Tax Return notes

Tax year 6 April 2022 to 5 April 2023 (2022–23)

Use these notes to help

you fill in your tax return
These notes will help you to fill in your paper tax Tax return deadlines and penalties
return. Alternatively, why not complete it online? If you:
Because: • want to fill in a paper tax return, we must
• it’s quick, easy and secure receive it by 31 October 2023 (or 3 months after
• you’ll have an extra 3 months to send it to us the date on your notice to complete a tax return
• you do not have to complete it all at once – you if that’s later)
can save your details and finish it later if you want • decide to fill in your tax return online or you
miss the paper deadline, you must send it online
A For more information about Self Assessment Online, by 31 January 2024 (or 3 months after the date
go to [Link]/self-assessment-tax-returns on your notice to complete a tax return if that’s
later) – if you want us to use your tax code
If you have not completed a tax return online to collect any tax you owe through your
before, go to [Link]/log-in-file-self- wages or pension, you must file online by
assessment-tax-return 30 December 2023
The deadline for paying your tax bill, or any
A If you do not think you need to complete Class 2 National Insurance contributions (NICs),
a tax return for this year, check by going to
[Link]/check-if-you-need-a-tax-return
is 31 January 2024.
If we do not receive your tax return by the
deadlines, you’ll have to pay a £100 penalty –
even if you do not owe any tax. We’ll charge you
A If you do not need to fill in a return, you must contact
us by 31 January 2024 to avoid paying penalties. further penalties if your return is more than
3, 6 and 12 months late.
Contents
A For more information about penalties, go to
What makes up your tax return TRG 2 [Link]/self-assessment-tax-returns/penalties
Starting your tax return TRG 4
Income TRG 5 Before you start
Tax reliefs TRG 9 You may need the following documents to help
Student Loan and Postgraduate Loan you fill in the tax return:
repayments TRG 12 • your forms P60, ‘End of Year Certificate’,
High Income Child Benefit Charge TRG 12 P11D, ‘Expenses or benefits’ or P45, ‘Details of
Incorrectly claimed coronavirus support employee leaving work’, payslips or your P2,
scheme payments TRG 13 ‘PAYE Coding Notice’
• if you work for yourself, your profit or loss
Marriage Allowance TRG 13 account or your business records
Finishing your tax return TRG 14 • your bank statements, building society
Signing your form and sending it back TRG 15 passbooks, dividend counterfoils or
A rough guide to your tax bill TRG 17 investment brokers’ schedules
• personal pension contributions certificates
Do not send any receipts, accounts or other
paperwork or correspondence 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.

SA150 Notes 2022–23 Page TRG 1 HMRC 12/22

How to fill in your tax return 2 Self-employment
If you fill in a paper tax return please: Fill in the ‘Self-employment’ pages if you worked
• read the ‘Most people file online’ section for yourself or you were a subcontractor working
on the front of the form in the construction industry, and the total
• enter your figures carefully – if you make a turnover that would be taxed in the year from all
mistake, strike through the error and put the of your businesses was over £1,000.
correct details next to the box, otherwise we If you have not already registered for
may ask you to pay too much tax self-employment and Class 2 NICs, you must do
If you ask someone else to fill in your tax return, so now.
you’re still responsible for the information on it.
And you must sign the form. A For more information, go to
[Link]/working-for-yourself

What makes up your tax return

Trading Income Allowance
We’ve sent you a tax return that we think
matches your personal circumstances. But you If your combined receipts from self-employment
need to make sure the booklet has all the relevant (excluding Rent-a-Room trades) and certain
supplementary pages. miscellaneous income (read page TRG 8, Box 17
Other taxable income) are no more than £1,000
Please read the first 2 pages of your tax return
they are exempt from tax and do not need to be
(and read notes 1 to 9) before you fill in the
reported on a tax return unless the receipts are from
form. If you put ‘X’ in any of the ‘Yes’ boxes on
a connected party.
page TR 2, you need to fill in and send us the
supplementary pages for that income or gain If your income is £1,000 or less, you may choose
too. If you do not, we’ll treat your tax return as to complete the ‘Self-employment’ pages if:
incomplete and send it back to you. • your allowable expenses are higher than your
turnover and you want to claim relief for the
loss or carry forward a loss to be used against
A If you need any supplementary pages and notes to future profits
help you complete them, you can print them from
our website. Go to [Link]/taxreturnforms • you expect your turnover to exceed £1,000 in
the next tax year
• you want to voluntarily pay Class 2 National
1 Employment Insurance contributions to build entitlement to
You should fill in the ‘Employment’ page if you: contributory benefits like the State Pension
• were employed in full-time, part-time or • you want to preserve your record of
casual employment self-employment, for example to support an
• received income as a company director application for Maternity Allowance
• held an office, such as chairperson, secretary or • you would like to claim Tax-Free Childcare
treasurer and received income for that work based on your self-employment income
• worked for one person through another company • you’re a subcontractor and want to claim back
or partnership, for example, agency work tax deducted under the Construction Industry
• were resident in the UK and received an income Scheme (CIS)
from any foreign employment
If you were a subcontractor working in the A For more information on the trading income
allowance, go to [Link]/guidance/tax-free-
construction industry, do not include that income allowances-on-property-and-trading-income
on an ‘Employment’ page, see ‘2 Self-employment’.
You’ll need a separate ‘Employment’ page for
each job, directorship or office.

