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purple-iris.
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- August 23, 2024 at 9:06 am #710216
Which of the following statements concerning self-assessment tax returns for individuals is true?
A Individuals with tax payable of less than £1,000 for a tax year are not required to file a tax return
B Individuals are only required to file a tax return for a tax year if they receive a notice to deliver from HM Revenue and Customs (HMRC)
C All individuals who submit a tax return on time are able to have their tax payable calculated by HM Revenue and Customs (HMRC)
D The tax return for an individual covers income tax, class 1, class 2 and class 4 national insurance contributions and capital gains tax liabilities
In this multiple-choice question, I know option c is correct and I see the logic behind it, but I’m unsure why option D is not the right answer. Can you please explain why option D is incorrect?
August 23, 2024 at 12:20 pm #710228D is correct but they might not have a CGT liability
August 25, 2024 at 9:52 am #710317oh okay , Thank you!
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