entitlement to contributory benefits like the State Pension.
- Customers who want to preserve their record of self-employment for example to support an application for Maternity Allowance.
- Customers who incur childcare costs and would like to claim Tax Free Childcare based on their self-employment income.
- Customers who are Sub contractors and want to claim back their CIS payments
If customers qualify for the Property Income Allowance and have turnover up to £1,000, they would not usually have to register for self-assessment.
However non-resident landlords who want to claim back tax paid under the non-resident landlord scheme would have to register for self-assessment.
For all years
- Is receiving income from self-employment (this includes foster carers) or a partnership source (partnership returns will also be required)
- Is a Minister of Religion (of any faith or denomination)
- A Sharefisherman
- Is...
To continue reading
Request your trial