»Ê¹ÚÌåÓýapp

»Ê¹ÚÌåÓýapp trustee is obliged to make a return containing the information we have requested that will enable us to establish the tax charge. This means that giving only a single profit or loss figure for a trade is not sufficient; we need the supporting information which establishes that figure as accurate. If you receive a return where annual turnover is £30,000 or more, the trustee must complete the Standard Accounts Information (SAI) in order to satisfy the requirements of Section 8 TMA 1970.

»Ê¹ÚÌåÓýappre may also be occasions when a return is received where the annual turnover is £30,000 or more and only the SAI boxes covering ‘turnoverâ€�, ‘other expensesâ€� and ‘net profitâ€� have been completed (boxes 1.29, 1.63 and 1.65). »Ê¹ÚÌåÓýapp return is unlikely to have been completed fully and correctly. Detailed accounts and computations may also be attached. A return filed in this form does not fully comply with the statutory notice.

When reviewing a return for missing details you should also check that the SAI details have been entered, if required.

See the subject ‘Examples Of Omission Of Particular Boxes� (SAM123185) regarding effects of the omission of details on the SAI.

Note: With the exception of partnerships who have a turnover of £15 million or more or CT partnerships, even where the accounts and computations have been sent with the return the SAI is not in the prescribed form. »Ê¹ÚÌåÓýapp return does not comply with the relevant notice and returns should be treated as unsatisfactory. See section ‘Unsatisfactory Trust Returnsâ€� (SAM123210).

»Ê¹ÚÌåÓýapp same criteria apply to returns filed over the Internet as to those submitted in paper form.

Note: »Ê¹ÚÌåÓýapp same principles which apply to completion of the SAI also apply to completion of income and expenses boxes on the Land and Property supplementary pages.