The final solution 

No I am not speaking about the holacaust ,I am speaking about the Royal Family .

On the event of the Queens 90th Birthday and the vast amount to money which is being spent on celebrating it I have been pondering on a solution to the seemingly everlasting debate on what we can do with this anachronistic anti democratic  establishment called the Royal family.

Now I realise that there are a great many people in the UK and indeed other parts of the World who need to feel inferior and defer to privilege, they seem to enjoy grovelling and scraping to entities that they see as being ” better” than them. There is of course  a great many people , me amoung them, who do not see people being any “better” than any one else and at the same time did not much like the idea of subsidising this undemocratic family , especially at a time when we see the need for food banks rising and the country being in such a state financially that the government see the need to implement austerity policies  the consequences of which which see people committing suicide on a daily basis.

So what do we do with the Royal family and I include the extended family which will of course take in the the son of James Hewit? 

Well the way I see it is quite simple ,we privatise them . We form ” the Royal family PLC” , we put them on the stock market and in that way the intuitive phsicophants can have a field day and absolutely wallow in their adoration of privelage . Just imagin , instead of waving wee plastic flags when watching the queen pass by in her plastic coach , they can wave their share certificates. I am sure the Tory government could find one of their friends in the financial industry with experience of packaging sub prime mortgages who could organise  this flotation.

The best  thing about this is that it would take the Royal family out of the pockets of those who would rather be governed in a more democratic way  and perhaps the proceeds of this flotation could be used to alleviate starvation and inequality which is prevelent in this country at present .

Ok so who is for it  the  privatisation of the Royal family ?

FRANKS LAW AND THE MANIFESTO

 
Some of you might not have have heard of Frank’s Law but is is a term given to a campaign started by Amanda Kopel wife of Frank Kopel , who at one time played for Dundee United.

He contacted a debilitating mental illness at a relatively young age and passed away as a result of that illness.

At present in Scotland , people under the age of 65 cannot receive assisted personal care and the propose of the campaign is to address this pressing issue.
A good friend of the yes campaign and a member of the Yes Bus team , Sharon Davie, has been at the forefront of this campaign and has approached both Nicola Sturgeon and the health secretary Sheona Robinson , wife of the finance spokesman at Westminster ,Stewart Hosie both Dundee politicians . It would appear that through discussions surrounding this campaign the campaigners have received promising feedback which led them to believe that there was the possibility of Frank’s law being addressed in the forth coming Scottish parliament.
This would have had to have been included in the manifesto announced last Wednesday . Unfortunately ( and as I have highlighted in a previous blog) this manifesto will be notable for what was not included rather than what was included.
It would appear that despite the promising noises made by the various politicians regarding this important issue there is not the political will to do anything about it.
If we are to be a mature country we must care for all elements of our population , more especially the elderly as they have done their bit in life and paid their dues . It is up to us now to do our bit and stand by those who through no fault of their own become ill and require a different level of care. 
A wee story of how other countries treat their elderly.

A few years ago whilst visiting China with a very dear Chinese friend of mine, and arriving in Beijing Airport , we were confronted with a line of people waiting for taxis , there must have been over 100 people in this line. Although I was not in the least amused , we took our place in the line. There was a young lady in uniform at the head of the line placing people in the taxis. She looked along the line to where we were , walked up to us and opened the barrier. I asked Felice what was happening and she said that we were to go to the front of the line , puzzled I asked why and she said ” because you are old”. Well you can imagine my indignation and I point blank refused to come out of the line ,until Felice reminded me that we were in a communist country and if I caused a fuss I was likely to be arrested. So the two extremes there, but the point is that they revere and respect their elderly and give them what consideration they can. So why can’t to we do that ? Why can’t we just get some of our priorities right.
So keep fighting Sharon and Amanda and beware of false prophets sent by the SNP  to keep you quiet until after the election and keep in mind this, you are right.

Predictable but disappointing 

So the long awaited SNP manifesto is out and to be honest, as far as independence goes ,they would have been better not to have bothered as they made the same mistakes as they did with the manifesto for the Westminster elections. They have not in any way prepared the ground for a future referendum. Let me be clear though the SNP have governed well and certainly compared to what went before with the Lab dem coalition, they have done very well but that as not difficult and let’s be very honest , you do not elect a government to make a mess of things ,you elect them to do their job and their job is to govern the country and that is what they have been doing . They have been doing the job we elected them to do and we pay them a lot of money for doing that. I wonder how many people would go into a shop , buy a box of corn flakes and then think the shop was great because when they opened the box they actually found corn flakes inside.
So back to the manifesto .I feared that this would be the case and expressed my concerns in advance, in several blogs within the last few weeks .

If there is one thing about the SNP ,it is their predictability and their inability or unwillingness to form a proper strategy and a road map to independence was very , very predictable, so in that respect they have not let anyone down. 
I could list here the things they should have done but to save me time you could look at the blogs I have done in the last few weeks, but the very basic inclusion in the manifesto should have been the intention to ” hold the British governments feet to the fire” ( now where have I heard that before) in respect of transferring the power to decide on when and in what manner the people of Scotland hold a referendum. That is the very basic requirement that should have been included in the manifesto for without that we do not have a mandate from the people to decide on the date or terms of any future referendum and we still have to go cap in hand in Oliver Twist-esc fashion to the British government with a request for them to please grant us the temporary right once more to attempt to decide our own fate. What a demeaning prospect.
Yes once again we have been mislead into believing ( or at least some people have) that there is a great master plan in prospect but we are just not quite up to being party to it so if we just stay in our box a little longer all will be revealed.
Now ,it would appear that AFTER the election ,there will be moves towards another possible referendum at some unspecified time in the future and the mistakes that were made in the first referendum will be addressed. Well a couple of points here, these mistakes , these uncertainties are well known and have been since even before the last vote was cast at the referendum. So a question here ( one that I have asked many times and had not a single answer) Why after 18 months are we just getting around to addressing these issues? Why was the suggestion ( made to the SNP 2 days after the referendum) to continue the campaign ,all be it on a lower level through the grass roots groups, to inform and put right the issues which lost us the referendum not taken up ? It was not rocket science. 

