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Underpaid tax?

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cheghead
cheghead Posts: 849 Forumite
in Cutting tax
I beleive if you under pay tax this year the HMRC will reduce your tax code for the following year?

However what happens if you under pay tax this year but will not be earning enough to pay tax (paye) in the next financial year?

Comments

  • Dazed_and_confused
    Dazed_and_confused Posts: 6,458 Forumite
    Uniform Washer
    Once the actual amount due is known you will presumably have to pay it back direct to tax man. Do you fill in a self assessment return?
  • cheghead
    cheghead Posts: 849 Forumite
    edited 9 February 2013 at 11:25AM
    No I am an employee now working part time. (Worked full time for part of the year)!
  • McKneff
    McKneff Posts: 38,857 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Tax man will send you a bill for you to pay it back directly to them.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
This discussion has been closed.
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