Do I need to do SA?

daveaspy

In 2021/22 I just breached the higher tax threshold and am wondering if this means I need to do self assessment this year - I haven't had to do it for many years (although I have done it before when I was working as a contractor)

Work income came to £50550, and there was £200 savings account interest too.

Pension looks to be relief at source as I can see tax relief added in the online account.

We do get child benefit, paid to my other half but I'm highest earner.

The gov tax page just says "Your income tax has not been calculated yet for 6 April 2021 to 5 April 2022...you will only receive a letter by post if you paid too much or too little tax..."

Jeremy535897

There will be some tax to pay, and that requires you to register for self assessment. See:
https://www.gov.uk/child-benefit-tax-charge/pay-the-charge

daveaspy

Jeremy535897 said:

There will be some tax to pay, and that requires you to register for self assessment. See:
https://www.gov.uk/child-benefit-tax-charge/pay-the-charge

booo - as I suspected    - thanks 

Albermarle

Pension looks to be relief at source as I can see tax relief added in the online account.

Only basic rate relief is added. You need to claim for any additional higher rate  relief due. This would not require you to fill in a SA in itself, but as you will be filling in one anyway, you should fill in the appropriate section about pensions. The gross amount ( your contributions + the tax releif already added)is the important figure.

Work income came to £50550, and there was £200 savings account interest too.

However you can not get back more higher rate relief than 40% tax you pay, so will only be a small amount in your case. It will be probably paid as a small rebate and then next years tax code will have an adjustment for it.

Even as a higher rate taxpayer you can earn up to £500 savings interest with no tax. You should enter it on the SA ( I think) but it will be taxed at 0%.

Jeremy535897

Albermarle said:

Pension looks to be relief at source as I can see tax relief added in the online account.

Only basic rate relief is added. You need to claim for any additional higher rate  relief due. This would not require you to fill in a SA in itself, but as you will be filling in one anyway, you should fill in the appropriate section about pensions. The gross amount ( your contributions + the tax releif already added)is the important figure.

Work income came to £50550, and there was £200 savings account interest too.

However you can not get back more higher rate relief than 40% tax you pay, so will only be a small amount in your case. It will be probably paid as a small rebate and then next years tax code will have an adjustment for it.

Even as a higher rate taxpayer you can earn up to £500 savings interest with no tax. You should enter it on the SA ( I think) but it will be taxed at 0%.

You always enter all interest received, whether taxed at 0% or otherwise, unless it is less than £1.