Why was there not provision made in the manifesto for the Westminster elections to wrest control of he ability to hold a referendum from the Westminster government instead of a demeaning and half hearted attempt during the Scotland bill, which was basically, ignominiously ignored, once again bringing home the failure to include meaningful strategy into the election manifesto.
I could go on and on but as I say if any one is interested then they can look back on the blogs I have done in the last few weeks because I am becoming fed up saying ” I told you so”
No doubt this blog will receive the usual criticism, some possibly well thought out and no doubt a lot of it from the Sheeple who do not have the ability to think for themself and seek support from any one who will think for them. 

 In expectation of some of this nonsense I wonder if any of these self appointed keepers of the SNP soul can have a wee think about any single thing that the SNP ( not the Scottish government) have done since the referendum to bring another referendum any nearer or prepare for one , should the situation arise ( such as a Brexit which could happen in a few weeks ). 
 Yes the SNP were swept along on the crest of the wave initiated by the disappointment of the last referendum . They were put there because there was no other alternative , they were seen as the best bet to gain independence. They have used is ardour to consolidate power but have done absolutely nothing to further the cause of independence, in fact it could be said that they have acutely in some ways held back the prospects of independence . 
 It is a fact that the SNP are where they are , not because of what they are but despite what they are.
They need to wake up or change their constitution.

In any democracy the sanction the people have is at the ballot box . I do not feel that the SNP have complied with their constitution in either the Westminster or this forthcoming Holyrood election manifesto as regards their main propose in life, independence of Scotland , as such they have not earned my vote and they will not on this occasion be receiving it either in the first or second option.
We will still be on our road to independence with or without the SNP 

HOW THE SCOTTISH PEOPLE WILL LET THE SCOTTISH GOVERNMENT KNOW THAT THEY WISH ANOTHER REFERENDUM.

There has been much mind exercise regarding the above conundrum and the reason for his is that Nicola Sturgeon is in the habit of telling everyone that this will be a trigger for a future referendum without actually making plain what the procedure will be for ascertaining the process for determining the will of the Scottish people in this respect.
Ok so I have a suggestion and it isn’t rocket science .

   We live in a democracy ( well near enough). Now the principal of a democracy is that ,as near as possible , the people’s will will be upheld.

Ok so far? And the way that this is expressed is through the ballot box. Now the way we do this is that the various parties/ individuals, put forward their policies that they will adopt ,if elected and this is done by means of including these potential policies in their manifesto which comes out in the run up to the election. 
Now manifestos are supposed to be presented in plenty of time ,so that the electorate can digest the contents and therefore make informed decisions on who to elect , confident that what is said in a manifesto will be delivered by the party/ individual on election to government.
Now a government elected on a particular manifesto is said to have a mandate to govern or to carry through promises made in the manifesto and the reason for this is that a government elected on a particular manifesto is accepted as working within a democratic mandate.
So this gets me back to the question in hand and that is how is the Scottish government going to asses when and whether the Scottish people are in the mood for another referendum? 
Well it is dead simple ,isn’t it? They simply put that question into their manifesto. Now as far as the SNP are concerned , it is dead simple and it is simple because they have this in their constitution. The second paragraph is very clear that their reason to exist is to gain independence. So unless they have in some way deviated from their own constitution they simply have to reaffirm this intention and ask the Scottish people to elect them on the basis of progressing in an orderly manner towards a second referendum of independence by some other means.
So wouldn’t it be nice and simple if the SNP were to put this into their manifesto and there would be no doubt of how the Scottish people wish to progress on the road to independence.
It would be nice to see some concise thinking on independence in the SNP manifesto which is to be produced on Wednesday.
The Scottish people deserve to be led , not humoured   

Dodgy Daves “Summery”

OK so dodgy Dave has been under pressure to make his dealings in tax avoidance public. He mistakenly presented to the public a summary of his financial affairs instead of a copy of his tax return. He is no doubt a busy man and no doubt instructed one of his minions to knock up a brief summary of some of his finances to keep the natives happy so I decided to make it easy for him to actually produce a proper record of all of his dealings except of course the ones he really does want to keep secret, because that is exactly what one would use places like Panama for.

 

Now there are probably some people out there who don’t believe Dave has actually divulged all of his finances in the “summary “that he put out to the compliant news organisations and was discussed in parliament today . So I wondered if perhaps Dave might, just for the sake of clarity let us know exactly what he put on the page which comes under the heading “Foreign”, because that is where he will have ( or perhaps not) put details of all his earnings made abroad and specifically in offshore tax havens like Panama for instance Now if perhaps he has not put anything in there for the past few years but received benefits from these foreign investments then perhaps he just might be making out his next tax return from Jail.

I enclose below the notes which accompany every tax return, so scroll down and have a look at the heading “Foreign” and “Trusts”

Use these notes  to help you fill in  your tax return

These notes will help you to fill in your paper  tax return. Alternatively, why not complete  it online?

  • it’s quick, easy and secure
  • you will have an extra 3 months to send it to us
  • you don’t have to complete it all at once – you can save your details and finish it later if you want

A   For more information about Self Assessment Online, go to www.gov.uk/how-to-send-self-assessment-online

If you have not completed a tax return online before, go to online.hmrc.gov.uk/registration Once you have signed up, we will post you an Activation Code. This can take 7 working days to arrive (or up to 21 days if you’re setting up your account from abroad) so please register in plenty of time.

If you don’t think you need to complete a tax return

for this year, go to  www.gov.uk/check-if-you-need-a-tax-return

Contents

What makes up your tax return  TRG                     2

Starting your tax return  TRG                                 3

Income  TRG                                                          4

Tax reliefs  TRG                                                     7

Student Loan repayments  TRG                              9

High Income Child Benefit Charge  TRG             10

Service companies  TRG                                      10

Finishing your tax return  TRG                             10

Signing your form and sending it back  TRG        11

A rough guide to your tax bill  TRG                     12

 

Tax return deadlines and penalties

  • If you want to fill in a paper tax return, you must send it to us by 31 October 2015
  • If you decide to fill in your tax return online or you miss the paper deadline, you must send it online by 31 January 2016 – but, if you want us to use your tax code to collect any tax you owe, you need to file online by 30 December 2015 If we don’t receive your tax return by the deadlines, you will have to pay a £100 penalty – even if you don’t owe any tax.