Page TRG 2
There are 2 types of ‘Self-employment’ pages. 5 Foreign
If your business is: Use the ‘Foreign’ pages if you received:
• straightforward and your annual turnover was • interest (over £2,000) and income from
less than £85,000, use the ‘Self-employment’ overseas savings
short pages • dividends (over £2,000) from foreign companies –
• more complex, or your annual turnover was if your only foreign income was untaxed foreign
£85,000 or more, or you need to adjust your interest up to £2,000 and or foreign dividends
profits, use the ‘Self-employment’ full pages up to £2,000, you can put these amounts in box 3
You’ll need separate ‘Self-employment’ pages and box 5 on page TR 3 of your tax return
for each business. instead of completing the ‘Foreign page’ (subject
If you worked with someone else in partnership, to the guidance on pages TRG 5 and 6)
use the ‘Partnership’ pages. • distributions and excess ‘reported income’ from
reporting offshore funds – this is taxable income
3 Partnership accumulating in an offshore fund that you
There are 2 types of ‘Partnership’ pages – short have not yet received
ones and full ones. Each partner must fill in their • overseas pensions (including taxable lump
own ‘Partnership’ pages, and one partner (the sums from overseas schemes treated as pension
‘nominated’ partner) will also have to complete the income), social security benefits and royalties
SA800, ‘Partnership Tax Return’. • income from land and property abroad
4 UK property (not furnished holiday lettings in the European
Economic Area, these go in the ‘UK property’
Fill in the ‘UK property’ pages if you received
pages) over £1,000 – if your total income
income from:
from UK and foreign property was £1,000 or
• any UK property rental including rents from
less, this may be exempted by the Property
land you own or lease out
Income Allowance, see ‘4 UK property’ or go
• furnished holiday letting from properties in
to [Link]/guidance/tax-free-allowances-
the UK or European Economic Area (EEA)
on-property-and-trading-income for more
• letting furnished rooms in your own home (but if
information
you provided meals and other services, you’ll need
• discretionary income from non-resident trusts
to fill in the ‘Self-employment’ pages)
• income or benefits from a person abroad or
of over £1,000 (including any income from a foreign
a non-resident company or trust (including
property business reported in the ‘Foreign’ pages).
a UK trust that has either been, or has received,
Property Income Allowance income from, a non-resident trust)
• gains on foreign life insurance policies or on
If your total property income (excluding income
disposals in offshore funds
eligible for Rent-a-Room relief) is not more than
£1,000 it is exempt from tax and does not need to You should also fill in the ‘Foreign’ pages if you
be reported on a tax return unless the income is are eligible to claim Foreign Tax Credit Relief or
from a connected party. Special Withholding Tax on income you report
on other pages.
If your income is no more than £1,000, you may
choose to complete the ‘UK property’ pages if: 6 Trusts etc
• your allowable expenses are higher than your Fill in the ‘Trusts etc’ pages if you were:
property income and you want to claim relief • a beneficiary of a trust (not a ‘bare’ trust) or
for the loss or carry forward a loss to be used settlement
against future profits • the settlor of a trust or settlement whose income
• you’re a non-resident landlord and you want is deemed to be yours
to claim back tax paid (in box 21), under the
non-resident landlord scheme If you received income from the estate of a person
who has died, do not fill in the ‘Trusts etc’ pages if:
If you claim the Rent-a-Room relief, you cannot • you were entitled to a fixed sum of money or
also claim the property income allowance on a specific asset
your Rent-a-Room income. • your legacy was paid with interest (put the
interest in box 1 or box 2 on page TR 3 of your
A For more information on the property income tax return)
allowance, go to [Link]/guidance/tax-free-
allowances-on-property-and-trading-income

Page TRG 3
• that income came from a specific estate asset, • received lump sums or compensation from your
for example, rents from an estate property employer, or foreign earnings not taxable in
Do not include in the ‘Trusts etc.’ pages, payments the UK
from a trust that were funded by a taxed lump • received income from a former employer
sum death benefit - these go in boxes 11 and 12 covered by third-party arrangements or
on page TR 3. ‘disguised remuneration’ rules
You should also fill in the ‘Additional
7 Capital gains summary
information’ pages if you:
Fill in the ‘Capital gains summary’ pages and • wish to claim
attach your computations if: – Married Couple’s Allowance
• you sold or disposed of chargeable assets which – employment deductions
were worth more than £49,200 – tax reliefs, for example, on maintenance
• your chargeable gains before taking off any payments or certain investments
losses were more than £12,300 – relief for losses from other income
• you want to claim an allowable capital loss or – relief now for the 2023 to 2024 tax year
make a capital gains claim or election for the year trading losses or certain capital losses
• you were not domiciled in the UK and are • are liable to pension savings tax charges, for
claiming to pay tax on your foreign gains on example, the annual allowance charge (including
the remittance basis overseas pension schemes)
• you’re chargeable on the remittance basis • need to tell us about a tax avoidance scheme
and have remitted foreign chargeable gains
of an earlier year A For more information about the tax charges on
• you sold or disposed of an interest in UK land pension savings, go to [Link]/tax-on-your-
or property and were not resident in the UK or private-pension
you were a UK resident and overseas during the A Your tax return should have all the relevant pages.
disposal If it does not, you’ll need to get the supplementary
• you submitted a Real Time Transaction return pages and relevant notes to help you complete them.
on the disposal of an asset and have not paid the Go to [Link]/taxreturnforms
full amount of Capital Gains Tax
You should fill in the ‘Additional information’
pages if you have any chargeable event gains. Starting your tax return
8 Residence, remittance basis etc Your personal details
You should fill in the ‘Residence, remittance
Box 1 Your date of birth
basis etc’ pages if you:
• are not a UK resident Make sure you tell us your date of birth. If you
• are eligible to overseas workday relief do not, you may not get all the allowances you’re
• arrived in the UK during the 2022 to 2023 entitled to.
tax year and became a UK resident Box 2 Your name and address
• want to claim split-year treatment
If the details are different or missing, for example,
• have a domicile outside the UK
because you moved address or printed the tax
• have foreign income or capital gains and want
return from the internet, write the correct details
to use the remittance basis for the 2022 to 2023
in or under the ‘Issue address’ on the front of the
tax year
form and put the date you changed address in
9 Additional information box 2. It’s important to keep your address details
Fill in these pages if you have: up to date, with HMRC, to make sure you’re
• interest from UK securities, peer-to-peer loans, paying the right rate of Income Tax. You’ll pay
deeply discounted securities and accrued the appropriate rate of income tax for the year
income profits depending on whether you lived in Scotland,
• gains from life insurance policies (chargeable Wales or the rest of the UK for the majority of the
event gains) tax year.
• stock dividends, bonus issues of securities and
redeemable shares A For information about income tax rates in Scotland and
the rest of the UK, go to [Link]/income-tax-rates
• business receipts taxed as income of an
earlier year A For information about income tax rates in Wales, go to
• income from share schemes [Link]/welsh-income-tax

