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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 3933
Experience:  FCCA FCMA CGMA ACIS
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I have to complete my tax return by the end of month.I

Customer Question

I have to complete my tax return by the end of month.I work for a consultant company who pay me a reduced salary, NI etc. It is just an optimized tax strategy.
I have a loan amount that is paid to me.I believed i was on a DOTA scheme but that is not the case.I have a PD11 with the loan amount and P60 with salary . I need advice on what section and where to declare this in the self-assessment form
Submitted: 1 year ago.
Category: Tax
Expert:  bigduckontax replied 1 year ago.
Hello, I am Kith, one of the experts on Just Answer, and pleased to be able to help you with your question. Please elaborate on what you mean by a 'reduced salary?' Are you paid under PAYE arrangements?
Customer: replied 1 year ago.
Yes I have attached the P60 and PD11 in my question.All statutory payments are made by my employer. National Insurance contributions etcThe company have arranged a loan with a trust , and I was loaned the amount shown on the PD11.
Expert:  bigduckontax replied 1 year ago.
This is as I suspected and pretty simple. You will need to complete a SA100 and a SA102. The latter is pretty easy to do. You fill in boxes 1 and 2 from your P60 and box 15 from your P11d. The SA100 is effectively self explanatory. All these forms look daunting, but remember that you only have to fill in the relevant boxes which apply to you. You do not need to put in zeros elsewhere, in fact you do not need to enter anything unless it is relevant. Many people do not understand this and thrash about worrying about things which do not concern them. That is the trouble with these forms which are the same for the unemployed or the millionaire!
What a form the 11d is, everything except the kitchen sink!
I do hope that my reply had been of assistance.

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