A   To find out more about penalties, go to www.gov.uk/self-assessment-tax-returns/penalties

Before you start

You may need the following documents to help you fill in the tax return:

  • your forms P60, ‘End of Year Certificate’, P11D, ‘Expenses or benefits’ or P45, ‘Details of employee leaving work’ and your P2, ‘PAYE Coding Notice’
  • if you work for yourself, your profit or loss account or your business records
  • your bank statements, building society passbooks, dividend counterfoils or  investment brokers’ schedules
  • personal pension contributions certificates Do not send any receipts, accounts or other paperwork with your tax return, unless we ask for them. If you do, it will take longer to deal with your tax return and will delay any repayment.

How to fill in your tax return

If you fill in a paper tax return please:

  • read the ‘Most people file online’ section     on the front of the form
  • enter your figures carefully – if you make a mistake, we may ask you to pay too much tax
you are still responsible for the information on it. And you must sign the form.

SA150 Notes 2015                                                                                                                                                                            HMRC 12/14

If you ask someone else to fill in your tax return,

What makes up your tax return

We have sent you a tax return that we think matches your personal circumstances. But you need to make sure the form has all the relevant supplementary pages.

Please read the first 2 pages of your tax return (and read notes 1 to 9 below) before you fill in the form. If you put an ‘X’ in any of the ‘Yes’ boxes on page TR 2, you need to fill in and send us the supplementary pages for that income or gain too. If you don’t, we will treat your tax return as incomplete and send it back to you.

A   If you need any supplementary pages and notes to help you complete them, you can:

1 Employment

You should fill in the ‘Employment’ page if you:

  • were employed in full-time, part-time or       casual employment
  • received income as a company director
  • held an office, such as chairperson, secretary or treasurer and received income for that work
  • worked for 1 person through another company or partnership, for example, agency work
  • were resident in the UK and received an income from any foreign employment You will need a separate ‘Employment’ page for each job, directorship or office.

If you were a company director and didn’t receive any income or benefits, but expect to do so in future, just complete boxes 4, 5 and 6 of the Employment page. This will mean you don’t have to re-register for Self Assessment.

2 Self-employment

If you worked for yourself or you were a subcontractor working in the building industry, fill in the ‘Self-employment pages. If you worked with someone else in partnership, use the ‘Partnership pages.

There are 2 types of ‘Self-employment’ pages.

If your business is:

  • straightforward and your annual turnover was less than £81,000, use the ‘Self-employment’ short pages
  • more complex or your annual turnover was £81,000 or more, or you need to adjust your profits, use the ‘Self-employment full pages You will need separate ‘Self-employment pages for each business.

3 Partnership

There are 2 types of ‘Partnership pages – short ones and full ones. Each partner must fill in their own ‘Partnership pages, and 1 partner will have to complete the ‘Partnership Tax Return.

4 UK property

Fill in the ‘UK property’ pages if you received income from: • any UK property rental

  • furnished holiday letting from properties in              the UK or European Economic Area (EEA)
  • letting furnished rooms in your own home.  But if you provided meals and other services,  you will need to fill in the ‘Self-employmentpages

5  Foreign

Use the ‘Foreign pages if you received:

  • interest (over £2,000) and income from        overseas savings – if your only foreign income was untaxed foreign interest below £2000, you can put this amount in box 2 on page TR 3 of your tax return instead (see TRG 4)
  • dividends (over £300) from foreign companies
  • distributions and ‘reported income’ from offshore funds – this is taxable income accumulating in an offshore fund that you  have not yet received
  • overseas pensions (not lump sums from pension schemes), social security benefits and royalties
  • income from land and property abroad

(not furnished holiday lettings)

  • discretionary income from non-resident trusts
  • income or benefits from a person abroad or             a non-resident company or trust (including  a UK trust that has either been, or has received, income from, a non-resident trust)
  • gains on foreign life insurance policies or on disposals in offshore funds

You should also fill in the ‘Foreign pages if you want to claim Foreign Tax Credit Relief or  Special Withholding Tax on income you report  on other pages.

6 Trusts etc

Fill in the ‘Trusts etc pages if you were:

  • a beneficiary of a trust (not a ‘bare’ trust) or settlement, or
  • the settlor of a trust or settlement whose income is deemed to be yours

If you received income from the estate of a person who has died, do not fill in the ‘Trusts etcpages if:

  • you were entitled to a fixed sum of money or          a specific asset
  • your legacy was paid with interest (put the interest in box 1 or box 2 on page TR 3 of your  tax return)
  • that income came from a specific estate asset,          for example, rents from an estate property

7 Capital gains summary

Fill in the ‘Capital gains summary pages and attach your computations if:

  • you sold or disposed of chargeable assets which were worth more than £44,000
  • your chargeable gains before taking off any losses were more than £11,000
  • you want to claim an allowable capital loss or make a capital gains claim or election for  the year
  • you were not domiciled in the UK and are claiming to pay tax on your foreign gains on  the remittance basis
  • you are chargeable on the remittance basis  and have remitted foreign chargeable gains  of an earlier year

8 Residence, remittance basis etc You should fill in the ‘Residence, remittance basis etc pages if you: • are not a UK resident

  • are eligible to overseas workday relief
  • arrived in the UK during the 2014–15 tax year and became a UK resident
  • want to claim split-year treatment
  • have a domicile outside the UK
  • have foreign income or capital gains and want to use the remittance basis for 2014–15

9 Additional information

Fill in these pages if you have:

  • interest from UK securities, deeply discounted securities, accrued income profits and  disguised interest
  • life insurance gains
  • stock dividends, non-qualifying distributions           or close company loans written-off
  • post cessation business receipts
  • income from share schemes
  • received lump sums or compensation from your employer, or foreign earnings not taxable in  the UK
  • received income from a former employer     covered by third party arrangements or

‘disguised remuneration’ rules

You should also fill in the ‘Additional information’ pages if you: • wish to claim

— Married Couple’s Allowance

— employment deductions

— tax reliefs, for example, on              maintenance payments

— relief for losses from other income,

2015–16 trading or capital losses

  • are liable to tax charges on pension savings (including overseas pension schemes)
  • need to tell us about a tax avoidance scheme
A   For information about the tax charges on pension savings, go to

www.gov.uk/tax-on-your-private-pension/overview

A   Your tax return should have all the relevant pages. If it doesn’t, you will need to get the supplementary pages and relevant notes to help you complete them:

Starting your tax return

Your personal details

Box 1 Your date of birth

Make sure you tell us your date of birth. If you don’t, you may not get all the allowances you are entitled to.