Page TRG 4
Box 4 Your National Insurance number UK interest
If your National Insurance number is not at the Include in box 1 or 2 any interest from:
top of your tax return, it will be on: • bank and building society savings, including
• a payslip, P45 or your P60 for the year internet accounts
• a P2, ‘PAYE Coding Notice’ • UK authorised unit trusts, open-ended
• any letter from us or the Department for Work investment companies and investment trusts –
and Pensions these are paid without tax deducted – include
the full amount of these distributions in box 2
• National Savings and Investments accounts and
savings bonds
• taxable interest received on compensation
Example of a National Insurance number
payments, for example, payment protection
insurance (PPI)
Income • certificates of tax deposit
Interest and dividends from UK banks • credit unions and friendly societies
and building societies Do not include interest from UK government
This includes: securities (gilts), or interest from bonds, loan notes
• any interest you receive on bank, building society or securities issued by UK companies. These go
and other savings accounts in the ‘Additional information’ pages.
• dividends and other qualifying distributions from
Box 1 Taxed UK interest – the net amount after
UK companies and UK authorised unit trusts or
tax has been taken off
open-ended investment companies
• income from purchased life annuities Copy the net interest details from your statements
• interest you receive in non-cash form or electronic vouchers. If you have more than one
account, add up all your net interest and put the
Do not include any interest from Individual
total in box 1.
Savings Account (ISAs), Ulster Savings
Certificates, Save As You Earn schemes or as part Include any net income (after tax has been
of an award by a UK court for damages. taken off) from a purchased life annuity.
Use the details on your payment certificate and
We usually treat income from investments held
only put the income part of the payment in box 1.
in joint names as all receiving an equal share.
Do not include the rest of the payment.
However, if you hold unequal shares, you can
elect to receive the income and pay tax on those If you received cash or shares following the
proportions. Only put your share of any joint takeover or merger of building societies, you may
income on the tax return. have to pay tax on the income. If you do, include
it in box 1. If you’re not sure, put the amount
If a nominee receives investment income on your
in box 17 and give us details in ‘Any other
behalf, or if you’re a beneficiary of a bare trust,
information’ on page TR 7.
fill in boxes 1 to 5 on page TR 3 (not the ‘Trusts
etc’ pages). Box 2 Untaxed UK interest – amounts which
If you make gifts to any of your children who are have not had tax taken off
under 18 that produces more than £100 income If you have an account that pays you gross interest
(before tax), you need to include the whole amount (for example, a bank or building society account),
of the income in your tax return. put the gross amount in box 2.
If your bank or building society pays you an
alternative finance return or profit share return Box 3 Untaxed foreign interest (up to £2,000)
instead of interest, put the amount in box 1 if it If your only foreign income was untaxed foreign
is taxed, or box 2 if it is not. interest (of up to £2,000), put the amount (in UK
pounds) in box 3 instead of filling in the
‘Foreign’ pages.
You must put the name of the country where the
interest arose in ‘Any other information’ on
page TR 7.
If it was more than £2,000, you’ll need to fill in
the ‘Foreign’ pages.

Page TRG 5
UK dividends It is not possible to use a mix of both tax credit relief
You do not pay tax on the first £2,000 of and deduction relief on the same income source.
dividend income you receive (the dividend UK pensions, annuities and other
allowance). You pay tax on dividends above the
state benefits received
dividend allowance at the following rates:
• 8.75% on dividend income within the basic Not all benefits are taxable. Do not include
rate band the following in boxes 8 to 13:
• Attendance Allowance, lump sum Bereavement
• 33.75% on dividend income within the higher
Support Payment or Personal Independence
rate band
Payments
• 39.35% on dividend income within the additional
• State Pension Credit, Working Tax Credit,
rate band
Child Tax Credit or Universal Credit
Include all of your dividend income, even if it’s • additions to State Pensions or benefits for
less than £2,000, as it will count towards your dependent children
basic or higher rate bands and may affect the rate • income-related Employment and Support
of tax that you pay on dividends received in excess Allowance, Jobfinder’s Grant or Employment
of the £2,000 allowance. Zone payments
• Maternity Allowance
A For more information, go to [Link]/tax-on-dividends • War Widow’s Pension and some pensions paid
to other forces dependants if the death in service
Box 4 Dividends from UK companies – the was before 6 April 2005
amount received • pensions and other payments for disability,
Your dividend voucher will show your shares injury or illness due to military service
in the company, the dividend rate and dividend • some beneficiaries’ pensions where the member
payable. Put the total dividend payments in box 4. died before age 75
• overseas pensions – these go on the ‘Foreign’ pages
Include any dividends from employee share
schemes. Do not include:
• Property Income Distributions from Real A For more about what is and what is not taxable income,
go to [Link]/income-tax
Estate Investment Trusts (REITs) or Property
Authorised Investment Funds (PAIFs) – these go A For more about tax on beneficiaries’ pensions, go to
[Link]/tax-on-pension-death-benefits
in box 17, and the tax taken off in box 19 and for war widow(er) pensions, go to
• stock dividends or non-qualifying dividends – [Link]/war-widow-pension
these go in the ‘Additional information’ pages
Box 8 State Pension
Box 5 Other dividends – the amounts received
Use the letter ‘About the general increase in
This includes dividend distributions from
benefits’ that the Pension Service sent you to find
authorised unit trusts, open-ended investment
your weekly State Pension amount.
companies, and investment trusts. Put the amount
on your dividend voucher in box 5. Add up the amount you were entitled to receive
from 6 April 2022 to 5 April 2023 and put the
Include in box 5 any dividend from accumulation
total in box 8. For tax purposes, the correct
units or shares that are automatically reinvested.
amount is always the figure of weekly entitlement
Do not include any ‘equalisation’ amounts.
not the number of payments you received, so
Box 6 Foreign dividends (up to £2,000) this will be the first week at the old weekly
If your only foreign income was any interest in pension rate, plus 51 weeks at the new weekly
box 3 and dividends up to £2,000 and you’re pension rate.
claiming deduction relief, put the net amount of
foreign dividends (in UK pounds) in box 6.
Put the foreign tax taken off in box 7.
If your total dividend income (including UK and
foreign dividends) is over £2,000 and you’re
eligible to claim deduction relief or Foreign Tax
Credit Relief, do not include the foreign dividend
in this box. Complete the ‘Foreign’ pages instead.

