HMRC letter

Dazed_and_C0nfused

Yes, you can plug the basic numbers into your 2020:21 Self Assessment return in a few weeks and see what's what.

Locornwall

Thanks for your help.

Id be very surprised if I hadn’t overpaid in tax.

When I completed my self assessment for 2018/2019 and had my tax code adjusted to 944L and then 834L the maths seemed to add up. But when it was reduced to 374L that’s a big jump for 4 months.

Locornwall

I have my March payslip with all the sums, can I work out my tax for the year from that?

unholyangel

Locornwall said:

Ok so that makes sense if I may say.

a reduction to 374L means a significant more tax paid. I guess I will only be able to see if it’s more than required at the end of the tax year, add up the gross pay, taxable pay etc and see if I e paid too much income tax?

That code, operated for 4 months will collect an extra £610~. 

If you'd submitted your return in April/may last year, it would've only been an extra 60 per month and the tax code reduction wouldn't have been so big (about 1800 instead of 4600). 

If you know what your adjusted net income is, you should be able to work out if it will collect the right amount now. But even if it's collecting too much, it's probably too late to change the code now and will just be fixed when you submit your return.