HMRC Self assessment 2021

[Deleted User]

tommy2009 said:

Correct on the tax code.
What about this question: Was your individual income (all wages and benefits) over £50000?
I've said yes, based on my salary, not my P60 total.

The answer is  No! Again - it is your taxable income that only ever is entered on the form. Your gross pay is never entered anywhere! Your gross pay is not relevant.

I imagine that you are in a pension scheme. 50330 is your gross salary - 45024 is your salary after pension contributions - for tax, child benefit, mortgage purposes.

See the attached notes - first page, bottom left.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/973752/sa102-Notes-2021.pdf

tommy2009

Thanks for your advice!

Lagrange

Did you receive any taxable benefits in 2020/21 e.g. company car or private medical ? If you did your employer should provide details on form P11D by 6 July 2021 and you need to enter the details on your Tax Return. This will increase your taxable income. 

The £55 repayment of child benefit that you calculated was based incorrectly on your "salary" . All child benefit is in effect repayable if taxable income is over £60,000. Between £50,000 and £60,000 it is calculated on a sliding scale on the income over £50,000.    

[Deleted User]

Lagrange said:

Did you receive any taxable benefits in 2020/21 e.g. company car or private medical ? If you did your employer should provide details on form P11D by 6 July 2021 and you need to enter the details on your Tax Return. This will increase your taxable income. 

The £55 repayment of child benefit that you calculated was based incorrectly on your "salary" . All child benefit is in effect repayable if taxable income is over £60,000. Between £50,000 and £60,000 it is calculated on a sliding scale on the income over £50,000.    

It was stated - ‘no other income ant the tax code was 1250L.

Lagrange

Noted but some people do not appreciate that taxable benefits are treated as income and need to be declared.   The tax code of 1250L only shows that HMRC have not adjusted the standard code for any allowances or benefits.   

Dazed_and_C0nfused

morallywrong said:

Hi guys - I submitted my tax return on the 6th this month and paid the tax for it via direct debit.
The money was taken from my bank account on the 16th this month but my self assessment account says I still owe the money I have paid....? 

If it was your 2020:21 return then you are unlikely to owe anything until 31 January 2022.

Your payment should show on your Self Assessment account by now but it will be a credit and will not be used to pay the tax you owe until much nearer to the date of needs to be paid.

morallywrong

Dazed_and_C0nfused - Thank you. Yes It is in credit. Ah ok, so its an automated thing. I may as wel request a repayment and pay it nearer to the 31st. Makes no sense for them to hold it instead of my bank.

Claire2012xz

Mine and my friends is still pending also.... along with around another 40 people in one Facebook group.. not sure what is happening this year?

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Claire2012xz said:

Mine and my friends is still pending also.... along with around another 40 people in one Facebook group.. not sure what is happening this year?

Same norm get within a week     bad to say but glad I'm not only one  😉

Claire2012xz

I feel the same nice to know we are all in this together... can’t even say if the hold up is checks as there is sooo many... it could be checks or could be system is dealing with A lot of returns