Four assessment labels
An original bill uses the return and/or AIS information. An amended bill reflects a downward adjustment; an additional assessment reflects an increase. An estimated bill can be issued for non-filing and does not replace the outstanding filing obligation. Amended and additional bills show the previous assessment for comparison.
From income to chargeable income
Income figures are net of allowable employment, rental or business expenses. Assessable income also deducts approved donations; personal reliefs then reduce it to chargeable income. YA 2026 normally concerns 2025 income, although business accounts ending on a date other than 31 December can have a different basis period. “Tax payable” is the payment liability; “tax repayable/discharged” identifies an amount to be refunded.
Official source
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