income-tax schedules

income-tax schedules

the classification by the INLAND REVENUE in the UK of various sources of INCOME to facilitate the assessment of TAXATION liability upon an individual. There are 6 schedules lettered A to F. Briefly, the income source of each schedule is as follows:

Schedule A: land and property

Schedule B: woodlands run as a business (not now used)

Schedule C: INTEREST and DIVIDENDS from public bodies (including government)

Schedule D: trades, businesses, professions and vocations, interest received gross

Schedule E: WAGES from employment (collected under the PAY-AS-YOU-EARN system – PAYE)

Schedule F: company distributions.

There are considerable rules and regulations concerning INCOME TAX and the expenses allowable against income.

References in periodicals archive ?
If the attorney doesn't specifically ask for the supporting income-tax schedules in addition to the actual return, you don't have to produce them -- only the return itself.