Page TRG 6
 Example • from Additional Voluntary Contributions schemes
If your old weekly pension was £90 and your new weekly • for injuries at work or for work-related illnesses
pension is £100 (amounts used for illustrative purposes • from service in the Armed Forces
only): • from retirement annuity contracts or trust schemes
• First week at £90 = £90 • from the Financial Assistance Scheme
• 51 weeks at £100 = £5,100 • paid after age 75 as a serious ill-health lump sum
• Put in box 8 £5,190 or lump sum death benefit
However, if you reached state pension age before 6 April It also includes the taxable part of any:
2010 and 6 April 2022 falls on a Saturday, Sunday or • lump sums you received instead of a small pension
Monday, the increase is calculated at 52 times the (‘trivial commutation lump sum’)
new rate. • ‘uncrystallised funds pension lump sum’ you
withdrew under pension flexibility
Do not include any amount you received for Do not include non-taxable pension death benefits
Attendance Allowance. you’re first entitled to from 6 April 2015.
If your State Pension changed during the year or Please give us the following details in ‘Any other
you only received it for part of the year, multiply information’ on page TR 7:
each amount by the number of weeks that you • details of your pension or annuity payer and
were entitled to receive it. Add up your your reference number
amounts carefully. • your PAYE reference
If you do not have the letter from the Pension • the payment before tax and the amount of tax
Service, phone them on 0800 731 0469 taken off
(textphone 0800 731 0464) and ask them for • if you received a taxable lump sum death benefit
the information. through a trust, the name, date of birth and
If you received a lump sum because you deferred date of death of the member who has died, from
your State Pension from an earlier year, put the your R185 (Pension LSDB) certificate – put the
amount in box 9, not in box 8. gross amount and tax paid figures from your
certificate in boxes 11 and 12
Do not include State Pension Credit, the Christmas
bonus, Winter Fuel Payment or any addition for 10% deduction
a dependent child. If you receive a UK pension for former service to
an overseas government, only 90% of the basic
Boxes 9 and 10 State Pension lump sum
pension is taxable in the UK. Take 10% off the
Only fill in box 9 if you deferred your value of the pension before you put the amount in
State Pension for at least 12 months and chose box 11.
to receive it as a one-off lump sum in the
The territories are:
2022 to 2023 tax year. Put the gross amount
• any country forming part of His Majesty’s
(before tax taken off) in box 9 and the tax taken
dominions
off in box 10. Do not include any lump sum
• any Commonwealth country (excluding the UK)
amount in box 8.
• any territory under His Majesty’s protection
Box 11 Pensions (other than State Pension),
retirement annuities and taxable lump sums A For more about tax on pensions, go to
treated as pensions [Link]/tax-on-pension
Your pension payer will give you a P60, ‘End of  For help about payments from the Financial Assistance
Scheme covering several years, go to
Year Certificate’ or similar statement. Add up
[Link]/our-members/what-it-means-fas
your total UK retirement annuities and pensions
(not the State Pension), and put the total gross
amount (before tax taken off) in box 11.
This includes taxable pensions:
• from your, or your deceased family member’s
employer
• from personal pension plans and stakeholder
pension plans
• paid as drawdown pensions from a registered
pension scheme

Page TRG 7
 which
7 Tax taken off foreign dividends – the sterling equivalent

£ • 0 0

not
Box 12 Tax taken off box 11 Pay but only if paid by HM Revenue and
Use the P60 or certificate your pension payer Customs (not your employer)
gave you, and put the total amount of tax taken Do not include the Christmas Bonus and Winter
off received
benefits all your pensions in box 12. Fuel Payment, or any Cold Weather Payments.

