Education Maintenance Allowance (EMA) 2018/19

Transcription

1 Educaton Mantenance Allowance (EMA) 2018/19 Fnancal Detals Notes /A 1

2 How to use these notes These notes are splt nto sectons n the same way as the Fnancal Detals Form, so you can fnd the nformaton you need faster. Where you see ths con n the applcaton form, there s extra nformaton n these notes to help you. e Where you see ths con n the applcaton form, t means that you need to send orgnal supportng evdence. These notes wll tell you exactly what we need from you. You need to send orgnal evdence; f you send photocopes ths wll cause delays to your applcaton. Addtonal help and nformaton For the most up to date nformaton go to: If you need to speak to someone about EMA you can call us on (Mncom: ). You can get copes of any of our forms or gudes n Bralle, large prnt format or audo. If you need ths, you can request these by emalng your name, address and detals of the format you need to: bralleandlargefonts@slc.co.uk or call Where do I send my completed form and documents? Make sure you ve fully completed the form, sgned and dated the agreements and attached all the documents we need and send t to: EMA Customer Servces PO Box 5596 Glasgow G52 9BR Anythng else? If any of your crcumstances change durng the academc year, you need to call us on and let us know. 2

3 Secton 2 Fnancal detals Part A Self assessed If you completed an onlne tax return You should refer to your saved onlne tax return for the ncome fgures requred n ths secton. If you completed a paper tax return There s an onlne gude to help you answer the questons n ths secton whch you can download from or f you would lke a copy to be sent to you call us on Data sharng We wll check the fnancal nformaton that you provde wth HM Revenue & Customs (HMRC). Ths nformaton wll be kept securely and held strctly under the provsons of the applcable data protecton legslaton. If you fal to provde your Natonal Insurance number on the applcaton form we wll ask you to provde your fnancal documents. If your Natonal Insurance number s shown on any documents you send us n support of an applcaton, we wll use ths nformaton and share and check t wth HMRC n order to obtan accurate fnancal nformaton about you. Part B Fnancal nformaton for tax year e If your household ncome has permanently dropped snce To be elgble to get EMA payments your total household ncome amount must be ether: 20,817 or less; or 23,077 or less and there s more than one young person who qualfes for Chld Beneft n the household. If n tax year you earned over ths threshold, but snce, your ncome has permanently dropped below t you can be consdered for EMA usng your current household ncome. We need proof of your current household ncome; you need to send us: your latest Unversal Credt Award letter; or your latest Income Support letter; or your pay slps for last 3 months; or If self assessed a letter from your accountant on headed paper that states your last three months ncome. Ths letter must be sgned and dated. And proof to show that your household ncome has permanently dropped; send us: your P45; or your redundancy letter; or a letter from your employer on headed paper that explans the permanent drop n ncome. Ths letter must be sgned and dated. 3

4 Secton 2 Fnancal detals (contnued) 2.4 Income from salary or wages If as part of your salary or wages for tax year you receved tps and other payments that dd not show on your P60, you stll need to nclude ths fgure when provdng your total ncome amount earned from employment. Income from taxable state benefts Only nclude ncome receved for the followng benefts: Bereavement Allowance Carer s Allowance Contrbuton-based Employment and Support Allowance Graduated retrement beneft Incapacty Beneft (only nclude the amount receved after 28 weeks of ncapacty) Industral Death Beneft Jobseeker s Allowance Statutory Adopton Pay Statutory Maternty Pay Statutory Paternty Pay Statutory Sck Pay Wdowed Parent s Allowance 2.6 Income from savngs and nvestments To make ths queston easer to answer, we have splt t up nto four separate parts. You may or may not have receved ncome from every part, just tell us about the ones you dd. Only tell us about the amount of nterest/ncome you ganed from savngs and nvestments durng tax year , not the actual amount of savngs or nvested sums you had. Total nterest from UK banks, buldng socetes and unt trusts Ths s gross UK nterest (before tax has been deducted). You must nclude nterest you receve on bank, buldng socety and other savngs accounts unless t s specfcally non-taxable, for example, a non-taxable Indvdual Savngs Account (ISA) etc. If you dd not declare any savngs and nvestment ncome to HMRC, refer to your bank or buldng socety statements for these fgures. 4

5 Secton 2 Fnancal detals (contnued) Total ncome from UK lfe nsurance gans, securtes and partnershps Ths ncludes: Interest from glt edged and other UK securtes gross amount before tax UK lfe nsurance polcy etc. gans on whch tax was treated as pad UK lfe nsurance polcy etc. gans on where no tax was treated as pad UK lfe nsurance polcy etc. gans from voded ISAs Your share of taxed nterest etc. Total untaxed savngs ncome taxable at 20% Taxed ncome taxable at 10% Taxed ncome taxable at 20% Total ncome from UK nvestments and dvdends Ths ncludes: Dvdends from UK companes Other dvdends Stock dvdends Non-qualfyng dstrbutons and close company loans wrtten off or released Share schemes taxable amount Total ncome from foregn nvestment and dvdends Ths ncludes: Foregn dvdends (up to 300) Interest and other ncome from overseas savngs Dvdends from foregn companes Dvdend ncome receved by a person overseas 5

