Self-assessment first year to declare side hustle income

motta.lrd

Hello forum,

I am new here, hope you will be able to help me. For the first time in my life this year I made my self-assessment. This is because I generated some revenue with a side hustle and investments.

Filling the self-assessment form was relatively easy:
- Salary from my full time job (98% of my income, taxed at source)
- Untaxed UK interest (1% of my income)
- Other taxable income (my side hustle, the remaining tiny 1%)
- Payments into registered pension schemes

Now after doing that the online account says that I would have a huge tax bill 31th of January. Today I also received a paper letter stating the same.

Basically the amount requested is all the taxes that my employer already paid for me at source.
I gave a call to the help center and they told me it is normal and that I should wait for the next P60 to have the account reconciliated.

Can anyone help me clarify?
Should I really ignore the letter and do as they told me at the phone with the HMRC help line?

This is really confusing

Dazed_and_confused

You cannot ignore it as that is what (as things stand) you have to pay.

But

I gave a call to the help center and they told me it is normal and that I should wait for the next P60 to have the account reconciliated.

This is garbage. You haven't actually said which tax return you have completed but I assume it is for 2016:17?

In which case what your next P60, for a totally different tax year, has to do with it is beyond me.

When you complete your return did you enter the tax deducted at source ny your employer which would be shown on your (2016:17) P60???

motta.lrd

Thank you for your help

> I assume it is for 2016:17?

Yes, 2016/2017

> When you complete your return did you enter the tax deducted at source ny your employer which would be shown on your (2016:17) P60???

No, and I am surprised that the help line didn't mentioned Do you know what would be the field by any chance? If not I'll call them back and ask

motta.lrd

I think I found it:
- Pay from COMPANY - total from your P45 or P60

and right below
- UK tax taken off COMPANY pay

that one I left it blank, here is the error I guess! Correct?

Dazed_and_confused

Sounds like it. You will need to file an amendment to the return to correct the field you left blank. You should then receive an adjusted calculation but might be able to see the new figures on line straight away?

And yes, you don't seem to have had much help from the "helpline"!

motta.lrd

Yes I submitted the amendment and now I can see the new figures and it is perfectly in line with the few extra quids that I did. Thank you for your help!