Self Assessment Tax Return (Underpaid Tax)

rugbyleague123

Hi,
I'm completing my online tax return for 2013-14. I do this to pay the tax on child benefit as I earn over 50000.

I get to page 'Underpaid tax included in PAYE coding (Page 2 of 2)' and it states
'Underpaid tax for 2013-14 included in your tax code for 2014-15: £ 0.00'

However, I have received a PAYE coding notice to adjust my tax code for 2014-15 to pay for the child benefit tax owed for 2013-14. On reading the coding notice again, the amount seems too much as I started paying into company pension during that time and reduced my taxable earnings.

Do I answer 'No' to the 'Is this figure correct...' and enter the amount stated in the coding notice? Do I say no and enter the amount I think it should be or just leave at 0.00 and ask for the coding notice to be changed? I always find this section confusing.

Delphina

If the amount is too high, you should question it and, if applicable, ask HMRC to adjust the code. You then use the correct figure on the 2014 tax return. You can afford to wait until the code is correct before submitting the return anyway! If there is an underpayment of tax coded out to be collected, you need to correctly declared that on the tax return, or the calculation will be incorrect!

Good luck