We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Self-assessment because of CB - when?
StartingOut
Posts: 35 Forumite
in Cutting tax
My payrise and bonus this year will put me (after pension and childcare vouchers) in the range where we'll have to pay some but not all of our cb back. its too much into the range for me to pay more into my pension as we need the extra money at the moment - although this may be something to do in the future.
I've always been PAYE and not a higher rate tax payer, so have never entered the SA process before.
I'm assuming that I have to this tax year - is there a process for my tax code to be adjusted instead of SA? If I have to register when do I have to do it by? Before Oct 2016? And how do I pay back the tax charge? Can it be taken through tax code or is it a lump sum?
I probably should know this, but I'm not 100% sure even after research about the best way to approach it!
I've always been PAYE and not a higher rate tax payer, so have never entered the SA process before.
I'm assuming that I have to this tax year - is there a process for my tax code to be adjusted instead of SA? If I have to register when do I have to do it by? Before Oct 2016? And how do I pay back the tax charge? Can it be taken through tax code or is it a lump sum?
I probably should know this, but I'm not 100% sure even after research about the best way to approach it!
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards