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  • FIRST POST
    • Adrian Harvey
    • By Adrian Harvey 7th Dec 17, 11:01 AM
    • 5Posts
    • 0Thanks
    Adrian Harvey
    Self Assessment doesn't add up?
    • #1
    • 7th Dec 17, 11:01 AM
    Self Assessment doesn't add up? 7th Dec 17 at 11:01 AM
    Hi,

    Sorry new to thread, completed my self assessment for 2016/2017 and it says I owe £4300, however using an online calculator, it says I am only £1700 short, I cleared what I owed for 2015/2016, so shouldn't be any outstanding, can anyone suggest any reason for these differences?

    Thanks in advance.
Page 1
    • purdyoaten2
    • By purdyoaten2 7th Dec 17, 11:51 AM
    • 738 Posts
    • 336 Thanks
    purdyoaten2
    • #2
    • 7th Dec 17, 11:51 AM
    • #2
    • 7th Dec 17, 11:51 AM
    Very little information but let's suggest the most common errors:

    1. If you are PAYE have you entered the tax paid at your employment?

    2. Your payments on account for 2016/17 (made January and July 2017) should be taken off the £4300. The calculation shows the total amount due for 2016/17 - your payments on account would be part payments towards this.
    purdyoaten lost his password
    • Adrian Harvey
    • By Adrian Harvey 7th Dec 17, 1:03 PM
    • 5 Posts
    • 0 Thanks
    Adrian Harvey
    • #3
    • 7th Dec 17, 1:03 PM
    • #3
    • 7th Dec 17, 1:03 PM
    Thanks, didnt want to give the gritty details, but have double checked the info I put in regarding PAYE and it is all correct, my statement just tells me the balancing payment due is £4300, just curious that the online calculator says I underpaid by 1700 yet taxman is asking for more.

    I only have one job and not self employed have no other income or benefits, do not get family credit, just get a big bonus at end of year that takes me over the level,
    • BoGoF
    • By BoGoF 7th Dec 17, 1:34 PM
    • 2,738 Posts
    • 1,973 Thanks
    BoGoF
    • #4
    • 7th Dec 17, 1:34 PM
    • #4
    • 7th Dec 17, 1:34 PM
    You will need to give more details from your statement.

    What does it say, for example balancing payment for yy/yy, payment on account for yy/yy
    • BoGoF
    • By BoGoF 7th Dec 17, 1:36 PM
    • 2,738 Posts
    • 1,973 Thanks
    BoGoF
    • #5
    • 7th Dec 17, 1:36 PM
    • #5
    • 7th Dec 17, 1:36 PM
    What online calculator are you using?
    • 00ec25
    • By 00ec25 7th Dec 17, 4:19 PM
    • 5,577 Posts
    • 4,981 Thanks
    00ec25
    • #6
    • 7th Dec 17, 4:19 PM
    • #6
    • 7th Dec 17, 4:19 PM
    since we are not mind readers we cannot answer your question unless you tell us the numbers, where you put them, and what calculator you are using.
    • purdyoaten2
    • By purdyoaten2 7th Dec 17, 5:52 PM
    • 738 Posts
    • 336 Thanks
    purdyoaten2
    • #7
    • 7th Dec 17, 5:52 PM
    • #7
    • 7th Dec 17, 5:52 PM
    since we are not mind readers we cannot answer your question unless you tell us the numbers, where you put them, and what calculator you are using.
    Originally posted by 00ec25
    Well I am going for:

    First payment on account £1300
    Second payment on account £1300
    Balancing payment £1700

    Total liability £4300

    Just a hunch
    purdyoaten lost his password
    • 00ec25
    • By 00ec25 7th Dec 17, 6:33 PM
    • 5,577 Posts
    • 4,981 Thanks
    00ec25
    • #8
    • 7th Dec 17, 6:33 PM
    • #8
    • 7th Dec 17, 6:33 PM
    Well I am going for:
    Originally posted by purdyoaten2
    spoilsport, yes "the usual" failure to understand POA very likely
    • Adrian Harvey
    • By Adrian Harvey 8th Dec 17, 9:46 AM
    • 5 Posts
    • 0 Thanks
    Adrian Harvey
    • #9
    • 8th Dec 17, 9:46 AM
    • #9
    • 8th Dec 17, 9:46 AM
    Hi,

    Yes sorry to be vague, and am a newbie to self assessment,

    Figures are £124654 pay
    Tax paid £41754

    Statement says 28 april 17 balance 0.00
    31 jan18 balancing payment due 4351.60

    Used listen to taxman calculator that says i should of paid 43461 tax.
    • BoGoF
    • By BoGoF 8th Dec 17, 10:04 AM
    • 2,738 Posts
    • 1,973 Thanks
    BoGoF
    Based on those figures you should only be £1707 underpaid. Was there something in your tax code that you are not entering in your Tax Return - pension contributions, expenses?
    • pramsay13
    • By pramsay13 8th Dec 17, 10:29 AM
    • 240 Posts
    • 718 Thanks
    pramsay13
    Your self-assessment gives you a breakdown calculation to show you exactly what you have paid, what you owe etc.
    It would be worth looking at that and maybe even posting it on here.
    You might find you're paying your year's income tax owed plus the following year (or part of it) in advance.
    • Adrian Harvey
    • By Adrian Harvey 8th Dec 17, 10:29 AM
    • 5 Posts
    • 0 Thanks
    Adrian Harvey
    Sorry everyone, rechecked my whole form and it says underpayments for previous year included, which adds up, however it still baffles me that this was not mentioned last year when I paid my outstanding balance for 2015/16.
    • Dazed and confused
    • By Dazed and confused 8th Dec 17, 8:10 PM
    • 1,985 Posts
    • 897 Thanks
    Dazed and confused
    Tax underpayments are often collected with a gap year in the middle.

    For example if your 2016/17 underpayment could be collected through your tax code it would done via your 2018/19 tax code, starting next April. The current code for 2017/18 wouldn't be adjusted part way through the year to include a new underpayment.

    So if you had an underpayment for 2014/15 it would have normally been identified in the 2015/16 tax year and then collected during 2016/17.

    But inclusion in your tax code would normally mean your employer deducted extra tax.

    Without more info about your tax history - have you done tax returns for a few years? What tax code was issued by HMRC for 2016/17? How was the tax code made up? What tax code did your employer use for 2016/17?
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