Tax code is wrong because HMRC has over estimated dividend interest

System

This discussion was created from comments split from: Tax on dividends.

POPPYOSCAR

My husband's tax code is wrong because HMRC has over estimated his dividend interest at double the actual figure. I have gone on his personal account and amended the figure but he has now been given a slightly worse code and the div figure has stayed the same! Makes no sense. Any ideas apart from trying to speak to them on the phone?

The correct amount is less than £1000.

MSE_ForumTeam2

HI @POPPYOSCAR
We've created a new thread for your question

eskbanker

POPPYOSCAR said:

My husband's tax code is wrong because HMRC has over estimated his dividend interest at double the actual figure. I have gone on his personal account and amended the figure but he has now been given a slightly worse code and the div figure has stayed the same! Makes no sense. Any ideas apart from trying to speak to them on the phone?

The correct amount is less than £1000.

If you share details of his salary/pensions, plus other taxable income (including dividends), and the tax code being used, someone may be able to offer suggestions?

Edit: also, is any tax being deducted for liabilities arising from previous tax years?

Dazed_and_C0nfused

And interest and dividends are two different things in the tax world, not one.

A bit more detail is needed.

My husband's tax code is wrong because HMRC has over estimated his dividend interest at double the actual figure

POPPYOSCAR

Sorry just dividends paid to shareholders. They have estimated £1300 but the actual figure is around £700. I put 800 to cover any others that might be paid in March but not expecting more than that.

He owes no tax from previous years and is not a higher rate taxpayer. I just cannot understand how when I changed the figure to the correct amount of still shows £1300 and yet they changed the code for the worse.

POPPYOSCAR

Also have tried to ring them but after holding on for ages just get cut off.

Dazed_and_C0nfused

Ok so what is his current tax code?

How is that tax code made up?

How much does he expect to earn from the employer using that tax code (the taxable pay figure that will be on his P60)?

sheramber

Have they treated investment income as extra to the dividend income?

POPPYOSCAR

Thank you. But I think the only way to sort this out is to keep ringing them or failing that to write into them. Every time I look at all the statements on line for both this tax year and next year  they make no sense. They still show £1300 share dividends when it should be £800. Interest income is shown separately as £233. Both actual amounts are within this tax year allowances. Something has gone wrong somewhere.

eskbanker

POPPYOSCAR said:

Thank you. But I think the only way to sort this out is to keep ringing them or failing that to write into them. Every time I look at all the statements on line for both this tax year and next year  they make no sense. They still show £1300 share dividends when it should be £800. Interest income is shown separately as £233. Both actual amounts are within this tax year allowances. Something has gone wrong somewhere.

Not quite sure what you hoped to achieve with this thread - obviously you can continue to try to contact HMRC, but if you're looking for assistance from posters on here (that would be any better informed than finger-in-the-air guesswork) then answering the clarification questions you've been asked would seem the most obvious route?