Understanding SA figures

Counterbottom · 2026-07-02T08:07:08+00:00

A question for those that understand these things before I contact HMRC and make my ignorance even more well known.

Asked in May to fill in a Self Assessment form for 204/25, no problem.

Only change was I was left some money and had untaxed interest to declare.

Otherwise company and state pensions.

Figures have come back

UK pensions & state benefits - £39627

Interest from UK banks etc - £8835

Total - £48462

Minus Personal Allowance - £12570

Taxable total - £35892

Income tax due - £7086

I have already paid tax at source for my work pensions of £6008 which doesn’t seem to have been accounted for. I am missing something very obvious?

Thanks for any help or information.

Dazed_and_C0nfused · 2026-07-02T08:30:49+00:00

You need to enter the tax deducted under PAYE in the relevant box on the return.

And are you quite sure £8,835 is the correct figure for taxable interest 🤔

Counterbottom · 2026-07-02T08:33:07+00:00

Ah - thank you.

Yes the interest figure is correct. Money inherited after a family death.

Dazed_and_C0nfused · 2026-07-02T08:38:45+00:00

But HMRC normally only ask you to complete a return (for this reason) if interest is £10k or more.

Is it possible you have forgotten some accounts which paid interest in 2024/25?

Counterbottom · 2026-07-02T08:43:03+00:00

I've been through all the accounts and that is the correct amount. Before I inherited the money I only had money in an ISA.

Counterbottom · 2026-07-02T08:59:15+00:00

Can't believe I missed the section for interest already paid. Thanks for pointing that out. SA now amended.

Isthisforreal99 · 2026-07-02T09:08:12+00:00

You mean tax already paid?

Counterbottom · 2026-07-02T09:17:16+00:00

Yes. Having a bad morning, more coffee needed.

Or a lie down.

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