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Medical Insurance but adjusted in Tax Code by HMRC
maccdriver
Posts: 1 Newbie
in Cutting tax
Two years back on a phone call with HMRC, they decided to adjust my tax code to take off tax for the taxable benefit (Medical Insurance) provided by my employer and I agreed to that thinking it would be less of a hassle.
The medical insurance premium was around £550 (according to the P11D)
So I got a revised tax code of 1008L. I might have a letter informing of this change but dont have it handy.
Now when I am completing my self assessment online for 2015-16, it asks for the P11D details and then adds the insurance premium to my total taxable income and then gives me the total tax due.
Question: Should I be declaring my P11D details again during the self-assessment, when the insurance premium was already adjusted in the tax code?
The medical insurance premium was around £550 (according to the P11D)
So I got a revised tax code of 1008L. I might have a letter informing of this change but dont have it handy.
Now when I am completing my self assessment online for 2015-16, it asks for the P11D details and then adds the insurance premium to my total taxable income and then gives me the total tax due.
Question: Should I be declaring my P11D details again during the self-assessment, when the insurance premium was already adjusted in the tax code?
0
Comments
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Yes, you need to enter what was on your P11D for health insurance.
Your tax code is merely used to collect an estimated amount of tax during the year. Your tax return calculates your actual correct tax. The two are then compared, and any under/overpayment can then be paid or refunded.0
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