Interest 2023/4 and tax calculation

Sarahspangles

OH got his P800 last week, their figure for untaxed interest was only ~ £10 higher than our estimate, once we realised they had omitted to take account of an R185, which we’ve reminded them about.

I was impressed at being only ~ £10 apart. Just not sure which of us is adrift!

colint2127

Thanks for your response,
I have in the passed for a number of years completed a SA tax return last one being 21-22

Where you have tapered Personal Allowance:- NO

Where you are paying extra tax towards HICBC via your tax code:- probably not as I don’t know what HICBC is

Where you have Married Couple's Allowance:-NO

I am thinking that I probably had the same non coded amount for 23-24 think I remember seeing something but didn’t understand what it meant so forgot about it and now have received my P8000 for 23-24 and nothing except my pension earnings and interest on savings therefore maybe you are correct the £403 of non coded income this year won’t incur extra tax!
due to receiving my state pension next year I just want my tax situation( tax code etc) to be normal and uncomplicated.

Dazed_and_C0nfused

colint2127 said:

Thanks for your response,
I have in the passed for a number of years completed a SA tax return last one being 21-22

Where you have tapered Personal Allowance:- NO

Where you are paying extra tax towards HICBC via your tax code:- probably not as I don’t know what HICBC is

Where you have Married Couple's Allowance:-NO

I am thinking that I probably had the same non coded amount for 23-24 think I remember seeing something but didn’t understand what it meant so forgot about it and now have received my P8000 for 23-24 and nothing except my pension earnings and interest on savings therefore maybe you are correct the £403 of non coded income this year won’t incur extra tax!
due to receiving my state pension next year I just want my tax situation( tax code etc) to be normal and uncomplicated.

HICBC is High Income Child Benefit Charge 😄.

Non coded income will not have any impact unless you are involved with any of the three things mentioned.  And even then it is only your tax code, which is always provisional, that's affected.

Ultimately it doesn't change your actual income tax liability.

colint2127

Thank you for your help Dazed_and_C0nfused you know your stuff