New tax code now that I receive State Pension.

bouicca21

Sorry to jumping into on this, but I'm expecting a revised tax code shortly as I am about to claim my SP.

I'm also going to earn some money from freelance work. So I have to fill out a self assessment form at some stage. Will this be enough for HMRC to link all three sources of income together?

bigfreddiel

JohnB47 wrote: »

Yes, you sound like you're in exactly the same position as me. I also have 2 pensions, a part time job and sp.

I did fill in a tax form for many years but managed to get out of it by writing to HMRC and saying that my situation was very static. They agreed and I haven't filled one in for a long time.

I'd really like to avoid that yearly chore, so any idea what will happen if I don't opt for the self assessment form? After April this year, all my tax will be predictable again, like it was before my SP started, so an ongoing form filling process won't be necessary.

Also, what type of rebate do you get? Lump sum?

It's hardly a chore, takes about ten minutes, and I can get mine completed and in the post the same day as my last P60 arrives.

Some bank interest to add, a few share divis and the rest of my investments are in an ISA

Tax rebate usually arrives a few weeks later. So it's all done and dusted by mid July.

Happy days fj

greenglide

I'm also going to earn some money from freelance work. So I have to fill out a self assessment form at some stage. Will this be enough for HMRC to link all three sources of income together?

You State all of your taxable income and the tax paid on it so they are all linked.

By "freelance" do you mean self employed? They know about normal PAYE income anyway but not money received which has not been taxed.