COM23150 - Assessing: CTSA assessments: recording a self assessment
This subject is presented as follows
Normal procedure
Exceptions
Action needed
Normal procedure
Wherever possible, COTAX records the self assessment automatically when the return is received from CT Online.
Exceptions
There are a number of reasons why COTAX cannot record the self assessment automatically. The cases are entered on EFRL (E-filed Return Work List) with a reason for entry. You must review them and take any action required to record the self assessment on COTAX.
Action needed
COTAX shows the figures from the return in RAMA. You can correct them if needed or record the self assessment as returned. If you make changes that constitute a correction of the self assessment (see subject ‘Correcting A Return’ (COM23050) in this section), COTAX issues a correction notice (Word 27KB) showing the amended figures. Otherwise, COTAX issues an acknowledgement of the return. If necessary, you can suppress assessing output (Word 27KB).
Once the self assessment is recorded, COTAX posts the self assessment charge to the company’s AP. Any Revenue Determination charge on the record for the AP (or for any period superseded by it) is displaced.
COTAX also calculates whether any Credit Interest (Word 34KB) is due and posts it to the record. (For more information see section ‘How Interest Is Calculated’ (COM80000) in the ‘Interest’ business area).
If the assessment you have prepared affects the penalty position on that AP, COTAX will give you the following choice of options for dealing with the penalty at the end of RAMA
- Allowing the automatic issue of penalties
Or
- Proceeding to Function PPEN (Prepare Penalty Determination) to issue or revise the penalty determination
Or
- Setting the ‘No Penalty Required’ indicator
Note: You should normally select the automatic issue of penalties option when it is available to you.
For more information see the ‘Penalties’ business area.
For a list of forms relevant to this subject, see COM23011.
For a list of functions to use in particular situations, see COM23012.
For legislation applying to this subject, see COM23013.