Box 2 Your name and address

If the details are different or missing, for example, because you printed the tax return from the internet, write the correct details in or under  the ‘Issue address’ on the front of the form.

Box 4 Your National Insurance number If your National Insurance number is not at the top of your tax return, it will be on: • a payslip, P45 or your P60 for the year

  • a P2, ‘PAYE Coding Notice’
  • any letter from us or the Department for Work and Pensions

Example of a National Insurance number

Income

Interest and dividends from UK banks, building societies, etc

This includes:

  • any interest you receive on bank, building society and other savings accounts
  • dividends and other qualifying distributions from UK companies and UK authorised unit trusts or open-ended investment companies
  • income from purchased life annuities
  • interest you receive in non-cash form Don’t include any interest from Individual Savings

Account (ISAs), Ulster Savings Certificates,  Save As You Earn schemes or as part of an award by a UK court for damages.

We usually treat income from investments held in joint names as belonging to the two of you in equal shares. However, if you hold unequal shares, you can elect to receive the income and pay tax on those proportions. Only put your share of any joint income on the tax return.

If a nominee receives investment income on your behalf, or if you are a beneficiary of a bare trust, fill in boxes 1 to 4 – not the ‘Trusts etc pages.

If you make gifts to any of your children who are under 18 that produces more than £100 income (before tax), you need to include the whole amount of the income in your tax return.

If your bank or building society pays you an alternative finance return or profit share return instead of interest, put the amount in box 1 if it  is taxed, or box 2 if it is not.

UK interest etc

Include in box 1 or box 2 any interest from:

  • bank and building society savings, including internet accounts
  • UK authorised unit trusts, open-ended investment companies and investment trusts
  • National Savings & Investments accounts and savings bonds
  • taxable interest received on compensation payments, for example, payment protection insurance (PPI)
  • certificates of tax deposit
  • credit unions and friendly societies Don’t include interest from UK government securities (gilts), or interest from bonds, loan notes or securities issued by UK companies. These go in the ‘Additional information

Box 1 Taxed UK interest etc – the net amount after tax has been taken off Copy the net interest details from your bank statements, building society passbooks or electronic vouchers from authorised unit trusts, open-ended investment companies or investment trust companies. If you have more than one account, add up all your net interest and put  the total in box 1.

Include any net income (after tax has been  taken off) from a purchased life annuity.  Use the details on your payment certificate and only put the income part of the payment in box 1. Don’t include the rest of the payment.

If you received cash or shares following the takeover or merger of building societies, you may have to pay tax on the income. If you do, include it in box 1. If you are not sure, put the amount in box 16 and give us details in ‘Any other information’ on page TR 7.

Box 2 Untaxed UK interest etc – amounts which have not had tax taken off

If you have an account that pays you gross interest

(for example, because you have filled in a form R85, ‘Getting your interest without tax taken off), put the gross amount in box 2.

If your only foreign income was untaxed foreign interest (of up to £2,000), you may put the amount in box 2 instead of filling in the ‘Foreign’ pages.  You must put the name of the country where the interest arose and the amount you received (in UK pounds) in ‘Any other information’ on page TR 7. If it was more than £2,000, you will need to fill in the ‘Foreign’ pages.

UK dividends

Box 3 Dividends from UK companies – the net amount, do not include the tax credit Your dividend voucher will show your shares  in the company, the dividend rate, and the  tax credit and dividend payable. Put the total dividend payments in box 3 – don’t add on  the tax credit.

Include any dividends from employee share schemes. Don’t include:

  • Property Income Distributions from Real

Estate Investment Trusts (REITs) or Property Authorised Investment Funds (PAIFs) – these go in box 16, and the tax taken off in box 18

  • stock dividends or non-qualifying dividends – these go in the ‘Additional information pages

Box 4 Other dividends – do not include the tax credit

This includes dividend distributions from authorised unit trusts, open-ended investment companies, and investment trusts. Put the amount on your dividend voucher in box 4 – don’t add  on the tax credit.

Include in box 4 any dividend from accumulation units or shares that are automatically reinvested.

Don’t include any ‘equalisation’ amounts.

Box 5 Foreign dividends (up to £300)

If your only foreign income was taxed dividends, put the net amount in British pounds in box 5 instead of on the ‘Foreign pages. Put the foreign tax taken off in box 6.

UK pensions, annuities and other  state benefits received

Not all benefits are taxable. Don’t include the following in boxes 7 to 12:

  • Attendance Allowance, Bereavement Payment         or Personal Independence Payments
  • State Pension Credit, Working Tax Credit,    Child Tax Credit or Universal Credit
  • additions to State Pensions or benefits for dependent children
  • income-related Employment and Support

Allowance, Jobfinder’s Grant or Employment

Zone payments

  • Maternity Allowance
  • War widow’s pension and some pensions paid         to other forces dependants
  • pensions and other payments for disability, injury or illness due to military service
  • overseas pensions – these go on the

‘Foreign pages

A   For more about what is and what is not taxable income, go to www.gov.uk/income-tax

Box 7 State Pension

Use the letter ‘About the general increase in benefits’ that the Pension Service sent you to find your weekly State Pension amount.

Add up the amount you were entitled to receive from 6 April 2014 to 5 April 2015 and put the total in box 7. Don’t include any amount you received for Attendance Allowance.

