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HMRC PAYE 26-27
Comments
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Thanks - over the years and being in a higher tax bracket, i have been requested to complete several self assessments and found it reasonable easy. Also HMRC over the years have screwed up my taxes for no logical reason whatsoever. I had to fight to retrieve the money that was rightfully mine after they admitted getting it so wrong. This in turn made me nervous going forward, hence me jumping the gun, assuming i was doing the right thing (entering my retirement year) and submitting what i think my earnings will be next FY.
It is a dark art to many mere mortals who have not been educated and/or sheltered from the world of HMRC.
I can wait for the HMRC process and correct my error in good time April.
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However some of us ( or me anyway) were involuntarily blocked from doing SA. I got a letter out of the blue about 7 years ago saying I should not do SA in future, as it was not necessary and they were trying to reduce the number of people doing SA.
I preferred to do SA, because as you say it is easier to check what is going on. I tried to still do it via my personal tax account, but the system blocked me.
To rub salt in the wound the transfer to PAYE did not work properly, and I was stuck in a no mans land for a while.
It seems the big push to reduce the number of people on SA petered out as I never see it mentioned anymore.
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There have been two new(ish) initiatives to reduce the number of people doing Self Assessment.
Both were (minor) budget/fiscal statement announcements but one seems to have got more attention than the other.
If the only reason you need to file is High Income Child Benefit Charge and you are willing to pay towards HICBC via your tax code then you can use a new HMRC service and avoid Self Assessment.
And very high income people (income above £100k) always used to have file a return but that is no longer necessary if you have PAYE income and don't meet any of the other criteria for Self Assessment.
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Called HMRC at 8am. I got straight through and the agent corrected my online adjustments. My proposed ADDITIONAL earnings for next year are now not included in the codes. I will assume the adjustments are made when i dip into my taxable pension.
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