Hello
I have a client for whom I have submitted Form R40 for many years. However, I have now had the 2011/2012 R40 returned because the client had foreign dividend income in excess of £300 and I have been advised that the client needs to be put on the self-assessment system. Is this correct and, if so, can someone point me to the relevant piece of legislation? I am aware that for self-assessment taxpayers foreign dividends up to £300 can be included in the main body of the Return but, if in excess of this, need to be included in the supplementary foreign pages. However, I wasn't aware that dividends of this size had to be reported under the self-assessment regime.
I look forward to your comments and thank you for your time spent in responding.