If your State Pension changed during the year or you only received it for part of the year, multiply each amount by the number of weeks that you were entitled to receive it. Add up your  amounts carefully.

If you do not have the letter from the Pension

Service, phone them on 0345 606 0265 (textphone 0800 731 7339) and ask them for the information.

If you received a lump sum because you deferred your State Pension, put the amount in box 8.

Don’t include State Pension Credit, the Christmas bonus, Winter Fuel Payment or any addition for  a dependant child.

Boxes 8 and 9 State Pension lump sum

Only fill in box 8 if you deferred your   State Pension for at least 12 months and chose   to receive it as a one-off lump sum in 2014–15.  Put the gross amount (before tax taken off)   in box 8 and the tax taken off in box 9.   Don’t include any lump sum amount in box 7.

Box 10 Pensions (other than State Pension), retirement annuities and taxable triviality payments

Your pension payer will give you a P60, ‘End of Year Certificate or similar statement. Add up your total UK retirement annuities and pensions  (not the State Pension), and put the total gross amount (before tax taken off) in box 10. This includes pensions:

  • from your, or your late husband’s, wife’s or            civil partner’s, employer
  • from personal pension plans and stakeholder pension plans
  • paid as drawdown pensions from a registered pension scheme
  • from Additional Voluntary Contributions schemes
  • for injuries at work or for work-related illnesses
  • from service in the Armed Forces
  • from retirement annuity contracts or trust schemes It also includes the taxable part of any lump sums you received instead of a small pension  (‘trivial lump sum’).

Please give us the following details in ‘Any other information’ on page TR 7:

  • details of your pension or annuity payer and your reference number
  • your PAYE reference
  • the payment before tax and the amount of tax taken off

10% deduction

If you receive a UK pension for former service to an overseas government, only 90% of the basic pension is taxable in the UK. Take 10% off the value of the pension before you put the amount in box 10. The territories are:

  • any country forming part of              Her Majesty’s dominions
  • any Commonwealth country (excluding the UK)
  • any territory under Her Majesty’s protection
Box 11 Tax taken off box 10

Use the P60 or certificate your pension payer  gave you, and put the total amount of tax taken off all your pensions in box 11.

Example of tax return, box 11

If your P60 shows that you received a refund,  it will have an ‘R’ next to it. Put a minus sign  in the shaded box in front of the figure.

Box 12 Taxable Incapacity Benefit and contribution-based Employment and  Support Allowance

Not all Incapacity Benefit is taxable. It is not  taxable in the first 28 weeks of incapacity or if your  incapacity began before 13 April 1995 and you

have been getting it for the same illness ever since.  All contribution-based Employment and Support  Allowance is taxable.

Use the P60(IB), P45(IB), P60(U) or P45(U) that  the Department for Work and Pensions (DWP)  gave you. Put the total taxable amount of your  benefit or allowance in box 12 and any tax taken  off your payments in box 13.

Box 14 Jobseeker’s Allowance

Use the P60(IB), P45(IB), P60(U) or P45(U) that DWP gave you and put the total amount of Jobseeker’s Allowance in box 14.

If you stopped claiming before 5 April 2015,  you will find the total amount on your P45(U).

Box 15 Total of any other taxable State Pensions  and benefits

If you had any of the following, add up your payments and put the total in box 15. • Bereavement Allowance or Widow’s Pension

  • Widowed Parent’s Allowance or Widowed Mother’s Allowance
  • Industrial Death Benefit
  • Carer’s Allowance
  • Statutory Sick Pay or Statutory Maternity,

Paternity or Adoption Pay but only if paid by

HM Revenue & Customs (not your employer)

Don’t include the Christmas Bonus and Winter Fuel Payment, or any Cold Weather Payments.

Other UK income not included on supplementary pages

Box 16 Other taxable income

This includes:

  • casual earnings, commission or freelance income
  • business receipts where your business has ceased
  • Property Income Distributions (PIDs) from

Real Estate Investment Trusts (REITs) and

Property Authorised Investment Funds (PAIFs)

  • payments from a personal insurance policy for sickness or disability benefits
  • income from unauthorised unit trusts
  • taxable annual payments
  • profits from certificates of deposit • non-cash benefits you received for being a

former employee

Make sure you tell us what this income is in box 20. Don’t include any income from your employment, self-employment or capital gains.

Box 17 Total amount of allowable expenses

This includes any expenses that:

  • you had to spend solely to earn the income
  • were not for private or personal use
  • were not capital items, such as a computer

A   For more information on allowable expenses, go to www.gov.uk/tax-relief-for-employees

Box 19 Benefit from pre-owned assets

Pre-owned assets (property) includes land and buildings or chattels, for example, works of art, furniture, antiques, cars or yachts, or any assets held in a settlement.

You may have to pay a tax charge on benefits received if you previously owned or helped to buy assets (pre-owned assets (POA)). You may have to pay tax if:

  • during 2014–15 you

— occupied land without paying a full market  rent for it, or

— used or enjoyed goods without paying fully  for the benefit, or

— could benefit from property you have settled  if income from the property is treated as yours, and

  • at some time since 17 March 1986 you

— owned the property you are now     benefiting from, or

— owned and sold property and used the  proceeds to buy the property you are now benefiting from, or

— gave someone else property, including cash,           and they used it to buy the property you are now benefiting from, or

— settled assets into the trust that you can  benefit on

Please tell us in ‘Any other information’ on  page TR 7, how you worked out the benefit  or charge that you put in box 19. Don’t include the benefit if:

  • the property could be liable to Inheritance Tax when you die
  • the total benefit for the year is £5,000 or less
  • you made the cash gift before 6 April 2007
A   For more information about pre-owned assets and help working out your benefit:

•   go to              www.hmrc.gov.uk/manualsa-z and read page IHTM44000 in the Inheritance Tax Manual, or

•   phone the Probate and Inheritance Tax Helpline           on 0300 123 1072

Tax reliefs

This section covers tax relief for payments to pension schemes, charities and for Blind Person’s Allowance. If you wish to claim other reliefs, for example, Married Couple’s Allowance where one of the couple was born before 6 April 1935, please use the ‘Additional information pages.

