SAM123332 - Returns: trust returns: processing the pension scheme tax return: calculation
You must calculate the liability using TSS or manually using the working sheet in the return. The liability should be entered on the SA record using function CREATE RETURN CHARGE. Information on the source of the entry or entries in function CREATE RETURN CHARGE from the pension scheme return is available as follows:
1996-97 Returns
1997-98 Returns
1998-99 Returns
1999-00 Returns
2000-01 Returns
2001-02 Returns onwards
1996-97 Returns
Create Return Charge field |
Source of entry from pension scheme return |
Income tax due after reliefs |
Box 13 less (Box 9 at 34%) |
Recoverable tax on charges |
Box 14 |
Capital Gains Tax |
Box 9 at 34% |
Tax deducted at source
|
Box 16 |
Underpayments for earlier years |
Box 18 |
Overpayments for earlier years |
Box 20 |
Note: If the figure in Box 20 is negative, treat it as positive and add it to the amount in box 18. Enter the result in the Underpayments for earlier years field and enter 0.00 (zero) in the Overpayments for earlier years field.
1997-98 Returns
Create Return Charge field |
Source of entry from pension scheme return |
Income tax due after reliefs |
Box 12 |
Recoverable tax on charges |
Box 13 |
Capital Gains Tax |
Box 17 |
Tax deducted at source |
Box 15 |
Underpayments for earlier years |
Box 18 |
Overpayments for earlier years |
Box 20 |
Note: If the figure in Box 20 is negative, treat it as positive and add it to the amount in box 18. Enter the result in the Underpayments for earlier years field and enter 0.00 (zero) in the Overpayments for earlier years field.
1998-99 Returns
Create Return Charge field |
Source of entry from pension scheme return |
Income tax due after reliefs |
Box P12 |
Recoverable tax on charges |
Box P13 |
Capital Gains Tax |
Box P23 |
Tax deducted at source |
Box P21 |
Overpayments for earlier years |
Box P25 |
Underpayments for earlier years |
Where the figure in box P25 is negative |
Note: If the figure in Box P25 is negative, treat it as positive and enter it in the Underpayments for earlier year’s field.
1999-00 Returns
Create Return Charge field |
Source of entry from pension scheme return |
Income tax due after reliefs |
Box P12 |
Recoverable tax on charges |
Box P13 |
Capital Gains Tax |
Box P23 |
Tax deducted at source |
Box P21 |
Overpayments for earlier years |
Box P25 |
Underpayments for earlier years |
Where the figure in box P25 is negative |
Note: If the figure in Box P25 is negative, treat it as positive and enter it in the Underpayments for earlier years field.
2000-01 Returns
Create Return Charge field |
Source of entry from pension scheme return |
Income tax due after reliefs |
Box P12 |
Recoverable tax on charges |
Box P13 |
Capital Gains Tax |
Box P23 |
Tax deducted at source |
Box P21 |
Overpayments for earlier years |
Box P25 |
Underpayments for earlier years |
Where the figure in box P25 is negative |
Note: If the figure in Box P25 is negative, treat it as positive and enter it in the Underpayments for earlier years field.
2001-02 Returns onwards
Create Return Charge field |
Source of entry from pension scheme return |
Income tax due after reliefs |
Box P12 |
Recoverable tax on charges |
Box P13 |
Capital Gains Tax |
Box P25 |
Tax deducted at source |
Box P21 |
Overpayments for earlier years |
Box P23 |
Underpayments for earlier years |
Where the figure in box P23 is negative |
Note: If the figure in Box P23 is negative, treat it as positive and enter it in the UNDERPAYMENTS FOR EARLIER YEARS field.
