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Topic starter
05/02/2013 2:48 pm
Anyone able to confirm any of this for me please?
I've been told that my tax return for the year in which my sequestration started (yr to 05.04.13);-
1) has to be submitted on paper instead of online and also that it
2) has to be done/submitted in two parts to represent the part of the tax year pre-sequestration and the part of the year post sequestration
If that's all correct, how is the tax return for the following year managed when part of that will be 'in sequestration' too.
Or, is the above true for all 3 years and the part either side of the relevant tax years?
05/02/2013 3:17 pm
Hi RBSB
I can't see any reason why it would need to be in paperform, but I have now heard this from 2 or 3 people.
I can see the reason for the 2 periods as one will be a claim in the Trust Deed and one will be your responsibility. For subsequent years, you would commence the next return from the day after the date of sequestration to the end of your financial year. After that it would return to the normal dates.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
06/02/2013 12:04 am
Thanks, that makes sense for period pre sequestration to be separated.
Sequestration status should make no difference after that 1st part year then as its all post/during sequestration award ?
HMRC probably best to comment on the issue of paper returns and for how long?
06/02/2013 9:04 am
I wonder if the paper returns just relate to a lack of online capability to split up a tax return into different parts?
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Topic starter
06/02/2013 10:13 am
That would seem to be it TDA!
The online forms are only set up for entire tax years so it looks like a practical issue more then anything else.
06/02/2013 2:56 pm
I had to do mine in paper form this year too, although they did not split it into 2
06/02/2013 4:06 pm
We have just had one of our clients contact us today regarding this very subject.
HMRC have sent a letter advising that the client is required to complete a paper return manually and it cannot be sent online to them as it is for the year in which the Trust Deed was set up.
It would appear that the online system isn't set up to deal with this scenario at the moment which is why a paper return is required.
The client has been issued with a new SA reference number and for the coming year can register and complete tax returns online.
Chris is not currently posting in the Trust-Deed.co.uk forum.
06/02/2013 6:34 pm
I had the same problem, I was told by HMRC to register on line and submit my tax return on line, after probably 8 hours over several telephone calls an a lot of holding on I was told that I couldn't register for on line return by one dept and that I had to by another, I sent in my return with a covering letter at the start of February I got a letter back saying I had to fill in another form by the end of January ( a week before the letter was dated!!!) latest is that I have till endo of march to submit paper return.
Haven't got to the bottom of the VAT return yet!!!!!!!