Paying into registered pension schemes and overseas pension schemes

Fill in boxes 1 to 3 for payments to registered pension schemes and box 4 for payments to overseas pension schemes.

You can claim tax relief on your personal contributions to a registered pension scheme  if you paid them before you reached age 75  and have:

  • been a UK resident in the tax year, or • had taxable UK earnings, such as employment income or profits from self-employment, or • had UK taxable earnings from overseas Crown   employment (or your spouse or civil partner    did), or
  • been a UK resident when you joined the pension scheme, and at any time in the 5 tax years before

2014–15

Don’t include any amounts for:

  • personal term assurance contributions
  • your employer’s own contributions • contributions taken from your pay before it was taxed

A   For more information, go to www.hmrc.gov.uk/helpsheet347

Limits to relief

The maximum personal contributions you can claim tax relief on is either:

  • up to the amount of your taxable UK earnings in the tax year, or
  • up to £3,600 gross (that is, £2,880 you paid plus £720 tax relief claimed by your pension provider) to a ‘relief at source’ scheme only The limits also apply to overseas pension schemes.

The Annual Allowance is £40,000 for 2014–15.  If your contributions and other pension inputs  are more than the Annual Allowance, you should also fill in boxes 7 to 12 on page Ai 4 of the ‘Additional information’ pages.

A   For more information go to, www.hmrc.gov.uk/helpsheet345

Personal contributions that had tax relief in the scheme

Box 1 Payments to registered pension schemes operating ‘relief at source’

Under the ‘relief at source’ system, your pension provider claims basic rate tax relief (of 20%) on your personal contributions and adds that to your pension pot.

Put the total amount in box 1 – that is, your personal contributions paid to the scheme, plus the basic rate tax relief. Include any one-off contributions you made in the year and give us the details of any one off contributions in ‘Any other information’ on page TR 7.

Use the pension certificate or receipt you get from the administrator to fill in box 1 or work out the figure by dividing the amount you actually paid by 80 and multiplying the result by 100.

Example

Emma paid £700 into her pension scheme. She puts £875  in box 1 (£700 divided by 80 and multiplied by 100), which is her net payment plus the tax relief of £175 (£875 at 20%).

If you pay tax at 40% or 45% you should still  fill in box 1 with the amount you paid in plus the basic rate (20%) tax relief. We will work out the extra tax relief due to you over the basic rate claimed by your pension provider.

Personal contributions with full relief  still to claim

Box 2 Payments to a retirement annuity contract  If your retirement annuity contract (RAC) provider does not use the ‘relief at source’ scheme they do not claim the basic rate (20%) tax relief on your behalf. Put your total personal contributions to the RAC in 2014–15 in box 2.

Box 3 Payments to your employer’s scheme  which were not deducted from your pay  before tax

In some schemes, an employer takes your personal contributions from your pay before they tax what’s left. If you (or someone else who is not your employer) paid into such a scheme and no tax relief was given, you can claim that tax relief now. Put the total unrelieved amount you paid in 2014–15 in box 3.

Box 4 Payments to an overseas pension scheme You may get tax relief if you are eligible for migrant member relief, transitional corresponding relief or relief under a Double Taxation Agreement. Put the amount that qualifies for tax relief in box 4.

Charitable giving

Tell us about the gifts to charities and Community Amateur Sports Clubs (CASCs) that you are claiming relief for.

A   For more information about giving to charity, go to www.gov.uk/donating-to-charity

For an A to Z of registered CASCs, go to  www.hmrc.gov.uk/casc/clubs.htm

Gift Aid

Gift Aid is a tax relief for gifts of money to

charities and CASCs.

If you pay tax at the higher rate, or additional  rate, you are entitled to additional tax relief – the  calculation works it out for you.

If you were born before 6 April 1948 and pay tax  at the basic rate (20%), your Gift Aid payments  could reduce your tax bill so make sure you fill in  box 1 on page TR 1.

Box 5 Gift Aid payments made in the year to 5 April 2015

Put the total Gift Aid payments you made from 6 April 2014 to 5 April 2015 in this box. Don’t include any payments under Payroll Giving.

Box 6 Total of any ‘one-off’ payments in box 5 To help us get your PAYE tax code right, if you have one, put any one-off payments you included in box 5 in box 6. These will be Gift Aid payments made from 6 April 2014 to 5 April 2015 that you do not intend to repeat in the year to 5 April 2016.

Box 7 Gift Aid payments made in the year to 5 April 2015 but treated as if made in the year to 5 April 2014

Put in box 7 any Gift Aid payments that you made between 6 April 2014 and 5 April 2015, which you want us to treat as if you made them in the tax year 6 April 2013 to 5 April 2014.

Box 8 Gift Aid payments made after 5 April 2015  but to be treated as if made in the year to

5 April 2015

If you want us to treat Gift Aid payments you made between 6 April 2015 and the date you  send us your tax return, as if you made them in the year to 5 April 2015, put the amount in box 8. For example, if you know you will not be paying higher rate tax this year but you did in the year  to 5 April 2015.

Box 9 Value of qualifying shares or securities gifted to charity

You can claim tax relief for any qualifying shares and securities gifted, or sold at less than their market value, to charities. Qualifying shares  and securities are:

  • those listed on a recognised stock exchange or dealt in on a designated market in the UK
  • units in an authorised unit trust
  • shares in an open-ended investment company
  • an interest in an offshore fund

Put in box 9 the net benefit of the shares or securities, minus any amounts or benefits received from the charity. Add any incidental costs for the transfer, such as brokers’ fees or legal fees.

A   For more information about charitable giving, go to www.hmrc.gov.uk/helpsheet342

Box 10 Value of qualifying land and buildings gifted to charity

You can claim tax relief for any gift or sale at less than market value, of a ‘qualifying interest in land’ – that is, the whole of your beneficial interest in that freehold or leasehold land in the UK.

Put in box 10 the net benefit of the land, minus any amounts or benefits received from the charity. Add any costs of the gift or sale, such as legal or valuer’s fees.

