Article Summary
This guidance note explains the simple assessment regime introduced by HMRC from 2016/17 onwards. It allows HMRC to assess an individual's income tax and capital gains tax liability outside of self assessment in straightforward cases, using third party data. The guidance covers who might receive a simple assessment, what it includes, how to object and appeal, payment deadlines and options. It explains a simple assessment is a provisional tax calculation which becomes final if no objections are raised within 60 days. The note clarifies simple assessments do not remove the taxpayer's responsibility to notify chargeability. It also covers the voluntary real time transaction tax return, introduced in 2016, which uses the simple assessment framework to allow taxpayers to report gains on disposal straight after the event.Overall, this is a helpful reference for tax professionals to understand the simple assessment regime, how it operates and the interaction with existing processes. It provides key information on objection and appeal rights and outlines the payment process. Understanding this regime will be valuable for advising clients who may receive a simple assessment.