Do I need to do a tax return application?

techno79

I'm currently employed and pay tax through PAYE. I've recently fallen into the higher rate tax band. I understand that I would need to now declare the interest earned in savings accounts (non-ISA) and any charity donations I've made so the relevant adjustments can be made as they would have been based off the basic tax band.

Does anyone know if I have to do this via a tax return application or is there another way I should do this? If it is a tax return then I need to get on it asap as I don't want to miss the deadline as I heard on TV that there is going to be a fine for anyone not filling this in.

I get the impression that the tax return application is for those who are self employed only.

Any help would be greatly appreciated. TIA

Skint_yet_Again

Self assessment is not just for self employed.

This link is to HMRC website and shows all the criteria for self assessment

http://www.hmrc.gov.uk/manuals/sammanual/sam100050.htm

jem16

techno79 wrote: »

Does anyone know if I have to do this via a tax return application or is there another way I should do this

You won't need to complete a tax return just for what you mention. A phone call to HMRC and an adjustment to your tax code is all that is needed.

By the way the deadline at the end of this month is for tax year 2011/12 and not the current tax year.

techno79

jem16 wrote: »

You won't need to complete a tax return just for what you mention. A phone call to HMRC and an adjustment to your tax code is all that is needed.

By the way the deadline at the end of this month is for tax year 2011/12 and not the current tax year.

Sorry, had a dumb dumb moment. Of course the deadline would be for 2011/12. They couldn't set a deadline for the current tax year as it doesn't end until April

The savings interest and charity donations amount to less than £100 so it's not a huge amount so I'm sure I'd be able to get it adjusted via my tax code.

Thanks for the replies.

jem16

techno79 wrote: »

The savings interest and charity donations amount to less than £100 so it's not a huge amount so I'm sure I'd be able to get it adjusted via my tax code.

Just make sure you actually are a higher rate taxpayer. Remember that pension contributions can lower your taxable income but if you're still a higher rate taxpayer by then make sure you are getting the higher rate tax relief on that.