Self assessment automatically changing pence amount to 00p

sherbie28

Hi,

Filling in the state pension amount on the SA online. I am entering 11,963.95p and it is adjusting it automatically to 11,963.00. Should I be rounding it up myself to 11,964 or leaving it at their correction. It is doing the same thing when I enter the untaxed savings interest amount (pence being 83p and it is correcting to 00p). Thanks

JGB1955

Income is always rounded down. Expenses are rounded up.

subjecttocontract

Who said the taxman isn't generous.......more tax free income to add to the overly generous amounts that you are already entitled to.

sherbie28

https://forums.moneysavingexpert.com/discussion/comment/82066021#Comment_82066021

Thank you.

XzavierWalnut

I always enter the pence and let the system round it down.

subjecttocontract

https://forums.moneysavingexpert.com/discussion/comment/82066215#Comment_82066215

I expect your honesty will be rewarded in heaven.

DRS1

I have always wondered if the rounding down can be per account or only of the total. So if you have two accounts and one pays £1.51 interest and the other pays £1.49 interest do you have to say the total interest is £3 or can you say it is £2? I have always assumed the right answer is £3.

dales1

You're correct - it's £3.

HMRC says to use the rounding rules when filling in the form.

They say to enter your figures in ££, by rounding down income, rounding up expenses and tax paid.