6 Secton 2 Fnancal detals (contnued) 2.7 Taxable benefts n knd Ths ncludes: Assets placed at employee s dsposal (cars, property, goods or other assets) Payments made on behalf of employee Vouchers and credt cards Lvng accommodaton Mleage allowance and passenger payments Total cash equvalent of all cars/vans made avalable Total cash equvalent of fuel for all cars/vans made avalable Cash equvalent of loans after deductng any nterest pad by the borrower Prvate medcal treatment or nsurance Qualfyng relocaton expenses payments and benefts Servces suppled Assets placed at employee s dsposal Other tems (ncludng subscrptons and professonal fees) Expenses payments made to, or on behalf of, the employee Part C Any other ncome 2.9 Income from self-employment To make ths queston easer to answer, we have splt t up nto two parts. You may or may not have receved ncome from both parts, just tell us about the ones you dd. Total taxable proft from busnesses Ths ncludes: Total adjusted profts from ths busness (aggregated for multple self employments) Total taxable proft from partnershps Ths ncludes: Share of total taxed and untaxed ncome other than that taxable at 10% and 20% Your share of total adjusted proft from the partnershps 2.10 Income as a Mnster of relgon Ths ncludes: Taxable ncome mnus expenses (Mnsters of relgon) that are not ncluded n your P60 or P11D 6

7 Secton 2 Fnancal detals (contnued) 2.11 Any other taxable ncome or lump sums Ths ncludes: Other taxable ncome before expenses and tax taken off Foregn earnngs not taxable n the UK Taxable lump sums Lump sums or benefts receved from an Employer Fnanced Retrements Beneft Scheme excludng pensons Redundancy and other lump sums and compensaton payments 2.12 Income from property lettngs Ths ncludes: Income from UK property Income from foregn property or land 2.13 Income from UK trusts Ths ncludes: Dscretonary ncome payment from a UK resdent trust Net amount Dscretonary ncome payment from a UK resdent trust Total payments from settlor-nterested trusts Non-dscretonary ncome enttlement from a trust net amount of non-savngs ncome Non-dscretonary ncome enttlement from a trust net amount of savngs ncome Non-dscretonary ncome enttlement from a trust net amount of dvdend ncome Income chargeable on settlors Income from UK estates Foregn estate ncome 2.14 Foregn ncome Ths ncludes: Total taxable amount of overseas pensons, socal securty benefts and royaltes etc. Total taxable amount of all other ncome receved by a person abroad and any remtted rng fenced foregn ncome Gans on dsposals of holdngs offshore funds and dscretonary ncome from non-resdent trusts Beneft receved from an overseas trust, company or other person Gans on foregn lfe polces (amount of gan) 7

8 Secton 2 Fnancal detals (contnued) 2.15 Income from an overseas penson Ths ncludes: Value of penson benefts n excess of your Avalable Lfetme Allowance, taken by you as a lump sum Amount of unauthorsed payment from a penson scheme, not subject to surcharge Total amount of unauthorsed payment from a penson scheme, subject to surcharge Taxable short servce refund of contrbuton (overseas penson schemes only) Taxable lump sum death beneft payment (overseas pensons only) 2.16 Other overseas ncome and gans Part D Income deductons 2.19 Allowable expenses on whch you clamed tax relef Ths ncludes: Amount of omssons (exemptons under transfer of foregn assets) Ths ncludes: Total amount of allowable expenses Foregn tax for whch tax credt relef not clamed Busness travel and subsstence expenses Fxed deductons for expenses Professonal fees and subscrptons Other expenses and captal allowances 8

9 Secton 3 Agreements Informaton Usage Summary Student Fnance Wales s the student fnance servce provded by the Student Loans Company, funded by the Welsh Government. The Welsh Mnsters have transferred certan functons relatng to student fnance applcatons to the Student Loans Company Lmted (SLC). For further detals about the way your nformaton s used, who s responsble for t and the rghts you have n connecton wth t, please refer to our full Prvacy Notce/Data Protecton Statement avalable onlne at If you don t have nternet access, please call us on and we can send a copy to you. Sharng your nformaton If you do not want us to share your nformaton wth your parent(s)/partner or you don t want us to use your nformaton for market research purposes you need to call us on and let us know. 9