We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Self Assessment - reduce 'payment on account'
Options
Comments
-
chocolatebar2009 wrote: »Hy
If anyone can help me id be very gratefull
What is your profit figure? If it's less than £8105 (the personal allowance (PA) for 12/13) ...... then you may be better putting all your allowance against the PAYE job. To do that you complete a P46 (employer should offer it) saying (Box 'A') this is your sole job. That will give you a PAYE Code of 810L. But you then need to bear in mind all your profit under SA will be chargeable at 20% (if your PAYE exceeds £8105) when you come to file your 12/13 SA Return .... as you've use the PA under PAYE. If you don't earn more than the PA - then the balance will be set off against your profit.
When you come to file your 11/12 SA Return ..... the PAYE job has no effect provided you started after 5/4/12. When you complete the 12/13 SA Return - you complete the employment sheets additionally - figures entered off your P60 that you will get in Apr / May 2013.If you want to test the depth of the water .........don't use both feet !0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards