TAXguide 09/18: simple assessment
In TAXguide 09/18 Caroline Miskin explains what a simple assessment is and how HMRC is using them to reduce the number of taxpayers from self assessment. Read a summary here, Tax Faculty members can download the full guide.
Overview
In 2016, HMRC was a given a power to issue simple assessments with the objective of removing taxpayers from income tax self assessment. This TAXguide covers:
- how HMRC uses this power now and its future plans;
- the accuracy of the assessments and how they can be challenged if incorrect;
- the interactions with self assessment and informal P800 tax calculations;
- the responsibility of taxpayers to check the calculations; and penalties and payments.