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Provisional figures on a Tax Return

SA Query

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For the past few years I have submitted SA tax returns using the free HMRC online system in my tiny practice and found this to be generally  satisfactory.

However, I have a couple of clients with income from Trust.  The HMRC online system does not cover income from a trust so I submit these two returns on paper before 31 October.

Unfortunately one of the trusts has not come up with the required information and may not do so before 31 October. If so I am planning to submit the return on time with estimated trust income and checking the provisional figure box at the end of the return with a brief explanation in the white space.

Once the certification is received - be this before 31.1.21 or after - I will submit an amended Trust page.

Are there any unintended consequences I should be aware of?

Replies (4)

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By seandrowe
14th Sep 2020 09:00

Submitting provisional figures increases the chance of the tax return being selected for review. The costs of dealing any subsequent review would probably make it more efficient to use a software package to submit the return electronically before 31 January. I think taxfiler lets you sign up for a single return for about £40, or 10 returns for £120.

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Replying to seandrowe:
By John Stone
14th Sep 2020 11:53

But if the info is still missing as at 31.1.21 I am still in 'provisional' territory of course

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By Matrix
14th Sep 2020 11:59

How would you amend the return?

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Replying to Matrix:
By John Stone
14th Sep 2020 12:10

By submitting amended pages with the actual figures as the regulations specify.

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