e in the 12 Tax taken off box 11 Other UK income not included on

e notes supplementary pages
£ 6 4 0 • 0 0
Box 17 Other taxable income
13 Taxable Incapacity Benefit and contribution-based This includes:
Example of tax return, box 12
Employment and Support Allowance - read the notes
• miscellaneous income – for example, from casual
If your£P60 shows that you• received 0 0 a refund, earnings, commission or freelance income (not
it will have an ‘R’ next to it. Put a minus sign exempted by the trading income allowance)
in14theTax
shaded
takenbox in front of
off Incapacity the figure.
Benefit in box 13 • taxable coronavirus support payments (if not
Box 13£ Taxable Incapacity • 0 0
Benefit and reported elsewhere in this tax return)
contribution-based Employment and • business receipts where your business has ceased
15 Jobseeker’s Allowance
Support Allowance (ESA) • P
 roperty Income Distributions (PIDs) from
Real Estate Investment Trusts (REITs) and
oss Not all£Incapacity Benefit is • 0 0
taxable. It is not
Property Authorised Investment Funds (PAIFs)
taxable in the first 28 weeks of incapacity or if
16 Total of any other taxable State Pensions and benefits• payments from a personal insurance policy
your incapacity began before 13 April 1995 and
£ been getting it for• the 0 same
0 for sickness or disability benefits
you have illness
• income from unauthorised unit trusts
ever since.
plementary pages • taxable annual payments
All contribution-based Employment and Support • profits from certificates of deposit
ned on supplementary pages. Share schemes, gilts, stock dividends,
Allowance and ESA Time Limited Supplementary • non-cash benefits you received for being
o on the ‘Additional information’ pages.
Payment (paid Northern Ireland only) is taxable. a former employee
Use20 the P60(IB),
Benefit fromP45(IB),
pre-owned P60(U)
assets -or P45(U)
read that
the notes • the following authorised payments from
the Department for Work and Pensions (DWP) an overseas pension scheme:
£ • 0 0
gave you. Put the total taxable amount of your – the taxable part of an ‘uncrystallised funds
benefit or allowance in box 13 and any tax
21 Description of income in boxes 17 and 20 – if theretaken pension lump sum’, a winding-up lump sum or
tes off your payments
is not in box
enough space 14.
here please give details in the a trivial commutation lump sum
‘Any other information’ box, box 19, on page TR 7 – payments after age 75 as a serious ill-health
Box 15 Jobseeker’s Allowance lump sum or authorised lump sum death benefit
Use the P60(IB), P45(IB), P60(U) or P45(U) that
If you’re unsure if any income is taxable, please
DWP gave you and put the total amount of
contact the payer of the income to confirm how it
Jobseeker’s Allowance in box 15.
should be treated before completing this box.
If you stopped claiming before 5 April 2023,
Receipts from self-employment (read page TRG 2
Page TR you’ll1find the total amount on your P45(U).
of these notes) and certain miscellaneous income
Box 16 Total of any other taxable State Pensions of £1,000 or less are exempt from tax and do
and benefits not need to be reported on a tax return. If the
If you had any of the following, add up your total receipts from both are more than £1,000,
payments and put the total in box 16. the ‘Self-employment’ pages must be completed
• Bereavement Allowance or Widow’s Pension to report the self-employment income and the
• Widowed Parent’s Allowance or Widowed miscellaneous income must be reported in box 17.
Mother’s Allowance Do not include any income from your employment,
• Industrial Death Benefit self-employment or capital gains, or any
• Carer’s Allowance or Carer’s Allowance miscellaneous income exempted by the trading
Supplementary Payment (where received to income allowance. If you’ve already claimed part
replace Carer’s Allowance - paid Northern or all of your £1,000 trading income allowance
Ireland only) against self-employment income, then it’s the
• Carer’s Allowance Supplement (where received unused amount, if any, that is exempt here and
as an extra payment for people in Scotland who you should still show any miscellaneous income
get Carer’s Allowance) exceeding that amount in Box 17.
• Statutory Sick Pay or Statutory Maternity,
Paternity or Adoption Pay and Shared Parental
Page TRG 8
 Example – owned and sold property and used the
Tony has self-employed income of £500 and
proceeds to buy the property you’re now
miscellaneous income of £800. benefiting from
– gave someone else property, including cash,
As this income is over £1,000 it has to be reported in his
tax return.
and they used it to buy the property you’re
now benefiting from
Tony puts £500 in box 9 (Turnover) and £500 in box
– settled assets into the trust that you can
10.1 (Trading income allowance) of his Self-employment
(short) pages.
benefit on
Amount of allowance remaining = £500 Please tell us in box 21 how you worked out the
benefit or charge that you put in box 20.
Tony puts £300 in box 17 (£800 minus £500 (remaining
amount of trading income allowance)). Do not include the benefit if:
• the property could be liable to Inheritance Tax
Make sure you tell us what this income is in box 21. when you die
• the total benefit for the year is £5,000 or less
A For more information on the trading income • you made the cash gift before 6 April 2015
allowance and miscellaneous income that attracts
the allowance, go to [Link]/guidance/tax-free-
allowances-on-property-and-trading-income
A For more information about pre-owned assets and
help working out your benefit either:
For more information on other income, go to • go to [Link]/government/collections/
[Link] and search for ‘HS325’. hmrc-manuals and read page IHTM44000 in the
Inheritance Tax Manual
• phone the Probate and Inheritance Tax Helpline
Box 18 Total amount of allowable expenses on 0300 123 1072
This includes any expenses that:
• you had to spend solely to earn the income
• were not for private or personal use Tax reliefs
• were not capital items, such as a computer This section covers tax relief for payments to
If you use your £1,000 trading income pension schemes, charities and for Blind Person’s
allowance against your miscellaneous income Allowance. If you wish to claim other reliefs, for
or self-employment income do not include example, Married Couple’s Allowance where one
any amounts you had to spend to earn this of the couple was born before 6 April 1935, please
miscellaneous income in box 18. use the ‘Additional information’ pages.
Make a note in box 21 of the amount of Your PAYE tax code may be affected by
trading income allowance claimed against your information you supply in your tax return if we
miscellaneous income. receive it before 31 December 2023.
Box 20 Benefit from pre-owned assets If you expect any of the amounts or claims in
boxes 2, 5, 6 or 13 to change during the 2023 to
Pre-owned assets (property) includes land and
2024 tax year, you must inform HMRC to ensure
buildings or chattels, for example, works of art,
we update your current PAYE tax code.
furniture, antiques, cars or yachts, or any assets
held in a settlement.
You may have to pay a tax charge on benefits A For more information, go to
[Link]/tax-codes/updating-tax-code
received if you previously owned or helped to buy
assets (pre-owned assets (POA)).
Paying into registered pension schemes
You may have to pay tax if:
and overseas pension schemes
• during 2022 to 2023 tax year you
– occupied land without paying a full market Fill in boxes 1 to 3 for payments to registered
rent for it pension schemes and box 4 for payments to
– used or enjoyed goods without paying fully for overseas pension schemes.
the benefit You can claim tax relief on your personal
– could benefit from property you’ve settled if contributions to a registered pension scheme if you
income from the property is treated as yours paid them before you reached age 75 and have:
• and at some time since 17 March 1986 you • been a UK resident in the tax year
– owned the property you’re now
benefiting from
Page TRG 9
• had taxable UK earnings, such as employment Example
income or profits from self-employment Emma paid £700 into her pension scheme. She puts £875
• had UK taxable earnings from overseas Crown in box 1 (£700 divided by 80 and multiplied by 100),
employment (or your spouse or civil partner did) which is her net payment plus the tax relief of £175
• been a UK resident when you joined the pension (£875 at 20%).
scheme, and at any time in the 5 tax years before
2022 to 2023 tax year If you pay tax at a rate above 20% you should
Do not include any amounts for: still fill in box 1 with the amount you paid in plus
• personal term assurance contributions the basic rate (20%) tax relief. We’ll work out
• your employer’s own contributions the extra tax relief due to you over the basic rate
• contributions taken from your pay before it claimed by your pension provider.
was taxed Box 1.1 Total of any ‘one-off’ payments in box 1
To help us get your PAYE tax code right, if you
A For more information, go to [Link]/pension-types have one, put the total of any one-off payments
(included in box 1) that you made in the tax year
Limits to relief to 5 April 2023 in box 1.1. One-off payments are
payments made in the year to 5 April 2023 that you
The maximum personal contributions you can
do not intend to repeat in the year to 5 April 2024.
claim tax relief on is either:
• up to the amount of your taxable UK earnings in
Personal contributions with full relief
the tax year
still to claim
• up to £3,600 gross (that is, £2,880 you paid
plus £720 tax relief claimed by your pension Box 2 Payments to a retirement annuity contract
provider) to a ‘relief at source’ scheme only If your retirement annuity contract (RAC) provider
The limits also apply to overseas pension schemes. does not use the ‘relief at source’ scheme they do
not claim the basic rate (20%) tax relief on your
If your pension savings are more than
behalf. Put your total personal contributions to the
the Annual Allowance, and a tax charge
RAC in the 2022 to 2023 tax year in box 2.
is due, you must use the ‘Additional
information’ pages and pay a tax charge. Box 3 Payments to your employer’s scheme
which were not deducted from your pay
A For more information on the Annual Allowance, go to before tax
[Link] and search for ‘HS345’, or go to In some schemes, an employer takes your personal
[Link]/tax-on-your-private-pension
contributions from your pay before they tax
what’s left. If you (or someone else who is not
Personal contributions that had tax relief your employer) paid into such a scheme and no
in the scheme tax relief was given, you can claim that tax relief
Box 1 Payments to registered pension schemes now. Put the total unrelieved amount you paid in
operating ‘relief at source’ the 2022 to 2023 tax year in box 3.
Under the ‘relief at source’ system, your pension This may happen if:
provider claims basic rate tax relief (of 20%) on • you paid more contributions than you earned in
your personal contributions and adds that to your that job
pension pot. • your employer could not take any contributions
Put the total amount in box 1 – that is, your from your pay before taxing it, for example if
personal contributions paid to the scheme, plus you were paid close to 5 April
the basic rate tax relief. Include any one-off • you’re not an employee but are a member of
payments you made in the year 2022 to 2023. a public services pension scheme or a marine
One-off payments are payments made in the year pilots’ fund
to 5 April 2023 that you do not intend to repeat Do not include any personal contributions that
in the year to 5 April 2024. had relief at source, such as a group personal
Use the pension certificate or receipt you get from pension scheme.
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.

