Self Assesment Help - While on full time employed

sheramber

Your tax deducted on your PAYE income is correct for the year so no overpayment there.

You have losses of 143 on your self employment which gives rise to a small over payment of tax

As your self employed income is under £5965 you will not pay class 2 national insurance for 2016/17

Self employed pay class 2 national insurance and class 4 national insurance when their profits go over a certain figure each year.
You need to pay this as well as class1 on your PAYE.

Your student loan is not included in your tax calculation as that is a separate debt which HMRC collect on behalf of the student loan company.

Dazed_and_confused

charlee1985

You have clearly completed something differently on the return to what you have posted on here as the only way you can get a refund of £2795 is if something cancels out most of your PAYE income of £25k. A loss of £143 does not do that!!

On what basis do you think student loan deduction is an expense? Genuinely have never seen anyone trying this on in all the wierd and wonderful posts I've seen on this board over the years!

charlee1985

I though that the amount was over-estimated.

Only asked about the student loan as there is a section for it in the Self-assessment form on the HMRC website so I thought they take it into account.

lovinituk

You've entered something wrong. GoSimpleTax is spot on if you enter your figures correctly.

sheramber

charlee1985 wrote: »

I though that the amount was over-estimated.

Only asked about the student loan as there is a section for it in the Self-assessment form on the HMRC website so I thought they take it into account.

HMRC calculate if any student payment is due. If there is HMRC charge it and pass the payment to the Student Loan Company.

It is not an allowable expense and does not attract any tax relief.

charlee1985

lovinituk wrote: »

You've entered something wrong. GoSimpleTax is spot on if you enter your figures correctly.

I've put the same numbers that I've sent here. I have sent them an email to check if there is something wrong .

lovinituk

charlee1985 wrote: »

I've put the same numbers that I've sent here. I have sent them an email to check if there is something wrong .

Perhaps you have put a yearly figure somewhere that should actually be a monthly figure or something like that? I've recently entered 2016/17 figures into GoSimpleTax and it has given a correct tax figure.

charlee1985

lovinituk wrote: »

Perhaps you have put a yearly figure somewhere that should actually be a monthly figure or something like that? I've recently entered 2016/17 figures into GoSimpleTax and it has given a correct tax figure.

Hmm I wonder if I've put the Income tax paid through PAYE on the wrong box.

I used the "Payments on Account" which says: Payments already made on income tax. That's the income tax that I've already paid right?

Dazed_and_confused

Have you got tax investigation insurance??

charlee1985

Ah that makes sense. Although the "Payments on Account" is within the Employment tab which is confusing. HMRC has a box for "tax paid in full time employment" so I do need to declare that in my return right?

Anyone that used gosimpletax.com knows which option do I need to choose to input tax already paid on my PAYE employment?

Thanks