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Rather pay tax outright than have code adjusted
Bandy2023
Posts: 43 Forumite
Hi, all
I have yet to lodge my tax return, but I am ready to.
One thing I noticed in my online calculation is "amount of underpaid tax included in your tax code for 2024-25 = £ 2042.00"
I agree with the amount, but I just want to pay it, I don't want my tax code adjusted.
How do I change this??
EDIT - I can see how to adjust this now
I have yet to lodge my tax return, but I am ready to.
One thing I noticed in my online calculation is "amount of underpaid tax included in your tax code for 2024-25 = £ 2042.00"
I agree with the amount, but I just want to pay it, I don't want my tax code adjusted.
How do I change this??
EDIT - I can see how to adjust this now
0
Comments
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Hasn't your tax code been adjusted for this for the last 9 months or so 🤔Bandy2023 said:Hi, all
I have yet to lodge my tax return, but I am ready to.
One thing I noticed in my online calculation is "amount of underpaid tax included in your tax code for 2024-25 = £ 2042.00"
I agree with the amount, but I just want to pay it, I don't want my tax code adjusted.
How do I change this??
If you remove that entry doesn't your Self Assessment liability increase by £2,042?
0 -
I've no ideaDazed_and_C0nfused said:
Hasn't your tax code been adjusted for this for the last 9 months or so 🤔Bandy2023 said:Hi, all
I have yet to lodge my tax return, but I am ready to.
One thing I noticed in my online calculation is "amount of underpaid tax included in your tax code for 2024-25 = £ 2042.00"
I agree with the amount, but I just want to pay it, I don't want my tax code adjusted.
How do I change this??
If you remove that entry doesn't your Self Assessment liability increase by £2,042?
I don't think it has been, I've not noticed any drop in net salary and no notification of a code change in the post.0 -
I'm not sure of the reason for the underpayment, but if I know that if it is because you have declared more than £1000 savings interest, you can pay the tax before the end of January 2026 or they will adjust your tax code for 2026/25 to take it back. The don't change your tax code part way through the year so underpaid tax for 24/25 is collected in 26/27, not 25/26. Personally I have chosen to pay in full, so they don't mess with my tax code, but obviously this reduces the interest we would get by keeping the money in the bank, which in turn reduces the amount of tax we will owe for 25/26.0
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