SAM121220 - Returns: individuals returns: SAI: completion of individual바카라 사이트™s return

The taxpayer is obliged to make a return containing the information we have requested that will enable us to establish the tax charge. This means that giving only a single profit or loss figure for a self-employment is not sufficient; we need the supporting information which establishes that figure as accurate. If you receive a return where annual turnover is £85,000 or more, the taxpayer must complete the Standard Accounts Information (SAI) in order to satisfy the requirements of Section 8 TMA 1970.

There may also be occasions when you receive a return where the annual turnover is £85,000 or more and only the SAI boxes covering 바카라 사이트˜turnover바카라 사이트™, 바카라 사이트˜other expenses바카라 사이트™ and 바카라 사이트˜net profit바카라 사이트™ have been completed (boxes 14, 29, 46 and 47 on the Self-employment (full) pages, boxes 8, 18, 20 and 21 on the Self-employment (short) pages ). The return is unlikely to have been completed fully and correctly. Detailed accounts and computations may also be attached. A return filed in this form does not fully comply with the statutory notice.

When reviewing a return for missing details you should also check that the SAI details have been entered, if required.

See the subject 바카라 사이트˜SAI: Examples Of Omission Of Particular Boxes바카라 사이트™ (SAM121225) regarding effects of the omission of details on the SAI.

Note: With the exception of partnerships who have a turnover of £15 million or more or CT partnerships, even where the accounts and computations have been sent with the return, the SAI is not in the prescribed form. The return does not comply with the relevant notice and should be treated as unsatisfactory. See subject 바카라 사이트˜Unsatisfactory Individuals Returns바카라 사이트™ (SAM121260).

The same criteria apply to returns filed over the Internet as to those submitted in paper form.

Note: The same principles which apply to completion of the SAI also apply to completion of income and expenses boxes on the Land and Property supplementary pages.