Whats the diff between Inc Tax Return & Self Assmt Tax d

[vagabond4life]

Hi All

What is the difference between Income tax return & Self Assessment tax document.?

If we refer below to the required docs list for contractors, does that mean if a person files Self Assessment return online / paper based, this would not be considered as an evidence.

Anyone who has submitted application with income from self employment, please explain what you have done.

Thanks

Required evidence for Contractors

Applicants should provide ALL of the following:
• Income tax return. If the tax year does not cover the full period claimed, or the applicant has no tax return at all, the other corroborating evidence listed below should be used to make the assessment. Self assessment tax documents are not acceptable, as they are not independent; and
• Contracts from the employer to cover the period claimed and to total the amount of earnings claimed. They should give details of the employment, period of contract and the applicant’s salary; and
• Invoices from the employers showing the actual amounts paid to the applicant;
• Bank statements showing incoming payments made by the employer to the applicant.
If the required documents above do not provide two forms of corroborating evidence, the applicants should provide at least one of the documents listed below;
• An accountant’s letter on their letterhead confirming the gross and net pay for the period claimed.
• Invoice explanations/payment summaries.
The applicant may use a managing agent to deal with their financial affairs. If this is the case, a letter will need to explain the relationship between the applicant and the managing agent.

[ChetanOjha]

Hi All

What is the difference between Income tax return & Self Assessment tax document.?

IT Returns: is the one you get AFTER submitting your income tax. e.g.P60.
Self Assessment: is the one you refer to find out how much tax etc you need to pay.

If we refer below to the required docs list for contractors, does that mean if a person files Self Assessment return online / paper based, this would not be considered as an evidence.

Nope.

Anyone who has submitted application with income from self employment, please explain what you have done.

For self employment, you can submit copy of invoices,contract documents, company P/L document from your accountant,dividend vouchers, letter from your accountant etc.