How do i pay the tax due

diveunderthebonnet

My state pension is £13,124.80 a year which is £554.80 above the allowance ,two questions

1) Will i have to fill in a tax return for this

2)If not how will the gov collect the tax due.

as an aside i thought i could claim some of my wifes allowance as she earns less pension than me BUT when i go on the GOV.UK website it says you cannot do this on-line only by post , i do not know when they changed this as you could do it on line in the past.

Thanks for any help or info

sheramber

diveunderthebonnet said:

My state pension is £13,124.80 a year which is £554.80 above the allowance ,two questions

1) Will i have to fill in a tax return for this

2)If not how will the gov collect the tax due.

as an aside i thought i could claim some of my wifes allowance as she earns less pension than me BUT when i go on the GOV.UK website it says you cannot do this on-line only by post , i do not know when they changed this as you could do it on line in the past.

Thanks for any help or info

They haven't changed it. Service is only currently not available

Sorry, the service is unavailable

You will be able to use the service later.

Note :  You do not claim Marriage Tranfer Allowance. 

Your wife has to claim  to transfer some of her allowance to you.

HMRC will send you a bill sometime after the end of the tax year. Probably after next summer.

diveunderthebonnet

sheramber said:

diveunderthebonnet said:

My state pension is £13,124.80 a year which is £554.80 above the allowance ,two questions

1) Will i have to fill in a tax return for this

2)If not how will the gov collect the tax due.

as an aside i thought i could claim some of my wifes allowance as she earns less pension than me BUT when i go on the GOV.UK website it says you cannot do this on-line only by post , i do not know when they changed this as you could do it on line in the past.

Thanks for any help or info

They haven't changed it. Service is only currently not available

Sorry, the service is unavailable

You will be able to use the service later.

Note :  You do not claim Marriage Tranfer Allowance. 

Your wife has to claim  to transfer some of her allowance to you.

HMRC will send you a bill sometime after the end of the tax year. Probably after next summer.

Thanks for the speedy reply.

Dazed_and_C0nfused

diveunderthebonnet said:

My state pension is £13,124.80 a year which is £554.80 above the allowance ,two questions

1) Will i have to fill in a tax return for this

2)If not how will the gov collect the tax due.

as an aside i thought i could claim some of my wifes allowance as she earns less pension than me BUT when i go on the GOV.UK website it says you cannot do this on-line only by post , i do not know when they changed this as you could do it on line in the past.

Thanks for any help or info

If your State Pension amount is correct (some people forget it isn't paid monthly and underplay what they are really entitled to) and your wife applies for Marriage Allowance fairly soon you will likely not hear from HMRC with regard to 2024-25.

The tax credit you will get from receiving Marriage Allowance is more than enough to reduce any tax liability to £0.

That's assuming the State Pension is your only taxable income.

p00hsticks

1) You won't need to do a tax return.
2) If HMRC calculate after the end of the tax year that you owe tax they will write to you either telling you so and advising how to make a payment or, if you have other sources of taxable income processed via PAYE, such as a private pension, that they are adjusting your tax code to collect the correct amount of tax from this. 

badmemory

I expect HMRC will do a simple assessment (not self - a pity they have the same initials)  These always used to arrive around July after the end of the tax year & are payable like self assessment by 31st January.  Hopefully they will arrive on time later this year for 24-25 but with so many more needing to be done I won't be holding my breath.  My simple assessment arrived 2 weeks ago, so 6 months late & I had to ask for that.  Then they wonder why people don't know what is going on.