HMRC Exclusion ID50
Article ID
ias-12398
Article Name
HMRC Exclusion ID50
Created Date
28th March 2017
Problem
The basic rate band has been incorrectly extended by the savings starting rate when customers have a chargeable event gain with the tax treated as paid.
Resolution
When clients have non-saving, saving and dividend income including the chargeable event the basic rate band should not be extended by the saving starting rate of £5,000.
This is an HMRC exclusion and a paper return will need to be filed, HMRC are planning on fixing the issue for 17/18.
Please ensure that you go to the HMRC web site and search for unable to file form. This is a PDF owned by the HMRC and you will need to download this form and print it off and in box 6 enter in the appropriate exclusion number and attach to your return when sending via post.
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