robinson+co's Tax Questionnaires
robinson+co’s annual Tax Questionnaires have now been sent out to all our personal tax clients. They follow the same format as last year, a shorter, but nonetheless comprehensive, format which seemed to go down well with our clients
“We have the usual request, though,” says Brett Bennett, robinson+co’s Tax Manager: “the sooner we receive the completed questionnaire and associated paperwork, then the sooner we can advise you of any outstanding tax liability or claim repayment of any tax overpaid. January 2017, the deadline of the submission of the tax return, may seem a long way in the future but none of us want to be in a position of a last minute rush with your tax being calculated on the day it is due.”
Brett also comments that the Tax Team has noticed a couple of points of confusion and will be most grateful if you will ensure that you answer the questions accurately where they apply to you. “H M Revenue & Customs are picking up on these points and so it is very important that your tax return is accurate and complete in the first instance.” These issues are:
- Child Benefit claw back for where one person in the household earns over £50,000 per year. Please ensure that you let us know (a) whether you or your partner receive Child Benefit; (b) how much you received each 4 weeks in the year ended 5 April 2016; and (c) for how many children you were receiving Child Benefit at 5 April 2016.
- Student Loan Repayments. More and more of our clients are now affected by this and, again, it is important that you let us know if you have a Student Loan and the date on which you started studying. This date will affect when you start making repayments and at what level of income. In particular we need to know if your course started before or after 1 September 2012.
- Lastly, many people are still receiving repayments of “PPI.” As well as repayment of the contributions wrongly paid, you will also receive a payment for interest. The calculation of this is complicated and it is important that you retain all paperwork so that the interest element can be correctly included on your tax return.
“Please help us to help you by letting us have any information as soon as possible!” finishes Brett.
As ever you can contact him – or your normal tax adviser – on 01900 603623 with any queries.