Tax return or P87?

dano17439

Hi

I am a 40% tax payer and need to claim some tax relief on business mileage payments (only am paid 17ppm by my company) and pension contributions for 2012/13

I am also contracted to work from home 2 days a week, therefore think I am eligible for the £18 per month allowance?

Do I need to fill out a tax return or can this all be done via a P87?

Many thanks

00ec25

as a 40% tax payer you presumably have other sources of income which are being taxed at the wrong rate eg: bank/savings account interest, dividiends etc only have 20% deducted at source

you need to declare those as well as claim for your expenses otherwise you are not declaring your true circumstances

you will need to do a full tax return

dano17439

Taxable bank interest will literally be £2 a year as I tend to keep my current account low, and transfer money into ISA's for savings. The only other income I receive apart from my salary is child benefit.

I've just been reading that I could probably just phone HMRC with my figures instead of completing the form?

dori2o

dano17439 wrote: »

Taxable bank interest will literally be £2 a year as I tend to keep my current account low, and transfer money into ISA's for savings. The only other income I receive apart from my salary is child benefit.

I've just been reading that I could probably just phone HMRC with my figures instead of completing the form?

Is your taxable income in excess of £50k?

If it is and you get ChB you have to do a self assessment form no matter what.

If not and your interest is minimal, you have no other income to declare and the value of your expenses claim is less than £2500, then you will be fine to use the P87