The following sources of income may be subject to withholding and the withheld amount may be claimed by an individual in their self-assessment tax return as an off-set against their tax bill.
Investment income (interest from banks, building societies, unit trusts, securities etc. and dividends);
Certain state benefits (state pension lump sums and incapacity benefit);
Occupational pensions and retirement annuities;
Some life insurance policy gains;
Income from share schemes;
Employment income (including some lump sums and compensation payments);
Certain types of trading income, (including payments under the Construction Industry Scheme);
Property income (in some circumstances); and
Income from trusts, estates and income chargeable on settlers.
The National Insurance and PAYE Service brings together all of an individual’s PAYE details (including employments, pensions and tax deducted) into one single record and currently holds approximately 44 million individual customer records. Clerical action is required by HM Revenue and Customs staff when expected details of pay and tax (from form P14) and/or expenses and benefits (from form P11d) have not been received by an employer or pension provider.