Page TRG 10
Box 4 Payments to an overseas pension scheme Box 9 Value of qualifying shares or securities
You may get tax relief if you’re eligible for migrant gifted to charity
member relief, transitional corresponding relief or You can claim tax relief for any qualifying shares
relief under a double taxation agreement. Put the and securities gifted, or sold at less than their
amount that qualifies for tax relief in box 4. market value, to charities. Qualifying shares
and securities are:
Charitable giving • those listed on a recognised stock exchange or
Tell us about the gifts to charities and Community dealt in on a designated market in the UK
Amateur Sports Clubs (CASCs) that you’re • units in an authorised unit trust
claiming relief for. • shares in an open-ended investment company
• an interest in an offshore fund
A For more information about giving to charity, go to Put in box 9 the net benefit of the shares or
[Link]/donating-to-charity securities, minus any amounts or benefits received
 For an A to Z of registered CASCs, go to from the charity. Add any incidental costs for the
[Link]/government/publications/community- transfer, such as brokers’ fees or legal fees.
amateur-sports-clubs-casc-registered-with-hmrc--2

Gift Aid
A For more information about charitable giving, go to
[Link] and search for ‘HS342’.
Gift Aid is a tax relief for gifts of money to
charities and CASCs. Box 10 Value of qualifying land and buildings
If you pay tax at a rate above the basic rate, gifted to charity
you’re entitled to additional tax relief – the You can claim tax relief for any gift or sale at
calculation works it out for you. less than market value, of a ‘qualifying interest
in land’ – that is, the whole of your beneficial
Box 5 Gift Aid payments made in the year
interest in that freehold or leasehold land in
to 5 April 2023
the UK.
Put the total Gift Aid payments you made from
6 April 2022 to 5 April 2023 in this box. Do not Put in box 10 the net benefit of the land, minus
include any payments under Payroll Giving. any amounts or benefits received from the charity.
Add any costs of the gift or sale, such as legal or
Box 6 Total of any ‘one-off’ payments in box 5 valuer’s fees.
To help us get your PAYE tax code right, if
you have one, put any one-off payments you Box 11 Value of qualifying investments gifted
included in box 5 in box 6. These will be Gift Aid to non-UK charities in boxes 9 and 10
payments made from 6 April 2022 to You can claim relief for gifts of qualifying shares,
5 April 2023 that you do not intend to repeat in securities, land or buildings to certain non-UK
the year to 5 April 2024. charities. If any amounts included in box 9 or
box 10 are to charities outside the UK, put the
Box 7 Gift Aid payments made in the year to amount in box 11 and give us details in
5 April 2023 but treated as if made in the year ‘Any other information’ on page TR 7.
to 5 April 2022
Put in box 7 any Gift Aid payments that you made Box 12 Gift Aid payments to non-UK charities
between 6 April 2022 and 5 April 2023, which in box 5
you want us to treat as if you made them in the You can claim relief for Gift Aid donations
tax year 6 April 2021 to 5 April 2022. to certain non-UK charities. If any amounts
included in box 5 are to charities outside the UK,
Box 8 Gift Aid payments made after put the amount in box 12 and give us details
5 April 2023 but to be treated as if made
in ‘Any other information’ on page TR 7.
in the year to 5 April 2023
If you want us to treat Gift Aid payments you made Blind Person’s Allowance
between 6 April 2023 and the date you send us
Box 14 Enter the name of the local authority
your tax return, as if you made them in the year
or other register
to 5 April 2023, put the amount in box 8. For
If you live in England or Wales, the local authority
example, if you know you’ll not be paying higher
will put your name on their register of sight
rate tax this year but you did in the year
impaired (blind) people when you show them an
to 5 April 2023.

Page TRG 11
eye specialist’s certificate stating you’re blind or In box 3, put the total amount of all Postgraduate
severely sight impaired. Loan deductions taken from all PAYE
If you live in Scotland or Northern Ireland and employments. You will find this information on
are not on a register, you can claim the allowance your P60 and payslips.
if your eyesight is so bad you cannot do any work
for which eyesight is essential. Write ‘Scotland’ High Income Child Benefit Charge
or ‘Northern Ireland’ in box 14.
Fill in this section if during the 2022 to 2023
If you asked your eye specialist to tell tax year:
HMRC that you’re sight impaired write ‘specialist’ • your adjusted net income was over £50,000
in box 14. • your adjusted net income was higher than your
partner’s adjusted net income, and either
Box 15 If you want your spouse’s, or
­– you or your partner got Child Benefit
civil partner’s, surplus allowance
payments
Only put ‘X’ in this box, if your spouse or civil
– someone else claimed Child Benefit for
partner has claimed Blind Person’s Allowance but
a child who lived with you
does not have enough taxable income to use it all,
and you want to claim the surplus.
A For help working out your adjusted net income, go to
[Link]/guidance/adjusted-net-income
Box 16 If you want your spouse, or civil partner,
to have your surplus allowance
Box 1
Only put ‘X’ in the box if you claim the allowance
Put the total amount of Child Benefit payments
but cannot use it all, and you want to give the
you or your partner got for the 2022 to 2023
balance to your spouse or civil partner.
tax year.
If you put ‘X’ in box 15 or box 16, please tell us
If you and your partner commenced or ceased
your spouse’s or civil partner’s name and National
living together during the tax year, their income
Insurance number in ‘Any other information’ on
was over £50,000 and greater than your income,
page TR 7.
then enter the amount of child benefit you
received whilst you lived alone. Your partner will
Student Loan and Postgraduate Loan need to enter the amount of child benefit received
when you lived together on their tax return. They
repayments will need to be registered for Self-Assessment to
The Student Loans Company (SLC) will write do this.
to tell you the date that you should start repaying
If the Child Benefit claimant applied to the EU
your Income Contingent Repayment Loan. You
Settlement Scheme (EUSS) after 30 June 2021, do
must fill in the Student Loan and or Postgraduate
not include payments for the period between 1
Loan boxes from this date. We’ll use the loan and
July 2021 and the date of their EUSS application.
or plan type held by SLC to work out any Student
Do not include any arrears payments received that
Loan and or Postgraduate Loan repayment.
relate to previous tax years. This is the amount of
Child Benefit payments for a full week, where a
A For more detailed information about repaying your Monday falls within the tax year. For the 2022 to
Student Loan, go to [Link]/guidance/tell-hmrc-
about-a-student-loan-in-your-tax-return 2023 tax year, the first week starts on Monday 11
and [Link]/repaying-your-student-loan April 2022 and the last week starts on Monday
3 April 2023. There are 52 Mondays in the 2022
Boxes 1 to 3 to 2023 tax year. If you got payments for the full
Put ‘X’ in box 1 if you’ve received a letter from year, put the total for 52 weeks in box 1.
the SLC notifying you that repayment of an Also put in box 1, the amount of Child Benefit
Income Contingent Loan began before payments you got if you or your partner:
6 April 2023. • started to get Child Benefit payments on or after
In box 2, put the total amount of all Student Loan 6 April 2022 – put the amount from the date it
deductions taken from all PAYE employments. started to 5 April 2023
You’ll find this information on your P60 and • stopped getting Child Benefit payments before
payslips. 6 April 2023 – put the amount received up to
that date