Box 11 Value of qualifying investments gifted to non-UK charities in boxes 9 and 10 You can claim relief for gifts of qualifying shares, securities, land or buildings to certain non-UK charities. If any amounts included in box 9 or  box 10 are to charities outside the UK, put the amount in box 11 and give us details in  ‘Any other information’ on page TR 7.

Box 12 Gift Aid payments to non-UK charities in box 5

You can claim relief for Gift Aid donations  to certain non-UK charities. If any amounts included in box 5 are to charities outside the UK, put the amount in box 12 and give us details  in ‘Any other information’ on page TR 7.

Blind Person’s Allowance

Box 14 Enter the name of the local authority or other register

If you live in England or Wales, the local authority will put your name on their register of sight impaired (blind) people when you show them an eye specialist’s certificate stating you are blind or severely sight impaired.

If you live in Scotland or Northern Ireland and  are not on a register, you can claim the allowance if your eyesight is so bad you cannot do any work for which eyesight is essential. Write ‘Scotland’  or ‘Northern Ireland’ in box 14.

Box 15 If you want your spouse’s, or civil partner’s, surplus allowance

Only put an ‘X’ in this box, if your spouse or civil partner has claimed Blind Person’s Allowance but does not have enough taxable income to use it all, and you want to claim the surplus.

Box 16 If you want your spouse, or civil partner,  to have your surplus allowance Only put an ‘X’ in the box if you claim the allowance but cannot use it all, and you want to give the balance to your spouse or civil partner.

If you put an ‘X’ in box 15 or box 16, please tell us your spouse’s or civil partner’s name and National Insurance number in ‘Any other information’ on page TR 7.

Student Loan repayments

Once the Student Loans Company (SLC) write  to tell you the date that you should start repaying your Income Contingent Repayment student loan, you can then fill in the student loan boxes.

Boxes 1 to 3

Put an ‘X’ in box 1 if you have received a letter

from the SLC.

In box 2, put the amount of any PAYE employment

student loan deductions.

Finally, put an ‘X’ in box 3 if you think that   you may fully repay your loan within the next   2 years.

A   For more detailed information about repaying your Student Loan, go to www.gov.uk/government/ publications/student-loans-collection-of-loansthrough-self-assessment or the SLC website studentloanrepayment.co.uk

High Income Child Benefit Charge

Fill in this section if during the tax year 2014–15 (that is, from 6 April 2014 to 5 April 2015):

  • your individual income was over £50,000, and
  • your income was higher than your partner’s income, and either

— you or your partner were entitled to receive  Child Benefit, or

— someone else claimed Child Benefit for       a child who lived with you

Box 1

Put the total amount of Child Benefit you or your  partner were entitled to receive during the tax year  2014–15. This is the amount of Child Benefit for a  full week, where a Monday falls within the   tax year. For 2014–15, the first week starts on

7 April 2014 and the last week starts on

30 March 2015.

Also put in box 1, the amount of Child Benefit  received if you or your partner:

  • started to get Child Benefit after 7 April 2014

– put the amount from the date it started to

5 April 2015

  • stopped getting Child Benefit before 6 April 2015 – put the amount received up to that date

Box 2

Put the total number of children you or your partner were entitled to receive Child Benefit for on 5 April 2015.

Box 3

If you or your partner stopped receiving all Child Benefit payments before 6 April 2015, put the date the payments stopped in box 3.

A   For help working out your Child Benefit payments, go to www.gov.uk/child-benefit-tax-calculator

For more about the High Income Child Benefit Charge, go to www.gov.uk/child-benefit-tax-charge

Service companies

You worked through a service company if:

  • you performed services for a client
  • you worked under a contract between the client and a company that you were a shareholder

of during the tax year

Do not fill in this box if all the income was employment income.

Example

Helen works through a service company. Her salary  is £15,000. She also receives £55,000 worth of dividends – £50,000 from the service company and £5,000 from  the shares portfolio.

Helen must exclude the shares portfolio dividends when working out her total income. She puts £65,000 in the service companies box (£15,000 salary plus £50,000  service company dividends).

Finishing your tax return

Calculating your tax

If we receive your paper tax return by the deadline, we will work out if you have any tax to pay and tell you before 31 January 2016. We will send you a tax calculation that also tells you if you  have to make payments on account for 2014–15. If you want to work out the amount of tax that you owe or may be repaid, use ‘A rough guide  to your tax bill’ on page TRG 12 of these notes.

Tax refunded or set off

This may be a repayment of CIS deductions  (if you work in the construction industry), PAYE tax or tax paid on savings income. It may also be an amount we reallocate to an existing debt.

If you have not paid enough tax

Boxes 2 and 3

If you owe less than £3,000 tax for 2014–15, we will try to collect it through your wages or pension from 6 April 2016. But, we can only do this if you send us your paper tax return by  31 October 2015 or file online by 30 December 2015 and:

  • you have enough wages or pension to collect           the tax you owe
  • it does not double the amount of tax you pay           on this income
  • it does not cause you to pay more than half              of this income in tax

Only put an ‘X’ in box 2 if you do not want us to do this and would prefer to pay any tax through your Self Assessment by 31 January 2016. If you are likely to owe tax for 2015–16, we will try to collect it through your wages or pension from 6 April 2015. If the income is more than £10,000 we will not normally do this. You may owe this tax if you receive:

  • Child Benefit payments and your income is             over £50,000, or
  • savings or investments income, or
  • property income, or
  • casual earnings or commission Only put an ‘X’ in box 3 if you do not want us to do this and would prefer to pay any tax through your Self Assessment by 31 January 2017.

A   For more information about paying directly to us, go to www.gov.uk/pay-self-assessment-tax-bill

If you have paid too much tax

If you paid your tax by credit or debit card, we will always try to repay back to your card first before making any repayment as requested by  you in boxes 4 to 14.

Boxes 4 to 8

Please fill in your account details carefully.

If they are wrong it will delay any repayment.

If you have a nominee put their account details  in each of the boxes.

Box 5 Name of account holder

The name of the account will be on your statements or chequebook. If it is a joint account, make sure you enter both names.

