Download Current Year Income Assessment Form and more Exams Finance in PDF only on Docsity!
SFW/CYI/2223/A 1
Current Year Income Assessment Form – Academic Year 2022/
Personal details
Person 1 Your Customer Reference Number
Name
Date of birth
Day Month Year
Address
Postcode
Person 2 Your Customer Reference Number
Name
Date of birth
Day Month Year
Address
Postcode
If you want to provide your financial details separately, you can download another copy of this form at www.studentfinancewales.co.uk
Before you complete this form
For the student to be assessed based on your estimated income for the tax year 2022-23 we need to be able to compare your estimated income with your actual income for tax year 2020-21.
Have you told us your financial details for tax year 2020-21?
Person 1
Yes No
Person 2
Yes No
If ‘No’ you must give us your financial details. You can download a form at www.studentfinancewales.co.uk/forms If you’re awarded a current year income assessment, we’ll use your finalised 2022-23 household income to work out how much the student can get if they apply for funding based on household income in the 2023/24 academic year. If your income will fall by a further 15% in 2023-24, you can apply for a further current year income assessment.
How do I complete this form?
Start by completing Section A and then work your way through the form. (Depending on your circumstances you may not need to complete every section.) Don’t forget to sign the Declaration at the end. Section A – tax credits and income support Section B – your financial information Section C – other income Section D – income deductions Notes to help you complete some of the questions within the form can be found every time you see this icon.
After I have sent you my completed form, do I need to do anything else?
Yes, but not just now. After tax year 2022-23 has ended, we will contact you and ask you to confirm, with evidence, your actual earnings for that tax year.
These evidence items will be the same documents that you send to, or receive from, HM Revenue & Customs. For example, a P60, SA200 or Self Assessed Tax Return.
If your actual income is different from your estimates we may adjust the amount of student finance awarded. If we have paid the student(s) too much we may have to recover student finance from them.
Section A - tax credits and income support
Q1 Does your tax year end on 5 April 2023?
Person 1
Yes No
Person 2
Yes No
If no, when does it end?
Day Month Year Day Month Year
If your tax year ends on a date other than 5 April 2023, please provide us with information for your tax year that will end during the academic year 2022/23.
Q2 Will or do you expect to receive Working Tax Credits or Child Tax Credits?
Person 1
Yes No
Person 2
Yes No
Q3 Will you receive Income Support or Universal Credit? (^) Yes No Yes^ No
Section B - your financial information
How to answer the questions in this section: If you answer ‘Yes’ to any of these questions you will need to provide the total amount of gross income you expect to receive for that income type. The total amount should include all earnings for the full tax year. For example, if you were made redundant part-way through the year, you need to include earnings from 6 April 2022 up to the date of your redundancy and any income you expect to receive from then up to 5 April 2023. For pension payment questions, please tell us the amount of the pension you expect to receive from the first month you receive it until the end of the tax year. If you answer ‘No’ to any question, you are telling us that you do not expect to receive any income from that particular income type.
Q1 Do you expect to receive any income from salary, wages,
taxable state benefits or from occupational or private pensions?
Person 1
Yes No
Person 2
Yes No
a Total expected income from salary / wages
b Total expected income from taxable state benefits
c Total expected taxable income from occupational pension(s) If you receive a lump sum pension, only declare the amount you received that you paid tax on. d Total expected taxable income from private pension(s) If you receive a lump sum pension, only declare the amount you received that you paid tax on.
Section C - other income
Q1 Do you expect to receive any income from self-employment?
Person 1
Yes No
Person 2
Yes No
a Total adjusted profit from businesses
b Total adjusted profit from partnerships
Q2 Do you expect to receive any income as a Minister of religion? (^) Yes No Yes No
Total expected income amount (minus expenses that would not normally show on a P60 or P11D)
Q3 Do you expect to receive any income from lump sums or from other taxable income sources?
Yes No Yes No
Total expected income from lump sums or other taxable income sources.
For example, money received as compensation or from redundancy. You must include the full amount of your redundancy payment, even if you don’t expect to pay tax on it.
Q4 Do you expect to receive any income from property lettings? Yes No Yes No
Total expected income from property lettings
Q5 Do you expect to receive any income from UK trusts? (^) Yes No Yes No
Total expected income from UK trusts.
For example, payments from settlor-interested trusts and income from UK estates.
Q6 Do you expect to receive any foreign income? Yes No Yes No
Total expected foreign income
Q7 Do you expect to receive any income from an overseas pension? Yes No Yes No
Total expected income from an overseas pension
Q8 Do you expect to receive any other overseas income and gains? (^) Yes No Yes No
Total expected other overseas income and gains
r r
Section D - income deductions
Q1 Do you expect to pay any private pension contributions?
Person 1
Yes No
Person 2
Yes No
Total expected private pension contributions
Q2 Do you expect to pay any Additional Voluntary Contributions (AVCs)? (^) Yes No Yes No
Total expected AVCs
Q3 Do you expect to have any allowable expenses on which you will claim tax relief? Yes^ No^ Yes^ No
Total expected allowable expenses on which you will claim tax relief
Declaration
Make sure you sign the declaration in ink. Digital signatures won’t be accepted.
To find out how we’ll use the information you provide go to www.studentfinancewales.co.uk/privacynotice to read our Privacy Notice before signing this form.
If you cannot sign the form it must be signed on your behalf by your attorney. The Power of Attorney letter must be sent with the application before a signature from that attorney will be accepted.
This application for financial support may be delayed unless you sign and date this declaration.
I confirm that to the best of my knowledge and belief, the information I have provided is true and complete. If it is not, I understand the student may not receive financial support, any support they have had may be withdrawn and I could be prosecuted. I agree to provide any further information in relation to the applicant’s application for financial support as may reasonably be required, and I agree to provide immediate notice of, and details in relation to, any change in circumstances that might in any way affect this application for financial support.
Person 1
Your full name (in BLOCK CAPITALS)
Your signature
Date
Day Month Year
Person 2
Your full name (in BLOCK CAPITALS)
Your signature
Date
Day Month Year
