Self-assessment says I've underpaid tax. Don't understand why

LV_426

theoretica said:

How does total pay in March and total tax in March compare to other months?

Unfortunately I don't have access to previous payslips as it was all done online, and of course I don't have access to their systems any more.
I have asked the previous employer for clarification of the numbers. I would just like to understand how it's possible for me to have underpaid tax by £1000.

LV_426

lisyloo said:

I calculate mine myself - for my circs it's not that difficult.
Although it's a bit intrusive I think you'll need to post real numbers to get help with the calcs on this.
And explain how your pension get paid - salary sacrifice, net pay etc.

Don't worry about it. If it's not a simple answer no problem. Obviously would cost me money to engage a tax consultant about this, so would wipe out anything I could reclaim.

Just wondered if there was anything I could check myself. Worst case if I don't get to the bottom of it is that I'll have to cough up.

LV_426

Dazed_and_C0nfused said:

LV_426 said:

BTW I have phoned HMRC about this, and after waiting 30 mins, they weren't very helpful, and I didn't get any satisfactory answers.

Not sure how you can expect to get satisfactory answers when you're not sure what has happened in the first place?

Thanks for that useful contribution mate. "What happened" is precisely what I'm trying to get answers to.

sheramber

Nobody can help you without the figures.

Give us details of the self assessment calculation.

MattMattMattUK

LV_426 said:

lisyloo said:

I calculate mine myself - for my circs it's not that difficult.
Although it's a bit intrusive I think you'll need to post real numbers to get help with the calcs on this.
And explain how your pension get paid - salary sacrifice, net pay etc.

Don't worry about it. If it's not a simple answer no problem. Obviously would cost me money to engage a tax consultant about this, so would wipe out anything I could reclaim.

You do not need it to cost you money, it is fairly easy to work out, it might take you 15-20 minutes with a spreadsheet.

LV_426 said:

Just wondered if there was anything I could check myself. Worst case if I don't get to the bottom of it is that I'll have to cough up.

First point would be total earnings across all employment, work out NI paid individually per job (not on the combined total for March) then Income Tax, accounting for any deductions such as a pension. Finally you need to account for the HICB charge and you will know if you have over paid, under paid, or paid the correct amount. 

lisyloo

LV_426 said:

theoretica said:

How does total pay in March and total tax in March compare to other months?

Unfortunately I don't have access to previous payslips as it was all done online, and of course I don't have access to their systems any more.
I have asked the previous employer for clarification of the numbers. I would just like to understand how it's possible for me to have underpaid tax by £1000.

just for reference you are meant to keep your payslips so you should print them out (or email them) before you leave.
You should still be able to figure it out from P45s and P60s though.

lisyloo

LV_426 said:

lisyloo said:

I calculate mine myself - for my circs it's not that difficult.
Although it's a bit intrusive I think you'll need to post real numbers to get help with the calcs on this.
And explain how your pension get paid - salary sacrifice, net pay etc.

Don't worry about it. If it's not a simple answer no problem. Obviously would cost me money to engage a tax consultant about this, so would wipe out anything I could reclaim.

Just wondered if there was anything I could check myself. Worst case if I don't get to the bottom of it is that I'll have to cough up.

These things are fairly simple to work out.
In general You add up taxable income, multiply by tax % within the tax bands and deduct what you've paid to get what you owe.
it's quite easy with a spreadsheet, but it's hard for people to help without figures.

[Deleted User]

Total taxable play from P45 or last payslip from old job plus gross pay from P60 from new job. Subtract 12570 (if final tax code is 1257L).

Subtract £37700 and multiply by 40%. 

Add this figure to £7540. 

You now have total tax due. 

Is this what is showing on the calculation and how does this compare with the tax actually deducted?

yorkiechick

Is the £1,000 purely tax owed or does it also include the child benefit charge?

DE_612183

LV_426 said:

theoretica said:

How does total pay in March and total tax in March compare to other months?

Unfortunately I don't have access to previous payslips as it was all done online, and of course I don't have access to their systems any more.
I have asked the previous employer for clarification of the numbers. I would just like to understand how it's possible for me to have underpaid tax by £1000.

you should still be able to see tax position on your personal tax account with HMRC