CTC and SA Return
Scenario. Client divorced and self-employed. Has qualifying child. Partner separated employed has qualifying child and supports child.
Partner's estranged wife employed. Qualifying child lives part of year with each parent. Client lived with partner whole of tax year 2002. nobody pays tax at HR.
Partner is highest earner in both families.
Partner as highest earner for own family claimed CTC in respect of own child. IR allocated partner and estranged wife 50% CTC each. This would have been given through coding in y/e 05.04.02.
Client SA return to be prepared and is not highest earner.
As highest earner has to claim how is this done or are boxes 16.14,16.15,16.16 ,16.21 and box 16.24 ticked. This gives full CTC for clients family as only one allowance allowed per household.
What would be position if client highest earner? As can be seen there is a timing difference in the allowance being given. Also it is unlikely that employeed parties complete SA return.
- Problems viewing AWeb posts 70 2
- flat rate scheme 2,315 47
- Signed accounts for bank 629 14
- What route into accountancy would you recommend? 820 12
- Does anyone have an old version of Sage for sale? 117 3
- Business lending another business money (UK) 285 7
- Deferring dividends on paper 149 5
- VAT Query on new build 85 1
- Restriction of trading loss and overlap relief 131 1
- CIC Abbreviated Accounts 139 4
- Family Partnership 228 5
- How to format Co-operative Accounts 77 1
- P11D Car Value 251 6
- NOVA declaration 103 1
- Business valuation advice 703 18
- Auto enrolment: What’s your plan? 1,499 16
- Are any of you members of The Institute of Financial Accountants - Accountnats certificate 1,222 23
- Can anybody recommend any software 288 2
- Stand alone practice management software 2,103 26
- 2011 Self Assessment Tax return form 175 1