SAM121272 – Returns:
individuals returns: bankruptcy cases: appropriate amount of
pre-relevant date liability
To calculate the appropriate amount of the pre Relevant Date
liability when computing payments on account in a bankruptcy case,
you should
- Use function CREATE RETURN CHARGE to view the pre
Relevant Date liability
- Make a note of the figure shown in the Income tax
due after reliefs field
- Add to that figure any amount shown in the
following fields
- Recoverable tax on charges
- Class 4 National Insurance
- Underpaid tax for earlier years included
in PAYE code
- CODA Partnership Tax due
- CODA Partnership NIC due
- Deduct from that figure any amount shown in the
following fields
- Tax deducted at source
- Tax due included in later PAYE code
Notes:
- Amounts shown in any other fields on the screen can be ignored
as they do not form part of the payments on account for next year.
- The amount may be negative.
