P800 help

Dannyboy4450

I am sooo confused by this bloody form lol I just need one answer it says at the bottom

plus repayment supplement £(not saying) lol
Repayment due £ same as above

Does this mean they owe me it also says on the cover letter that a payable order for this amount has been issued to you separately

Many thanks
Danny

Mikeyorks

Dannyboy4450 wrote: »

Does this mean they owe me

Yes.

If there's repayment supplement - that means it's a repayment for an older year and that is the (credit) interest on it.

Dannyboy4450

Wicked
This ones hard I can't work out if it's right what they're saying so I'll type it and tell me what you think

05/06 income 4035 tax paid 393.77

Tax over paid 393.77
Repayment supplement 28.15
Repayment due 421.92

06/07
Income 3704 tax paid 265.23
Less total adjustments 421.92
Repayment of tax 687.15
Supplement 9.90
Repayment due 697.05

All fine so far

07/08
Income 15154 tax paid 1946.70
Personal allowance 5225
Income tax chargeable on this amount 9929
Starting rate at 10% on 2230 = 223
Basic rate at 22% on 7699 = 1693.78
Tax chargeable 1916.78
Less total adjustments 697.05
Tax payable 1219.73
Repayment of tax 726.97
Supplement 0.33
Repayment due 727.30

Now correct me if I'm wrong I paid 1946.70 that year
When tax chargeable says 1916.78 which leaves me thinking over payment there
Then for some reason they deduct the 697.05 from the 2 previous years when from what I can see I've constantly over paid

Mikeyorks

The £697.05 aggregated overpayment is being deducted from the tax due in 07/08 ..... leaving a total overpayment (for the 3 years) of £727.30 (inc the supplement).

That - the £727.30 is what is being repaid.

A cross check to the individual years :

05/06 ....... £421.92
06/07 ........ £275.13
07/08 ........ £30.25

Total ........ £727.30

jennifernil

No, you are confused. You paid £1946.70, tax due was £1916.78, so you are due a refund of £29.92.

This has been added to the previous refund due (£697.05) to give a refund of £726.97 + 33p = £727.30.

jennifernil

Mike types quicker than I do!!

Mikeyorks

jennifernil wrote: »

Mike types quicker than I do!!

Not usually ..... I'd noticed!

Stu171

Glad i found this thread, even registered to ask the question searched first and found this.

The way i read the form was both 'Do i owe them?' or 'Do they owe me?'

I think on the form where it says about your income and tax chargeble is the sticking point. As i read it with the 'Income tax chargeable on this amount' with a bold letter B saying tax chargeable and an amount it looks like that is what i owe on the 'Less total tax allowances'

But then next to bold letter C, tax over paid, is a big arrow pointing to a figure, then under a new bold line says

'Plus repayment supplement (where appropriate) figure followed by repayment due.'

I assume this IS tax that i am owed, and not owe the tax man?

Mikeyorks

If there's an entry at note 15 on the P800 - that's an underpayment and you owe. If at note 16 - it's an overpayment and there should be a note on the cover document that a cheque is en route?

Stu171

Ah i see, on the right hand side i have see notes 2,8,10,17,16. There isn't a see note 15 against any of the calculations.

So if i understand this, i am owed money?

It says on the cover sheet

"I have reviewed your income tax liability for the year shown above to see whether you have underpaid or overpaid tax for that year. My calculation is given on the enclosed sheet. The calculation result is given near the foot of that page. The 'See notes' column referes to the numbered notes in the guidence sheet which i enclose.

A payable order for this amount has been issued to you seperatly. The reason for the ovepayment is set out on the enclosed sheet"

Mikeyorks

Stu171 wrote: »

So if i understand this, i am owed money?"

Yes.

A payable order for this amount has been issued to you seperatly. The reason for the ovepayment is set out on the enclosed sheet

Bit of a giveaway!