Self assessment help

purdyoaten

A.J wrote: »

Ah, I see! Sorry. Very new to this as I'm sure you can tell!!

On the "view your calculation" page it says:

Total tax, Class 4 NIC and Student loan due for 2013-14 £773.40
Plus
First payment on account for 2014-15 £0.00
Payment due by 31 January 2015
£773.40
Second payment on account for 2014-15 will be due by 31 July 2015 £0.00

Is it my student loan payment that is making up the extra?

That is the summary. Go to 'tax return options' then 'view your full calculation' This will show all of your income from all sources, allowances, tax rates etc. Check that all figures match.

PlutoinCapricorn

We all agree that £527 is the amount due.

Something is wrong somewhere, but we have months to find it.

I suspect that something has gone into the wrong box ...

purdyoaten

It is the student loan probably. 9% of 2635 is £237.15 which is close, assuming that you also pay student loan at your PAYE.

Student loans are well outside my level of expertise.

A.J

Yeah, it looks like it's the student loan. I just viewed the full tax return and it has this "self assessment summary":

Self assessment
1. Total tax, Student Loan repayment and Class 4 NICs due before any payments on account: £ 773.40
2. Total tax, Student Loan repayment and Class 4 NICs overpaid £ 0.00
3. Student Loan repayment due £ 245.00
4. Class 4 NICs due £ 0.00
5. Capital Gains Tax due £ 0.00
6. Pension charges due £ 0.00

I assume that's a reasonable student loan payment on the amount of profit I've made, so it seems that everything is in order.

Apart from the fact that I didn't deduct any allowable expenses...

I'll go away and read up on that, but if anyone has any idea about what I may be able to claim then I'd be very interested to hear.

As I say, I work from home (a shared flat, with flatmates) in my spare time so pretty much just use internet (which I pay 1/3rd of the bill) and my laptop!