Page TRG 12
Box 2 You may want to consider claiming to reduce
Put the total number of children you or your your payments on account for 2023–24.
partner got Child Benefit payments for on Read the notes in section 12 of the ‘Tax
5 April 2023. calculation summary notes’ for more details.
Box 3 Box 1 Amount of HMRC coronavirus support
If you or your partner stopped getting all Child scheme payments incorrectly claimed
Benefit payments before 6 April 2023 (but after If an error has been made in a claim that has
5 April 2022), put the date the payments stopped resulted in you receiving too much of an HMRC
in box 3. coronavirus support scheme payment you must
If you have to pay the High Income Child Benefit pay this back to HMRC. If you have not put that
Charge for the 2023 to 2024 tax year and you do right already by making a voluntary adjustment
not want us to collect it through your pension or or repayment that was agreed by HMRC, put
wages by adjusting your 2023 to 2024 tax code the incorrectly claimed amount in box 1. Do not
during the year, put ‘X’ in box 3 on page TR6. include any payments that you were entitled to
or have already repaid or been assessed on as this
A For help working out your Child Benefit payments will lead to you paying too much tax.
received, go to [Link]/child-benefit-tax-calculator
For more about the High Income Child Benefit Charge,
go to [Link]/child-benefit-tax-charge Marriage Allowance
If your earnings from 6 April 2022 to
Incorrectly claimed coronavirus 5 April 2023 were less than £12,570 (plus up to
£6,000 in savings interest), you could benefit as
support scheme payments
a couple if you transfer £1,260 of your personal
Only fill in this section if you incorrectly claimed allowance. You must fill in boxes 1 to 5 and put
any payments from the Coronavirus Job Retention your date of birth in box 1 on page TR 1.
Scheme (CJRS) or from any other applicable HMRC
By transferring £1,260 of your personal allowance
coronavirus support scheme and you have not:
to your spouse or civil partner to reduce the
• already told HMRC about these amounts
amount of tax they pay by up to £252, you may
• received an assessment issued by an officer of
have to pay some tax yourself. To be able to
HMRC for these amounts
benefit, all of the following must apply:
lf you received a CJRS, or any other applicable • you were married to, or in a civil partnership
HMRC coronavirus support scheme payment that with, the same person for all or part of the
you were entitled to, do not include them here. tax year
Instead, include them in the relevant boxes of the • you do not claim Married Couple’s Allowance
supplementary pages for your business. • your partner’s income was not taxed at a rate
If you were not entitled to some or all of the other than the basic rate, the dividend ordinary
payments received and you have not told HMRC, rate or the starting rate for savings
we have the right to assess and recover the full
amount of any incorrectly claimed payment by A Use the Marriage Allowance calculator to see if you
making an ‘officer’s assessment’ for the amount can benefit, go to [Link]/marriage-allowance
that you were not entitled to and have not repaid. For more about personal allowances and tax rates,
go to [Link]/income-tax-rates
If we have already contacted you to raise an
assessment, you do not need to declare the If you do not live in the UK but are a citizen of a
overpaid amounts in this section. European Economic Area (EEA) country, you can
For more information on receiving payments you still make a transfer but your worldwide income
were not entitled to and penalties, see factsheets (in UK pounds) must be less than your personal
CC/FS48 and CC/FS11. Go to [Link] and allowance for you to be eligible.
search for ‘CC/FS48’ and ‘CC/FS11’. If you or your partner were born before
The amount entered in box 1 will be added to 6 April 1935, you may benefit more as a couple
your income tax liability. This may affect whether by claiming Married Couple’s Allowance instead
or not you’re required to make payments on of Marriage Allowance. You cannot have both.
account for 2023–24, or may increase the amount
of payment on account you have to pay.

Page TRG 13
 A For more information about Married Couple’s Allowance, 30 December 2023, and:
go to [Link]/married-couples-allowance • you have enough wages or pension to collect
the tax you owe
• it does not double the amount of tax you pay
Finishing your tax return on this income
• it does not cause you to pay more than half
Calculating your tax
of this income in tax
If we receive your paper tax return by the deadline,
We cannot collect any Class 2 National Insurance
we’ll work out if you have any tax to pay and tell
Contributions (NICs) this way as it may affect
you before 31 January 2024. We’ll send you a
your claim to certain benefits.
tax calculation that also tells you if you have to
make payments on account for the 2023 to 2024 The deadline for paying Class 2 NICs is
tax year. 31 January 2024.

A For more information about payments on account, A For more, go to [Link]/national-insurance

go to [Link]/understand-self-assessment-bill/
payments-on-account
Only put ‘X’ in box 2 if you do not want us to do
this and would prefer to pay any tax through your
If you want to work out the amount of tax that Self Assessment by 31 January 2024.
you owe or may be repaid, use ‘A rough guide
to your tax bill’ on page TRG 17 of these notes. Box 3
The guide does not take in to account any If you’re likely to owe tax on:
payments on account that you’ve already made • Child Benefit payments (the High Income Child
towards your 2022 to 2023 Self Assessment Benefit Charge)
tax bill. • savings or investments income
• property income
Tax refunded or set off • casual earnings or commission
Box 1 for the 2023 to 2024 tax year, we’ll try to
If you’ve received a tax refund (rebate) because collect it through your wages or pension from
you: 6 April 2023.
• stopped working and made an in-year If the income is more than £10,000 we’ll not
repayment claim from tax paid on your normally do this.
– employment Only put ‘X’ in box 3 if you do not want us to
– self-employment in the construction do this and would prefer to pay any tax through
industry scheme (CIS) your Self Assessment by 31 January 2024.
• claimed the tax you paid on trivial
pension income A For more information about paying directly to us,
• sent an in-year tax return to claim a refund go to [Link]/pay-self-assessment-tax-bill
on tax paid
• received a repayment from the job centre after
If you’ve paid too much tax
6 April
If you paid your tax by credit or debit card, we’ll
put the amount refunded in the box.
always try to repay back to your card first before
If you’re amending your tax return, do not include making any repayment you ask for in boxes 4 to 14.
any repayment you received from us after you
If you’ve paid your 2023 to 2024 payments on
filed your original return.
account well in advance of their due date, do not
If you have not paid enough tax complete boxes 4 to 14 as it might cause them to
be refunded.
Box 2
If you owe less than £3,000 tax for the 2022 to Boxes 4 to 8
2023 tax year, we’ll try to collect it through your Please fill in your account details carefully.
wages or pension from 6 April 2024. But, we can If they’re wrong it will delay any repayment.
only do this if we receive your paper tax return If you’ve a nominee put their account details
by 31 October 2023 or file online by in each of the boxes.

