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Very simple question

I have this vague recollection that Sch D was done away with some while ago for non corporate taxation when self assessment came in. Is that my imagination?

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Nope.

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I am having a discussion with a PH insurer who is insisting that benefits are based on profits assessed to tax under Sch D Case I and II and agreed by HMRC(!).  They've come back and said the Schedule system is still on HMRC's site and applies.

Thanks for the answer.

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Can he also ...

... point to the part where HMRC say that they agree profits?

I assume that he is referring to HMRC's manuals, many of which are woefully out of date.

In strictness, the schedular system continued for some time after the introduction of SA. It was essentially in 2005, with ITTOIA 2005, followed by ITA 2007, that saw the end of it.

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No :-)

".. point to the part where HMRC say that they agree profits?"

 

No - I already had him bang to rights on that!

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Tax Manuals

BKD - good point about the tax manuals being out of date. We are expected to be on top of things so why not HMRC?

And it's not just out of date by not getting the latest Finance Act included for example, but references to old legislation is very frustrating.

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