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HMRC Exclusion ID50

Article ID
ias-12398
Article Name
HMRC Exclusion ID50
Created Date
28th March 2017
Product
IRIS Personal Tax
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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