CAT / FIA FTX Syllabus B. Adjusted Profit / Loss Computations - Self-employed supplementary pages - Notes ^{1 / 2}

Individual tax returns

The tax return comprises a basic six-page return form, together with supplementary pages for particular sources of income. 

Taxpayers are sent a return and a number of supplementary pages depending on their known sources of income, together with a Tax Return Guide.

The first three pages of SA103F are relevant for FTX examination purposes and consist of the following sections.

1. Name and unique taxpayer reference (UTR)

2. Business details

   (Boxes 1 to 10).  These contain basic information about the business such as its description, postcode and dates for which accounts are prepared. 

   The cash basis (Box 10) is not in the FTX syllabus.

3. Other information  

   (Boxes 11 to 14). These deal with matters not in the FTX syllabus.

4. Business income  

   (Boxes 15 and 16). Most businesses will only have income in Box 15 which comprises income usually arising in the trade. 

   Box 16 deals with more unusual items such as rental income for business property

5. Business expenses  

   (Boxes 17 to 46). These boxes provide information about business expenses. 

   The total expenses are entered in the boxes on the left hand side and amounts disallowable are entered on the right hand side. 

   For FTX examination purposes, you should show the individual amounts in Boxes 17 to 30 unless you are told otherwise.

6. Net profit or loss  

   (Boxes 47 and 48). These use the information entered in Boxes 15, 16 and 31 to compute the profit (Box 47) or loss (Box 48). 

   Both these amounts are before adjustments for tax purposes.

7. Tax allowances for vehicles and equipment (capital allowances)

   (Boxes 49 to 59). These deal with the annual investment allowance and other capital allowances.

8. Calculating your taxable profit or loss 

   (Boxes 60 to 65). These boxes deal with further adjustments to the profit/loss in Box 47/48 to calculate taxable profits, in particular any adjustment for goods and/or services taken for personal use, disallowable expenses and balancing charges (Box 61). 

   Box 63 deals with deductions such as capital allowances. 

   Box 64 is the net business profit for tax purposes or Box 65 is the net business loss for tax purposes.

The most recent self-employment full supplementary pages:

Supplementary pages SA103F

In the FTX examination, you may be required to complete an extract from the full self-employment supplementary pages (Form SA103F).  This form must be completed by a self-employed individual whose business has a turnover equal to or exceeding the VAT threshold (£85,000 in 2023/24).