C4C3C5PART II RETURNS OF INCOME AND GAINS
Pt. 2 applied (with modifications) by Social Security Contributions and Benefits Act 1992 (c. 4), s. 11A(1)(3) (as inserted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 3)
Pt. 2 modified (14.9.2023) by The Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) (No. 2) Regulations 2023 (S.I. 2023/912), regs. 1(2), 41(1) (with reg. 1(3))
Income tax
C2C18AF1 Trustee’s return.
F21
For the purpose of establishing the amounts in which F3the relevant trustees of a settlement, and the settlors and beneficiaries, are chargeable to income tax and capital gains tax for a year of assessment, F6and the amount payable by him by way of income tax for that year, an officer of the Board may by a notice given to F4any relevant trustee require the trustee—
a
to make and deliver to the officer F8... , a return containing such information as may reasonably be required in pursuance of the notice, and
b
to deliver with the return such accounts, statements and documents, relating to information contained in the return, as may reasonably be so required;
and a notice may be given to any one trustee or separate notices may be given to each trustee or to such trustees as the officer thinks fit.
F91A
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F71AA
For the purposes of subsection (1) above—
a
the amounts in which a person is chargeable to income tax and capital gains tax are net amounts, that is to say, amounts which take into account any relief or allowance a claim for which is included in the return; and
b
the amount payable by a person by way of income tax is the difference between the amount in which he is chargeable to income tax and the aggregate amount of any income tax deducted at source F11...
F101B
A return under this section for a year of assessment (Year 1) must be delivered—
a
in the case of a non-electronic return, on or before 31st October in Year 2, and
b
in the case of an electronic return, on or before 31st January in Year 2.
1C
But subsection (1B) is subject to the following two exceptions.
1D
Exception 1 is that if a notice in respect of Year 1 is given after 31st July in Year 2 (but on or before 31st October), a return must be delivered—
a
during the period of 3 months beginning with the date of the notice (for a non-electronic return), or
b
on or before 31st January (for an electronic return).
1E
Exception 2 is that if a notice in respect of Year 1 is given after 31st October in Year 2, a return (whether electronic or not) must be delivered during the period of 3 months beginning with the date of the notice.
1F
The Commissioners—
a
shall prescribe what constitutes an electronic return, and
b
may make different provision for different cases or circumstances.
2
Every return under this section shall include a declaration by the person making the return to the effect that the return is to the best of his knowledge correct and complete.
3
A notice under this section may require different information, accounts and statements for different periods or in relation to different descriptions of source of income.
4
Notices under this section may require different information, accounts and statements in relation to different descriptions of settlement.
F55
The following references, namely—
a
references in section 9 or 28C of this Act to a person to whom a notice has been given under this section being chargeable to tax; and
b
references in section 29 of this Act to such a person being assessed to tax,
shall be construed as references to the relevant trustees of the settlement being so chargeable or, as the case may be, being so assessed.
Pt. 2 applied (with modifications) by Social Security Contributions and Benefits (Northern Ireland) Act 1992 (c. 7), s. 11A(1)(3) (as inserted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 12)