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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4972
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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Following the vodafone return of value income payment, it appears

Customer Question

Following the vodafone return of value income payment, it appears that tax has been deducted on the Tax voucher. My employment situation is that i am enployed and tax deducted at source, do i need to do a tax return?
Submitted: 3 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 3 years ago.
Hello and welcome to the site. Thank you for your question.

You have to consider
- if you are basic rate tax payer or higher rate tax payer?
- would this return of income value put you in higher rate tax bracket?
- is there any capital gain during the year

If the outcome is that you need to complete a tax return then you will have to register for self assessment.

More information on how to register for self assessment is here
http://www.hmrc.gov.uk/sa/introduction.htm

and who need to complete a tax return is here

http://www.hmrc.gov.uk/sa/need-tax-return.htm#1

I hope this is helpful and answers your question.


If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.


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