Reports for sections 17 and 18 TMA and ESD

Reporting under sections 17 and 18 Taxes Management Act 1970 and the Reporting of Savings Income Information Regulations 2003

The period 1 July 2005 to 5 April 2006 is the first for which reports under the Reporting of Savings Income Information Regulations (Savings Income Reporting) are required. Many payments which are currently reportable under section 17 or 18 Taxes Management Act 1970 (TMA 70) will become reportable under them instead.

The new format enables paying agents to meet their obligations to report under section 17 or section 18 and Savings Income Reporting at the same time.

Use the links below to view more information on reporting under sections 17 and 18 TMA 70 and Savings Income Reporting.

Background

The European Directive on taxation of savings ('the Directive') is based on exchange of information between tax authorities. The Reporting of Savings Income Information Regulations 2003 (SI 2003/2397, as amended by SI 2005/1539) came into effect on 1 July 2005.

As agreed following consultation on the Directive, the government aims to keep reporting under the scheme as close as possible to the current section 17 and section 18 TMA reporting arrangements.

For more information on the Directive and the regulations see Countering cross-border tax evasion by individuals.

Top 

Reporting formats

2005-06 reporting

The Reporting of Savings Income Information Regulations 2003 came into effect on 1 July 2005.

For the year 2005-06 it may be necessary to report under both section 17 or 18 and under the regulations in respect of one account, where the account holder is resident in a country which is currently a Fully Reportable (FR) country for section 17 or 18 reporting and which is also a Prescribed Territory for savings income reporting. Guidance on how to report in respect of such accounts is given in the Guidance notes and the magnetic media specifications (see Reporting formats).

Some paying agents previously reported interest paid or received in respect of all investors irrespective of whether or not they have an address in an FR country. This facility will be withdrawn from 6 April 2005. For the reporting year 2005-06 we shall expect you to report only those investors with addresses in the UK and other FR countries.

The magnetic media specifications set out the formats and give guidance on making the reports.

The specifications are in PDF format To view a PDF document you must have Adobe Acrobat Reader installed on your computer. To save the notes to your hard drive, right click on the link and choose the save option.

Top 

Guidance notes

These notes provide guidance on how to meet your section 17 or 18 TMA reporting responsibilities. There are separate guidance notes S17 and S18 TMA for 2006-07 and 2007-08 and changes between the years are highlighted in the changes note.

There are also guidance notes on how to meet your savings income reporting obligations under the Reporting of Savings Income Information Regulations (2003).

The notes are not binding and do not affect any person's right of appeal. Nor are they a full statement of the law as it applies, or has applied.

The notes are in PDF format. To view a PDF document you must have Adobe Acrobat Reader installed on your computer. To save the notes to your hard drive, right click on the link and choose the save option.

2007-08

2008-09

Top 

Allowable reporting media

You can make your returns on magnetic media or paper. We will accept data on ½” Magnetic Tape and 3.5” (720k/1.44M) floppy discs or compact discs. You must send magnetic media returns in the format specified by us. See Reporting formats.

If you prefer you can make your report on paper (see Forms).

Top 

Forms

If you wish to make your report on paper instead of on magnetic media you must use the appropriate official form.

The forms are in PDF format. To view a PDF document you must have Adobe Acrobat Reader installed on your computer. To save the forms to your hard drive, right click on the link and choose the save option.

Top 

Guidance notes for completion of forms

These notes give guidance on how to complete the report forms:

The notes are in PDF format. To view a PDF document you must have Adobe Acrobat Reader installed on your computer. To save the notes to your hard drive, right click on the link and choose the save option.

Top 

Spreadsheet for s17/s18 and ESD returns

If you wish to submit your return on spreadsheet instead of paper you should use the spreadsheet template below and complete it in accordance with the guidance notes below.

Use spreadsheet S17 and/or SIR if your institution reference begins with A, B or L.

Use spreadsheet S18 and/or SIR if your institution reference begins with S.

Use either spreadsheet if your institution reference begins with X.

You can change the type of data entered on each line of the spreadsheet.

Other information needed to make reports

If you are reporting interest paid and returned in a currency other than sterling you must also report the SWIFT standard code (PDF 71K) denoting the foreign currency.

When reporting the country of residence for savings income reporting purposes you must use the appropriate ISO country code.

Top 

FR countries

S17 and s18 reporting are normally restricted to investors with addresses in the UK and other FR countries. To view the list of FR countries go to:

Please note that the EU Member States (other than the United Kingdom) stopped being Fully Reportable countries and became Prescribed Territories for the purposes of Savings Income Reporting from 1 July 2005.

We will give six months notice of any change to the list of FR countries.

Top 

Prescribed Territories

Savings Income Reporting will be restricted to investors in the EU and other Prescribed Territories. The list of Prescribed Territories can be found at Appendix 1 of the Guidance notes (RTF 740K).

If the investor declares his/her residence to be in a country other than the EU or other Prescribed Territory and presents a passport or official ID card issued by another member state, please refer to paragraphs 136-139 of Savings income reporting guidance notes (PDF 392K)

Top 

Contact information

Please contact the following for further information.

To request forms please telephone HMRC orderline on Tel 01726 209 024

Making reports (including making test reports) or for advice about how to complete the forms

Eddie Dodd
HM Revenue & Customs
Audit Unit (Information Returns)
St Johns House
Merton Road
Liverpool
L75 1BB

Tel: 0151 472 6129 or 6136
Fax: 0151 472 6124
Email: Eddie Dodd

s17/s18 legislation and what should be reported

Nicholas Wright
HM Revenue & Customs
7th Floor
Wellesley House,
Wellington Road North
Stockport
Cheshire
SK4 1EZ

Tel: 0161 475 2702
Fax: 0161 475 2730
Email: Nicholas Wright

The Savings Directive and Savings Income Reporting

Graham Turner
HM Revenue and Customs
Charity Assets & Residence
Offshore Personal Tax Team
St John’s House
Merton Road
Liverpool
L75 1BB

Email: Offshore Personal Tax Team

Sending in your report

HM Revenue & Customs
Centre for Revenue Intelligence
Data Capture Unit
Ground Floor
Ty Glas Road
Llanishen
Cardiff
CF14 5ZG

Tel: 029 2032 6379 or 7373

Audit matters

Eddy Griffin
HM Revenue & Customs
Audit Unit (Information Returns)
St Johns House
Merton Road
Bootle
Merseyside
L69 9BB

Tel: 0151 472 6129 or 6136
Fax: 0151 472 6124
Email: Eddy Griffin