Page TRG 14
Box 5 Name of account holder Signing your form and sending it back
The name of the account will be on your Please make sure you sign and date the form
statements or chequebook. If it’s a joint account, yourself. If you forget, we cannot accept it and
make sure you enter both names. will have to send it back to you.
Boxes 6 and 7 Box 20 If this tax return contains
Your branch sort code and account number provisional figures
will be on your statements or chequebook. Only put ‘X’ in this box if you have used
Please make sure the number of digits is the provisional figures and you intend to send final
same as on your account. figures as soon as you can. You must tell us in
Box 8 Building society reference number ‘Any other information’ on page TR 7 why you
have used provisional amounts and when you
Your account may have an extra reference
expect to give us your final figures.
number. It may be called a roll number, account
reference or account number. Only fill in box 8 Do not put ‘X’ in box 20 if you’ve used estimated
if you want us to send a repayment to your figures, but tell us in the ‘Any other information’
building society. box why you have.

Box 9 If you do not have a bank or building Box 20.1 Coronavirus support payments
society account declaration
Only put ‘X’ in the box if you want us to send If your business received and retained any
you a cheque, or you do not have a bank or coronavirus support scheme payments put ‘X’
building society account. in box 20.1 to confirm that these payments have
been included as taxable income in the relevant
Boxes 10 to 14 boxes of this tax return for the purposes of
Only fill in boxes 10 to 14 if you’ve included your calculating your profits.
nominee’s account details in boxes 4 to 9.
Read the guidance for the relevant supplementary
Your tax adviser, if you have one pages for your businesses for further details on
where to include these payments.
Box 15 Your tax adviser’s name
You do not need to complete this box if your only
Please tell us your tax adviser’s name. If they work
support payments received were as a result of
for a firm or a company, put the firm or company
being furloughed as an employee.
name in box 15.
Boxes 23 to 26
Any other information
You only need to fill in these boxes if you:
Box 19 Please give any other information in • are an executor dealing with a deceased’s estate
this space from 6 April 2022 to the date the person died
This may include further details of: • are appointed by a UK court to complete
• any untaxed foreign interest up to £2,000 a tax return on behalf of someone who is not
• any gifts you made to charities outside the UK mentally capable of understanding it
• any estimates or provisional figures you’ve used • have an enduring or lasting power of attorney
• the name and National Insurance number of to act on behalf of someone who is not physically
your spouse or civil partner or mentally capable of filling in a tax return
Figures entered in this box will not be included If you have not previously sent evidence of your
in your tax calculation. Any figures that affect appointment, please send the original document,
the tax you need to pay should be entered in the or certified copy, with this tax return.
correct section of the tax return. A certified copy should be signed and certified
as a true and complete copy, on every page, by
either the donor of the power, a solicitor or
a stockbroker. We’ll send it back to you within
15 working days.

Page TRG 15
More help if you need it
To get copies of any tax return forms or
helpsheets go to [Link]/taxreturnforms
You can phone the Self Assessment Helpline on
0300 200 3310 for help with your tax return.

A Personal Allowance
£12,570 – if your total income is between £100,000 and
£125,140 reduce £12,570 by £1 for every £2 your income
exceeds £100,000. If your total income is £125,140 or
more Personal Allowance is zero. Blind Person’s Allowance,
if claimed, is £2,600.

A Tax rate bands *£10,955 and £37,700 can be

increased by any personal pension payments (box 1 on
page TR 4) and grossed up Gift Aid (box 5 minus box 7 +
box 8 on page TR 4 x 100/80). Income Tax in box 1 uses
the £0 to £37,700* and next £112,300* tax bands first,
then savings, dividends and Capital Gains.
*If you’re a Scottish taxpayer, the Scottish Income Tax rates
and bands may be different from the rest of the UK.
For Scottish taxpayers the tax bands for income in
boxes 1 to 3 only are *£2,162, *£10,956, *£17,974
and *£118,908.

A Savings Allowance - you are eligible for

£1,000. But if you’re taxable at 40%/41% (box 5) or 33.75%
(box 7) it’s £500 or, if taxable at 45%/46%/39.35%, it is 0.

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

Page TRG 16
A rough guide to your tax bill

1 Add up your income Do not include savings income or company dividends 1 £

2 Income minus deductions and allowances
Pension and retirement annuity contributions (boxes 2, 3 and 4 on page TR 4)
£

Value of shares, securities, land gifted to charity (boxes 9 and 10 on page TR 4)

£

Personal Allowance (see page 15) + Blind Person’s Allowance

£ 2 £

3 Work out the tax due on box 2

The first £2,162* in box 2 x 19%
£

The next/first £10,956*/£37,700 in box 2 x 20%

£

The next £17,974* in box 2 x 21%

£

The next £118,908*/£112,300 in box 2 x 40% or 41%

£

Remainder in box 2 x 45% or 46%*

£ 3 £
4 and 5 Add up Savings income and work out tax
(less any deductions and allowances unused in box 2)
4 £

Amount in Starting Rate up to £5,000 (£17,570 minus amount in box 1) x 0%

£ £0.00

Amount in Nil Rate - Savings Allowance (£1,000, £500 or £0) x 0%

£ £0.00

Amount chargeable to tax

x 20%, 40% or 45% (see box 3 for amounts available in rate bands)
£ 5 £

6 and 7 Add up Dividend income and work out tax

(less any deductions and allowances used in boxes 2 and 4
6 £

Amount in Nil Rate - Dividend Allowance (£2,000)

£ £0.00

Amount chargeable to tax

(see boxes 3 and 5 for amounts available in rate bands) (8.75%, 33.75% or 39.35%)
£ 7

8 and 9 If you’re self-employed or in partnership

Class 4 NICs on profits (minus £11,908) x 9.73% up to maximum of £38,362 x 9.73% = £3,732.62
£

Remainder x 2.73%
£ 8 £

Work out Class 2 NICs at £3.05 per week

9 £

10 Capital Gains Tax (on gains over £12,300)

Other Gains x 10% + Residential Property Gains x 18% up to the amount of unused
basic rate band (if any)
£

Other gains x 20% + Residential Property Gains x 28% on gains above basic rate
£

Gains that qualify for Business Asset Disposal Relief and Investors’ Relief x 10%
£ 10 £

Total add boxes 3, 5, 7, 8, 9 and 10 together 11 £

Minus any tax paid – from employment (P60 or P45),

or from trading income (subcontractor deductions) and so on
12 £

Total tax bill box 11 minus box 12 13 £

This is not precise but it will indicate if you have to pay any tax by 31 January 2024 or if we owe you a repayment.
It does not take account of Marriage Allowance transfer, Student Loan repayments, Child Benefit Charge or Foreign Tax
Credit Relief and so on, and whilst the deductions and allowances are given in the most beneficial manner for most
customers it cannot do this in every case.

Page TRG 17