Tax Summary

krakra

Hi

I have had a end of year tax summary and I know they are for information only etc but mine states £20k plus of dividends? what the heck is that? I know I haven't had anything like that so do I call them about it or does it have no real impact

Thanks

[Deleted User]

Well - on an average 3% yield you appear to have a share portfolio of around £600000.

You do - don't you?

Derwent

Do you work under the auspices of an umbrella company at all ?

krakra

I wish I did! lol


no to both of the above this is why I am confused

[Deleted User]

Definitely warrants a telephone call - try 8am-ish.

agrinnall

I agree that you should call. While the mystery £20K of dividends may have no effect on you if it were to take your total earnings into a higher rate tax bracket then you could find HMRC after you for more tax than you really owe.

krakra

well I gave them a call and after 20 questions and they asked if I was sure that I didn't have any shares etc they said they will take it off and it doesn't affect anything

still doesn't help me understand why

WHA

I think HMRC have, again, fouled up their database. I've had a number of phone calls recently from clients with these summaries showing weird figures that are nothing remotely like the true figures.

If the figures were "rounded", i.e. £100 of interest or £10,000 of dividends, you could give them the benefit of the doubt to say that they're estimates that don't mean anything, but when you get a figure of £18,761, it's clearly come from somewhere, and my suspicion is that it's someone else's!

Looks like people are being mixed up and being allocated figures belonging to someone else.



It's not the first time they've fouled up a database merge!

molerat

I have "income from employment" on mine. I have not worked since 08-09 FY so I don't know where they got that from. The figure does not relate to anything I can pick out of my accounts.

Alice_Holt

My Other Income figure was also over-estimated.
Last year I did write to them - I suspect my letter is still in its envelope gathering dust!
So my Tax paid amount is overstated - not least because it ignores tax reclaimed on my pension contributions.
These Tax Statements are a waste of resources IMO.

Spidernick

Is anyone else who files Self-Assessment tax returns having trouble locating their summary on-line? It's hardly use friendly and I spent ages going round in circles trying to find this Before I eventually gave up and e-mailed them about this, but have yet to receive a reply. I filed my 14/15 return in April, so that's not the issue.

Surely when you go into Self-Assessment you should immediately see a link to the annual summary? Unfortunately that is not the case. If anyone knows an easy way to locate this, can you please let me know. Thanks.