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HMRC internal manual

Tax Credits Manual

From
HM Revenue & Customs
Updated
, see all updates

How to annualise income

Step 1

On the function menu

  • select ‘IY Finalisation’ from the options available
  • select ‘View In Year S17 Details’. You will be taken to the ‘Key Entry Data’ screen
  • enter the customer’s NINO
  • select ‘OK’. You will be taken to ‘In Year Finalisation - View IY S17 - Current position’ screen
  • select ‘details’ under the Declaration Replies box
  • using income supplied in the ‘Income Totals’ box divide the figures by the number of days in UY then times that figure by 365

Note: For a leap year you need to times the figure by 366.