Tax calculation seems high. Any help?

JamesAOK

Hello,

I make a small amount of money on the side from producing online videos. I have a day job that provides the vast majority of my income. Today I have come to complete my tax return for 2014-15 but the total amount due seems a little higher than expected.

My day job earned me £20,893 before tax. The P60 shows I paid £2,135 in tax. I have entered this information into the tax return.

My sideline generated £1,403. I have entered this into the tax return also.

The total income tax due is apparently £574.20, according to the self assessment file.

Has my employer somehow paid too little tax, or am I being naive expecting to pay less than this on a turnover of £1,403? I assume it has something to do with my student loan, however I already paid £234 towards that via my full time employer?

Hopefully one of you wonderful people can help me!


Many thanks,
James

[Deleted User]

Hi,

sorry can't help.

Try this wee gadget.

notanewuser

What's your tax code?

JamesAOK

Thanks for that! The calculation there shows that it is indeed the student loan that's bringing the total to such a high amount. Basically my sideline tips my earnings over the £21,000 threshold!

JamesAOK

Hi notanewuser,

My tax code is 1000L.

I believe it is my student loan that is causing the higher than expected result. I paid £234 towards my student loan in my main employment for tax year 2014-15. They are now asking for £250 towards the loan, which brings it to £484, which is exactly what the salary calculator says.

notanewuser

There you go then.