Self Assessment help

nomunnofun

psyche123 wrote: »

I just looked over my tax return again. Found this category.

Allowance for small balance of unrelieved expenditure
If the balance in your 'main pool' and/or 'special rate pool' after claiming Annual Investment Allowance, together with any balance carried forward from any previous year, less any amount you got from disposing of the equipment you no longer use, is £1,000 or less, you may claim that whole amount, or part of it, as a 'small pools allowance' instead of the 18 per cent or 8 per cent Writing Down Allowance. Enter the amount of this allowance in this field. The balance to carry forward will be nil.

If i put my net profit in this section it decreases my tax to £95. Not sure if its right or not. feel im just playing around with numbers now.

No - your self employment section is correct. The above is irrelevant to your return. The additional underpayment is entirely due to your PAYE income as I mentioned in my previous post.

nomunnofun

psyche123 wrote: »

I have previously contact HMRC regarding laundry costs and professional memberships for my main employment. I never realised I would have to add these to my claim aswell

Absolutely - your tax has been adjusted at your PAYE to claim the tax relief. You must claim on your SA return to justify the lower tax as a result. The relevant box is towards the end of the employment section. Check your last coding notice for 2012/13.

Sorry, our last posts crossed.

psyche123

nomunnofun wrote: »

Absolutely - your tax has been adjusted at your PAYE to claim the tax relief. You must claim on your SA return to justify the lower tax as a result. The relevant box is towards the end of the employment section. Check your last coding notice for 2012/13.

Sorry, our last posts crossed.

where would I find a coding notice?

nomunnofun

When you informed HMRC of your laundry costs your code number would have been adjusted to 857L You would have received a notice called a P2 showing these adjustments.

Otherwise, calculate the amount of professional subs paid and add this to your laundry allowance. Claim this on your SA return - the nearer it is to 470 odd, the closer you will be to owing £48.40.

psyche123

nomunnofun wrote: »

When you informed HMRC of your laundry costs your code number would have been adjusted to 857L You would have received a notice called a P2 showing these adjustments.

Otherwise, calculate the amount of professional subs paid and add this to your laundry allowance. Claim this on your SA return - the nearer it is to 470 odd, the closer you will be to owing £48.40.

I added my HPC and my CSP and added 60 for laundry but may be £100, just need to confirm it is a certain set rate. Came up with £436 for my year (using the £60) which makes sense and my tax came down to £56. That makes a bit more sense. i will go back through it properly and make sure I have the right numbers but thank you so much i think thats the part i have been missing.

nomunnofun

£100 would make things correct. HPC and CSP? I am sure that you know what they are!

psyche123

nomunnofun wrote: »

£100 would make things correct. HPC and CSP? I am sure that you know what they are!

They are my professional memberships. Thanks.