do i need to file tax return?

xyz123

hi

last year for first time, i went over the 40% limit. couple of questions if someone can help.

i need to do two things:
1- Declare interest earned from joint saving accounts. i have tax certificates
2-claim tax relief on pension contribution.

question is, do i need to file a tax return or do i just write a letter to HMRC? secondly are there any guides on how to file a return if i need to do one?

ta

jem16

xyz123 wrote: »

question is, do i need to file a tax return or do i just write a letter to HMRC?

Not unless you now earn over £100k. Writing a letter should suffice.

secondly are there any guides on how to file a return if i need to do one?

ta

Using the online SA is easiest. It guides you as you go along.

paulstar

For 2011/12, fill in a self assessment - it's quite easy.

For 2012/13, if, say, your PAYE income is such that you would pay 40% on the top £10,000 of your salary, but you make personal pension contributions of, say, £15,000, you are not a 40% taxpayer. Unless you have gross interest of over £5000 a year.

You can ring the HMRC help desk, tell then what personal pension contributions and interest you expect to make/receive in 2012/13 and they will adjust your 2012/13 tax code accordingly.

Then, after April 2013 you could fill in a self assessment (paper or online) to tell HMRC the actual amounts. They'll then send you a rebate, or demand a bit more tax, for 2012/13. HMRC will then assume the same contributions & interest for 2013/14 (unless you inform them otherwise) and set your 2013/14 tax code accordingly.