PTX Flashcards
(6 cards)
1
Q
What is roll of HMRC?
A
To ensure a taxpayer is paying and has paid the correct amount of tax.
2
Q
How long do HMRC have to enquire about a self-assessment tax return?
A
One year after the submission date.
3
Q
How much can HMRC fine a tax agent if they act dishonestly?
A
£5000.
4
Q
How much can HMRC fine a tax agent if they refuse to comply with file access notice?
A
£300, plus additional daily fines of £60.
5
Q
What are the 3 types of chargeable income?
A
Non savings income, savings income, dividend income.
6
Q
What is net income?
A
The total of all chargeable income less any reliefs.
