How Much Tax will i have to pay?

sherlock228

https://forums.moneysavingexpert.com/discussion/comment/82129397#Comment_82129397

have you actually read the notes explaining what each box refers to?

Consider 2 scenarios:
a) you do gardening for one customer and IT consulting for another. The costs incurred in performing one are very different to the other resulting in two separate sets of accounts.
b) you do IT consulting for 2 different customers.

how many businesses do you think exist in scenario a) or b)?
It is a very simple concept that drives what costs can or cannot be claimed.

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/82129397#Comment_82129397

Income tax losses are explained in that linked helpsheet.

What don't you understand about the pension question?

faringdon

I have my payslips for the PAYE jobs, but i cant understand if the pension was deducted from the gross, or the other scenario.? The Tax Return is asking this.

i think if i get an accountant, i am going to be asked these things by an accountant ,so best to find the answer first.

Two of my PAYE employers mention a pension payment on my payslip from them. I am unable to tell if the pension was deducted from the untaxed gross and then i was taxed on that, or the other way round……the other point is, i have no idea where that pension is now……how can i find this out?…..i dont even know who the pension provider that they selected was. I was at the two PAYE companies for less than a month.

I guess i am never going to receive this pension anyway, since i know nothing about it, and so presumably i shouldnt have to tell HMRC about it on the Tax Return?

Grumpy_chap

https://forums.moneysavingexpert.com/discussion/comment/82129903#Comment_82129903

If you use an Accountant, they will be able to understand what is presented on the payslips and calculate the tax position correctly taking into account everything that has already been paid.

molerat

That payslip is clear on what basis the pension is deducted. The fact that you can't see that is why you need to engage an accountant. There are going to be another 101 things to trip you up.

eskbanker

I guess i am never going to receive this pension anyway, since i know nothing about it, and so presumably i shouldnt have to tell HMRC about it on the Tax Return?

That's exactly the sort of thinking that'll get you into hot water with HMRC if you fail to seek assistance!

faringdon

The non-accountant way is just for me to say that tax was NOT deducted from the pension…then i will get a higher tax bill but be safe, and not have had to employ an accountant. I have three payslips which mention "Pension" and the amount adds up to some £160 or so……so maybe i just take the hit and say i wasnt taxed on it, then i deffo have declared everything in HMRC's favour and have not employed an accountant.

Looking at this Tax Return, i think even an accountant would be on this for multiple hours, and costs of some £500 plus look likely(?) As such, i may just play safe and answer every "mystery" question in a way which means i maximise my tax bill…….then i am safe.

If i hadnt have started doing this Tax Return myself i wouldnt have even known about these mystery pension payments…cheeky devils…i never agreed to any pension payments anyway…and wouldnt have done……i didnt even think they were allowed to deduct pension from salary in the first three months.(?)

Grumpy_chap

Your approach to paying income tax seems inconsistent at best.

In this thread, to avoid engaging the services of an Accountant, you seem to be happy to simply declare that no tax was paid on anything and then pay it all again - very few people would take the approach of processing their tax return in a way which means they maximise their tax bill and then they are safe.

Yet, in a recent thread (below), you were concerned about paying tax on a sum you had not received rather than the correct outcome (eventually achieved) of receiving the pay:

https://forums.moneysavingexpert.com/discussion/6677534/company-didnt-pay-me

Why were you concerned about overpaying tax in July and now taken the opposite stance to pay as much tax as possible?

faringdon

Thanks, because , even with my lack of knowledge, i know i shoudlnt be paying tax on money i hadnt received……..(as you say, i have now received it, and a big thankyou to people here for that for your advice…i couldnt believe it worked!)

This video makes me not want to risk underpaying tax…so im happy to maximise, specially since my tax bill is pretty measly anyway.

Unfortunately this last 18 months, i had to leave two companies because they were insisting that i put dodgy power supplies on "very big , dangerous vessels that go underwater"…..and the resultant gaps to getting new work, have made it a skint year overall. Thats how much "thanks" you get for that kind of honesty in British Electronics today (rant over!).

https://www.youtube.com/watch?v=g0b2Hqn5214

faringdon

Also, please advise if you understand what this payslip (attached) is all about?

Its september 2025, and i only worked there from 4Aug-19Aug 2025. My 5yr Tax record includes the £696.64 on it (its the other payslip to the one above)

As strange as it sounds, the total calculation for 2025-26 makes it that i am due a tax rebate of some £458.98…..and that doesnt include offsetting for the ~£499 travelodge expenses.