TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

2016–17 self-assessment individual exclusions – update

Readers may be aware that changes to the self-assessment (SA) tax calculation were recently implemented to accommodate changes in tax legislation. Unfortunately, as you may be aware, some issues were picked up that HMRC are unable to fix before 6 April 2017.

The Tax Agent blog recently posted details when a fix is due, which exclusions will remain and advice for agents on what to do if they are unable to file online. For more detailed guidance look at the recording of the Talking Points meeting “Submission of SA Returns affected by Exclusions”.

HMRC have provided a further update on this matter which has been covered several times in recent months in Chartered Accountants Tax News and tax.point. Version 7 of the exclusions is now live on GOV.UK and includes a number of newly identified exclusion cases.

If a taxpayer filed a 2016–17 SA return online or on paper prior to the updated calculation, which went live on 23 October 2017 or files a return online or on paper after 23 October 2017 with an incorrect tax liability, HMRC advise that they are committed to identifying where the tax liability is incorrect and to issuing a correct calculation.