Tax returns for independant contractors

[hopefulApplicant]

Hi All,

I am about to apply for my HSMP application as soon as my business bank account statements and UK Naric letter arrive. My one remaining issue is what to supply for a tax return.

As I work as a self employed contractor through my own limited company, all I have is a self assessment tax return (prepared and lodged by my accountant). However, the guidelines specify that self assessment returns are not admissible as they are not independant.

I would just like to hear from anyone who has been in a similar position and what they submitted (and also if their submission was successful).

Thanks,
Chris

[pantaiema]

They do not accept self assessment as it is not indepenjdent

Pantaiema

Hi All,

I am about to apply for my HSMP application as soon as my business bank account statements and UK Naric letter arrive. My one remaining issue is what to supply for a tax return.

As I work as a self employed contractor through my own limited company, all I have is a self assessment tax return (prepared and lodged by my accountant). However, the guidelines specify that self assessment returns are not admissible as they are not independant.

I would just like to hear from anyone who has been in a similar position and what they submitted (and also if their submission was successful).

Thanks,
Chris

[John]

I find this very strange! The relevant part of the HSMP Guidance Notes reads :-

In order to demonstrate your total annual salary before tax you should provide both:

• Your income tax return. If the tax year does not cover the full period claimed other corroborating evidence is required for the period(s) not covered. Self-assessment tax documents are not accepted, as they are not independent;
• Your wage slips covering the entire 12 months period.

So they ask for your "income tax return" but they say that "Self-assessment tax documents are not accepted"! It might have been an idea if someone in IND had bothered to speak to someone in HMRC! For the sort of people we are talking about, if it exists at all, the only form of UK tax return is a Self Assessment one!

So I simply don't understand what they are saying they will accept, or indeed will not accept!

However, the guidelines specify that self assessment returns are not admissible as they are not independant.

It may or may not help to point out they don't actually say that. They refer to "Self-assessment tax documents" ... of which there are a number of different types .... and do not refer specifically to a Self Assessment tax return.

But possibly this comment just adds to the confusion! And apologies for that.

[LondonBlonde]

John, self assesment taxes are only applied to the current year. Your accountant will still have filed a SA100 for the previous year.

If you give HO your SA100, along with bank statements and accounting records showing current year earnings, you should be alright.

http://www.hmrc.gov.uk/sa/selfemp.htm#whatissa

Appologies if I'm wrong about any of this. It's all new to me too.

Good luck to you - LondonBlonde

[John]

self assesment taxes are only applied to the current year.

You are confusing Self Assessment with PAYE.

[hopefulApplicant]

Hi all,

Just to let you know my progress on this one. I called my accountant to get them to certify that as a director of a limited company, I have to submit a self assessment return and don't have a P60 or P45.

I was told...."Oh, you do have a P60. It is right here. Shall I send it to you?".

Yay! So now I have my SA100, and my P60. I am hoping this is enough.

Thanks,
Chris

[vin123]

Self-assessment tax documents are not accepted, as they are not independent;

It is indeed very strange, but I guess they could have meant "self-employed" tax returns. ?

[John]

OK but the Self-Employed do file a Self Assessment tax return .... the standard SA100 form plus the SA103 Self-Employment pages.

As I said in this topic last Friday ... "It might have been an idea if someone in IND had bothered to speak to someone in HMRC!".