Not paid enough income tax for current year

littlemoney

I logged into my tax account and found I had not paid sufficient income tax this year.

Is there any alternative to having next years tax code to reduce my tax free amount each month. I would like to pay the amount of unpaid tax directly asa lump sum.

Mark_d

Your tax account should advise the options open to you.  Is there any reason you want to pay the lump sum now rather than letting money sit in your bank account earning interest?

Dazed_and_C0nfused

littlemoney said:

I logged into my tax account and found I had not paid sufficient income tax this year.

Is there any alternative to having next years tax code to reduce my tax free amount each month. I would like to pay the amount of unpaid tax directly asa lump sum.

You could probably send a cheque.

But you might be better waiting for the actual amount owed to be established and then paying that.

Yorkshire_Pud

littlemoney said:

I logged into my tax account and found I had not paid sufficient income tax this year.

Is there any alternative to having next years tax code to reduce my tax free amount each month. I would like to pay the amount of unpaid tax directly asa lump sum.

Yes they invite you to pay it as a lump sum if you wish, think it’s in the explanation number attached to each figure given in the tax letter.

Two issues, you might be dealing with two tax years, the 23/24 which should now be finalised. Also this current tax year the increase in tax due which is still an estimate based on now finalised 23/24, which may have risen which they will attempt to claw back in the remaining PAYE months of this tax year, March and April.

eskbanker

littlemoney said:

I logged into my tax account and found I had not paid sufficient income tax this year.

Is there any alternative to having next years tax code to reduce my tax free amount each month. I would like to pay the amount of unpaid tax directly asa lump sum.

Are you referring to tax underpaid in 2023/24, which will generally be collected in 2025/26, or your 2024/25 coding being adjusted as a result of a forecast underpayment this year?

Dazed_and_C0nfused

eskbanker said:

littlemoney said:

I logged into my tax account and found I had not paid sufficient income tax this year.

Is there any alternative to having next years tax code to reduce my tax free amount each month. I would like to pay the amount of unpaid tax directly asa lump sum.

Are you referring to tax underpaid in 2023/24, which will generally be collected in 2025/26, or your 2024/25 coding being adjusted as a result of a forecast underpayment this year?

I think the op may actually mean that the 2024-25 tax code has been amended and the estimated tax owed for 2024-25 is being included in their 2025-26 tax code.

That does start to happen as the end of the tax year approaches.

PRAISETHESUN

If you've registered for HMRC online self service (usually for when you need to submit self assessments) there is an option to make payments to your tax account through their web portal. You can set it up to collect by debit card as a one-off payment, or by direct debit as a one-off or regular payments. I'd also be surprised if they didn't allow you to pay off your account over the phone if you called them, not that I'd recommend the experience of contacting HMRC that way.

silvercar

I'll move this to the tax board.