The taxpayer is obliged to make a return containing the
information we have requested that will enable us to establish the
tax charge. This means that giving only a single profit or loss
figure for a self-employment is not sufficient; we need the
supporting information which establishes that figure as accurate.
If you receive a return where annual turnover is £15,000 or
more, the taxpayer
must complete the Standard Accounts Information
(SAI) in order to satisfy the requirements of Section 8 TMA 1970.
There may also be occasions when you receive a return where
the annual turnover is £30000 or more and only the SAI boxes
covering ‘turnover’, ‘other expenses’ and
‘net profit’ have been completed (boxes 14, 29, 46 and
47 on the Self-employment (full) pages, boxes 8, 18, 20 and 21 on
the Self-employment (short) pages ). The return is unlikely to have
been completed fully and correctly. Detailed accounts and
computations may also be attached. A return filed in this form does
not fully comply with the statutory notice.
When reviewing a return for missing details you should also
check that the SAI details have been entered, if required.
See the subject ‘SAI: Examples Of Omission Of
Particular Boxes’ (
SAM121225) regarding effects of the
omission of details on the SAI.
Note: With the exception of partnerships who have
a turnover of £15 million or more or CT partnerships, even
where the accounts and computations have been sent with the return,
the SAI is not in the prescribed form. The return does not comply
with the relevant notice and should be treated as unsatisfactory.
See subject 'Unsatisfactory Individuals Returns' (
SAM121260).
The same criteria apply to returns filed over the Internet
as to those submitted in paper form.
Note: The same principles which apply to
completion of the SAI also apply to completion of income and
expenses boxes on the Land and Property supplementary pages.
