SA: 'adjustment of tax.'?

catoutthebag

Just completing my 11/12 return. My turnover/profit is slightly higher than 10/11, so I guess I will have the cough up a bit more plus pay the POA 50% 12/13. I'm full Self employed.

So, I'm on section 4 and I don't 'get it'?

Underpaid tax included in PAYE coding (Page 1 of 2)


* indicates required information

Our records show that your 2011-12 PAYE Notice of Coding includes an adjustment for tax underpaid. Please complete the following question(s).

Underpaid tax for earlier years included in your tax code for 2011-12: £ 0.00 If this figure is not correct, select 'No' and you will be given a chance to amend it below.*

catoutthebag

I clicked 'yes' and it took me to the same question, but with another statement

Underpaid tax for 2011-12 included in your tax code for 2012-13: £ 0.00I guess I click 'yes' again and normal service resumes (ie plain English)?:rotfl:

catoutthebag

help!!! My return has come up BIG!

It has the tax, ni, slc for 11/12 plus the POA 50% for 12/13.

I understand the POA, BUT I have already paid both POA for 11/12?

And since I only earned a a couple of grand more (turnover), I was only expecting to pay a few hundred for 11/12 PLUS 50% POA FOR 12/13?

Panicking now, what I have filled in incorrectly?

I rang HMRC last week, and this was all confirmed (ie, paid both POA for 11/12, so I will only need to pay an extra earned)

The system thinks something else?

FYI, I had to request a new USER ID, but that's all? Logged in fine.

BlondBoy

catoutthebag wrote: »

help!!! My return has come up BIG!

It has the tax, ni, slc for 11/12 plus the POA 50% for 12/13.

I understand the POA, BUT I have already paid both POA for 11/12?

And since I only earned a a couple of grand more (turnover), I was only expecting to pay a few hundred for 11/12 PLUS 50% POA FOR 12/13?

Panicking now, what I have filled in incorrectly?

I rang HMRC last week, and this was all confirmed (ie, paid both POA for 11/12, so I will only need to pay an extra earned)

The system thinks something else?

FYI, I had to request a new USER ID, but that's all? Logged in fine.

Pretty sure the system shows what you owe including the payments on account, even if you've already paid them. (Happened to me a couple of years ago and scared the life out of me too!)

catoutthebag

Thank god for that. Was finishing it last night and had a heart attack. Hardly slept because I don't have the figure it came up with. Can Anyone else confirm this is true?

Basically, actual profit for 11/12 is ~2k more.

SO I was expecting to pay the balance of ~600-700 for 11/12 plus the 50% poa for 12/13

But the way the calculation has come out is if I haven't paid the the 11/12 (when I did via 2 poa in jan/jul last year)

Why do they do it this way - stress everyone out?:mad:

catoutthebag

Can someone else confirm my queries in post 1&2 please

nomunnofun

You are correct for 1 and 2. Perhaps this thread from last week will help regarding the payments on account?

https://forums.moneysavingexpert.com/discussion/4421787

catoutthebag

Thank you, it does, I'm very relieved. Hmrc need to sort their crap out

I'll be logging in later (still slightly traumatised), but when I click next/submit, I guess there will be a final page that shows what I ACTUALLY owe (ie with the adjustments), without me having to work it out? Just need to prepare myself..

cotswoldaccountant

You won't get a final page showing what you actually owe - but you should receive a statement in a few days from HMRC confirming the balance due. Which should be the total tax due for 2011-12 less the two payments on account made already, plus the first payment on account for 2012-13.

You may also receive a penalty as your return is late.

catoutthebag

So I can't immediately pay online once I've 'submitted' it & have to wait for a statement? Sounds odd that their computer can't do the deduction

It's ok I doubt I'll get a penalty - I lost one of my ID which they informed that will provide an extension til next week. Plus it's the first time I've been late. So I should be able to appeal any penalty if it arises (read that some don't get the penalty if they lost one of their login details & informed Hmrc in sufficient time)

nomunnofun

Can you add:

Payment due for 2011/12 plus first payment on account for 2012/13 and subtract the total of the payments on account that you made for 2011/12 in January and July 2012. Log in and click 'View account' on the left hand side to see these payments.