Online S.A calulation question

Stavros_3

I have just submitted my 08/09 S.A online. Their calculation on what I owe them seems way to high. How am I able to challenge this amount when their demand for this comes through. I rang the HMRC tax section for online assessments and they were not too helpful, putting it mildly

PlutoinCapricorn

This happened to me when the amount HMRC said was owing did not agree with my advance estimate. I then found that I had made a slight mistake in my own calculation - it was only £18 difference anyway!

Why do you think that your amount is too high? Are you talking about the payment on account due in July? If you expect to earn less in 2009/10 then perhaps the payment on account is too high.

People on here may be able to help more if you give some information and figures.

Rolo_Tomasi

The online form does not make a mistake when it comes to calculating the tax owed. If you think the amount is too high you have either not completed the form correctly or do not understand issues such as payments on account. The tax calculation you receive will be the amount of tax owed for the year - it will not take any payments already made towards this into account.

If you would like any further guidance perhaps you could start by explaining why you have a Tax Return to complete and give some approximate figures.

Stavros_3

These are my figures 08/09, my tax affairs are quite straightforward

Salary - £9117 (Income tax at source)
Pension £17,102 (Income taxed at source)
Interest from savings £7,241 (tax deducted by building society)
Self employment earnings £6,250 (untaxed)
My tax code for the year was 543L
Self assessment calculation that I owe HMRC £2,494

Rolo_Tomasi

Sorry but we need bit more information.

1. Do you know why your tax code was not standard?
2. Which income source was the code set against?
3. What tax code was used for the other source?
4. How much tax was deducted from your salary and pension?

PlutoinCapricorn

At first sight it does seem high. I guess that you have double checked that the gross and tax paid figures from your 2 P60s and the tax from your Certificate of |nterest Deduction have been input correctly?

If so, have you checked that the correct amounts of tax have been deducted by the employer/pension supplier/bank?

Tarasam

When did you submit it, if its only in last 24 hrs then the person on the end of the phone cant see what you're talking about so is "working blind". It can be really difficult to advise a taxpayer when you cant see what they're talking about or whats been submitted.

Stavros_3

Rolo_Tomasi wrote: »

Sorry but we need bit more information.

1. Do you know why your tax code was not standard?
2. Which income source was the code set against?
3. What tax code was used for the other source?
4. How much tax was deducted from your salary and pension?

1. It is the standard code (or 543L) which means my personal allowance is £5435 for the tax year
2. My main employment income prior to retirement from previous tax year (20%)
3. No idea
4. Salary £9117 (tax deducted £1823)
Pension £17,102 (tax deducted £2212)

glider3560

How much tax did you pay on your interest?

Stavros_3

glider3560 wrote: »

How much tax did you pay on your interest?

£1428 on £7241 gross interest

Rolo_Tomasi

Did you retire before September 08? I assume so because the 'normal' personal allowance for the year was increased to 603L. However, using this allowance the tax deducted from your salary, pension and interest all seem OK therefore I would expect your tax liability to be £1315. You will probably have to make payments on account but even with these the total due to be paid by the end of January would still be only £1973.

Unless you had any other income (state pension perhaps?) which took you into the higher rate bracket, I can only assume that you have put some figures in the wrong box on the Return - did you keep a copy?