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P60 and pay discrepency
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m0rgana
Posts: 132 Forumite
in Cutting tax
Not an intentional cutting of tax, but one that might happen by accident if I'm not careful - and this seemed the closest board to pick, so here goes.
I'm a contractor, with multiple employers. I also have some self employed income, so have to complete a tax return.
As I was checking over everything my accountant had inputted into my 13-14 return this week, I noticed that one employer (my primary one, as it happens) had issued a P60 that seemed to show a much lower figure than what I can see they paid into my bank account. I'm just wondering how this could happen?
The payments I am looking at were all made to me in Feb 2014 - and they total at least £1,000 more than what is shown for the 13-14 tax year on my P60.
When I brought this up with the employer, they said that the figure shown on the P60 is correct, my accountant should use that figure.
Bit worried? I feel nervous essentially not declaring £1,000+ but don't want to do so unnecessarily if I am just missing something obvious here. Could it be that 'their' tax year starts and ends on a different date to mine? It just seems clear to me that everything in February needs to go in this year's return. I'm really confused and want to get this sorted.
thank you.
I'm a contractor, with multiple employers. I also have some self employed income, so have to complete a tax return.
As I was checking over everything my accountant had inputted into my 13-14 return this week, I noticed that one employer (my primary one, as it happens) had issued a P60 that seemed to show a much lower figure than what I can see they paid into my bank account. I'm just wondering how this could happen?
The payments I am looking at were all made to me in Feb 2014 - and they total at least £1,000 more than what is shown for the 13-14 tax year on my P60.
When I brought this up with the employer, they said that the figure shown on the P60 is correct, my accountant should use that figure.
Bit worried? I feel nervous essentially not declaring £1,000+ but don't want to do so unnecessarily if I am just missing something obvious here. Could it be that 'their' tax year starts and ends on a different date to mine? It just seems clear to me that everything in February needs to go in this year's return. I'm really confused and want to get this sorted.
thank you.
0
Comments
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Did you receive any expense payments?0
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TheCyclingProgrammer wrote: »Did you receive any expense payments?
Certainly nowhere near that figure, less than £100.0 -
Certainly nowhere near that figure, less than £100.
Ok. You say you are a contractor but it sounds like you're just in multiple employments. Your clients are actually just your employers and you are paid via PAYE, right?
If so, the financial years for each of your jobs and your self employment will be the same - the same as the tax year.
Do you have monthly payslips from the employer with the questionable figures that you can compare with the P60?
Do you also have a P11D for your expense payments or were your expenses put through the payroll?0 -
Can you give the full details of tax NI and taxable gross from your P60 and last payslip?0
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Any pension contributions which would not be included as gross pay on the p60?There are 10 types of people in the world - those who understand binary and those who do not. :doh:0
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