I need to submit Form 11 for the first time this year (for 2015). I am IT contractor working as a "umbrella" company director (proprietary one). For part of 2015 I was also in "normal" PAYE employment.
I think I am mostly OK with the form but I would be grateful if anyone could clarify few little details for me:
1. Given that I am paid by the umbrella company on PAYE basis, I assume I dont have to put any income in Part B (Trades etc) - just need to put everything in Part D? - Is that correct?
2. Any expenses that were put through via the company I dont have to worry about on my personal tax return sure I dont? I only go by the figures on P60?
3. Revenue asks about any foreign bank account set up in 2015? If I have an account that was set up prior to 2015 should I fill that in too? Maybe I should have notified them of that beforehand (never occurred to me really)?
4. I have Pension Term Assurance cover which I understand is like a life cover with a tax relief.
I cant see appropriate section on the Form 11 to claim this one though? Anyone could provide any guidance?
Thanks in advance for the help.
I think I am mostly OK with the form but I would be grateful if anyone could clarify few little details for me:
1. Given that I am paid by the umbrella company on PAYE basis, I assume I dont have to put any income in Part B (Trades etc) - just need to put everything in Part D? - Is that correct?
2. Any expenses that were put through via the company I dont have to worry about on my personal tax return sure I dont? I only go by the figures on P60?
3. Revenue asks about any foreign bank account set up in 2015? If I have an account that was set up prior to 2015 should I fill that in too? Maybe I should have notified them of that beforehand (never occurred to me really)?
4. I have Pension Term Assurance cover which I understand is like a life cover with a tax relief.
I cant see appropriate section on the Form 11 to claim this one though? Anyone could provide any guidance?
Thanks in advance for the help.