I am trying to help my nan with her self assessment (currently in the process of training at college) and I she is filling in a paper version of SA.
She has a form saying exemption from Income Tax on the capital element of a purchased life annuity which she received from AXA, can you tell me if she needs to send this in with her SA and does she include the monthly amount on the pensions section or is there another form she should be filling in?
Hi Rachel What is it you are studying at the mo, is it the tax one, ATT?
You might find this useful https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/505159/sa150-notes_2016.pdf
HMRC don't usually ask you to send the supporting documents, as long as she keeps them all for the usual timescales in the event of a tax enquiry from HMRC. Better still longer, for her own purposes.
HTH
__________________
Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
Yes it is, I am just conscious to not get it sent back for her as it's paper form so just add it into the pensions and annuity box and that's it? It's very simple for her because she just does childcare 2 x days a week and gets paid what tax credits pay her but as I have never seen annuity's as of yet I thought I would be better checking š