Boxes 6 and 7

Your branch sort code and account number  will be on your statements or chequebook.  Please make sure the number of digits is  the same as on your account.

Box 8 Building society reference number

Your account may have an extra reference number. It may be called a roll number, account reference  or account number. Only fill in box 8 if you want us to send a repayment to your building society.

Box 9 If you do not have a bank or building society account

Only put an ‘X’ in the box if you do not have  a bank or building society account.

Boxes 10 to 14

Only fill in boxes 10 to 14 if you have included your nominee’s account details in boxes 4 to 9.

Your tax adviser, if you have one

Box 15 Your tax adviser’s name

Please tell us your tax adviser’s name. If they work for a firm or a company, put the firm or company name in box 15.

Any other information

Please put any additional information in box 19.

This may include:

  • details of any untaxed UK interest and         foreign interest up to £2,000
  • any one-off pension payments you made
  • any gifts you made to charities outside the UK
  • details of any estimates you have used
  • the name and National Insurance number of your spouse or civil partner

Signing your form and sending it back

Please make sure you sign and date the form.  If you forget, we will send it back to you.

Box 20 If this tax return contains provisional  or estimated figures

If you put an ‘X’ in the box, you must tell us in ‘Any other information’ on page TR 7 why you have used provisional amounts and when you expect to give us your final figures.

Boxes 23 to 26

You only need to fill in these boxes if you:

  • are an executor dealing with a deceased’s estate from 6 April 2014 to the date the person died
  • are appointed by a UK court to complete      a tax return on behalf of someone who is not mentally capable of understanding it
  • have an enduring or lasting power of attorney to act on behalf of someone who is not physically or mentally capable of filling in a tax return If you have not previously sent evidence of your appointment, please send the original document with this tax return. We will send it back to you within 15 working days.

More help if you need it

If you are unable to go online:

  • phone the Self Assessment Orderline on       0300 200 3610 for paper copies of the helpsheets and forms
  • phone the Self Assessment Helpline on

0300 200 3310 for help with your tax return

We have a range of services for disabled people. These include guidance in Braille, audio and large print. Most of our forms are also available in large print. Please contact our helplines for more information.

 

These notes are for guidance only and reflect the position at the time of writing. They do not affect the right of appeal.

The Darien adventure mark 2

The two pictures below are of Cities at apposite ends of a short stretch of water called the Panama Canal. One city is Panama and the other is Colon. They are in the same country of Panama but they could not be any more different. One of these Cities houses a multitude of financial institutions specialising in Tax Avoidance and the other one doesn’t. Take a guess at which one is which. I suppose you could draw a parallel between say the City of London and Easterhouse

 

I visited Colon about three years ago whilst on a cruise, all passengers were advised that, whilst ashore and unless we were booked on an organised tour we should remain within the fenced off harbour area. I decided to walk into the town as is my normal pursuit when in these, shall we say less developed areas of the World. I could hardly believe my eyes at the abject poverty I witnessed, it was awful. Buildings, showing the signs of a colonial past were stripped bare of anything that could have been useful of valuable. There was not a single manhole cover on any of the footways as they had been taken for their metal value.

 

Whilst taking in these sights I was approached by four policemen on bicycles who asked me what I was doing there. I told them I was a passenger on the ship that had docked that morning and I was having a look around the City. They decided to accompany me, so I had an escort around the city for the rest of my time there and I must admit it was an unusual experience having traffic stopped to allow me to cross the roads. I did however witness untold poverty.

 

The other photo is of Panama City, so what is the difference? Well the difference is that in Panama City there is a huge traffic in money, yes Panama City is what is normally called an off shore tax haven. It is where people, corporations and even heads of Government set up company head offices and theoretically trade through them in order to avoid paying the tax in the countries in which they actually do their business. It is where, for instance David Cameron’s Father set up a unit trust fund , the purpose of which was to supposedly trade in currencies, the effect was to avoid paying the tax which would have fallen due had he set this fund up in the UK.

 

So, what, you might ask, what is the Panamanian government doing wrong, and the answer is, more than likely, nothing, because the companies based there are probably in the main conforming to Panamanian and international law and that is that they are offering a very low or nil rate of tax on investments. Together with a high degree of secrecy.

 

Ok so what’s the problem? Well the problem is that countries like the UK are governed by people who govern, not in the people’s interest, but in their own and their likes, interest and the government of the UK make it legal for companies to trade in the UK and then by devious ( but not illegal) means, move the profit base to a various offshore accounts where they are then taxed at the local rate. This of course means that the country in which the company actually generated the profit is deprived of the tax on the profit actually made.

 

So what can be done about this? Well actually it is pretty simple. All countries can pass laws that make it mandatory that tax is played on trading profit, with a reasonable allowance for expenses and depreciation of capital expenditure, but all within the trading account of the activities carried out within the borders and tax regime of that country and tax would be apportioned and paid on that basis.  It would of course be up to the individual company/individual to do what they wished with the net profit. So in other words, if it is made here, it is taxed here, dead simple.

 

Panama was once called Darien, in fact there is still a province of Panama with that name. Darien was the name given to a colony founded by Scots around about 1689. One of the main figures in that venture was a guy called William Patterson who as it happens was also instrumental in forming the Bank of England. The story of what became known as the Darien adventure is too complicated to recount here, but suffice it to say that most of the wealth of Scotland was invested in this venture which was to form a trading route across that narrow neck of land which is now the Panama Canal. This venture was thwarted by the English and the Spanish and as a result the venture failed. It was because of this that the now impoverished nobility of Scotland agreed to the Union between Britain (England and Wales) and Scotland ,which took place in 1707 forming Great Britain.

 

Now the “establishment “is in serious trouble because of the release of what is being called the panama papers centring around one particular firm of lawyers in Panama who “facilitated” many of these offshore transactions. I would like to think that we are witnessing the demise of the UK through their improper imposition of “establishment” biased laws with regards to tax evasion.

 

Wouldn’t it be ironic and a twist of fate if we were to become once more responsible for our own destiny through a reversal of something that happened 300 years ago?