self assesment

kevlarpants

Hi all, just completed a self assess to be all above board on a small bit of extra income !
Only had £57 after expenses.

I am in full time employment on PAYE normal tax band.

Its saying i owe £36 !

Does that sound roughly correct

BoGoF

If by normal tax band you mean 20% then you would expect it to be £57 @ 20% = £11.40. Plus all PAYE taxpayers are underpaid by £0.80 which is collected if you complete tax returns so all being equal it should be around £12.20.

Did you have any employment benefits that the P11d figure was greater than in your tax code which could explain the difference?

kevlarpants

hi,
yes i had £250 medical insurance on p11d which i added on assessment.

also added £600 private pension contributions inc relief.

BoGoF

How much medical benefit was in your tax code for 2010-11?

kevlarpants

my p11d just stated "cost to you " £261.00

BoGoF

So why did you put £250 in your tax return?

Without knowing what was included in your tax code can't say if the £36 is correct.

kevlarpants

sorry, i will be exact.

£57 additional self employed income to tax

Am also in full time employement on 20% tax.

£639.96 private pension contribution inc tax relief

£261.00 medical insurance on P11d

curent PAYE tax code 708L. P60 cert for 5 April 2011 shows final tax cod 621 L
Full time pay was £27,000

kevlarpants

hi, any update much appreciated

Mikeyorks

Tax code for 2010-11 is consistent with your P11D figure. But how much tax is on your p60 for that year? And are you repaying Student Loan by any chance/

kevlarpants

Hi, about £4600 on P60, no loans. just want to be above board on this small extra income but £36 tax on £557 seems wrong.

Mikeyorks

Sorry - but tax is all about fine detail. And you're rounding figures or approximating them off the P60 ...... so we're not going to get far. As the sum you are querying is just a £100 or so at 20% ....... needs the exact pay / tax to make sense of it?

No Student Loan helps as that can cause oddities when cut across from PAYE to SA.