Tax self-assessment calculation is more tax than I've earned - help!

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  • Pay from employments £40,714.00
    Profit from self-employment £6,860.00 [should be £4914]
    Total income received £47,574.00
    minus Personal Allowance £11,000.00

    Total income on which tax is due £36,574.00

    How we have worked out your income tax

    Amount Percentage Total
    Pay, pensions, profit etc. (UK rate for England, Wales and Northern Ireland)
    Basic rate £32,000.00 x 20% £6,400.00
    Higher rate £4,574.00 x 40% £1,829.60

    Starting rate £0.00 x 0% £0.00
    Nil rate £0.00 x 0% £0.00

    Total income on which tax has been charged £36,574.00

    Income Tax due £8,229.60



    plus Class 2 National Insurance contributions £25.20
    Total Class 2 National Insurance contributions due £25.20
    plus Student Loan repayments (plan 01) £1,513.00
    Income Tax and Class 2 National Insurance contributions due £9,767.80
    minus Tax deducted
    From all employments, UK pensions and state benefits £5,557.00
    Total tax deducted £5,557.00

    Income Tax and Class 2 National Insurance contributions due
  • My first thought would be that you have included your gross pay BEFORE pension contributions which are about 10% of gross pay?

    Tax deducted £5557 - taxable pay £27785 plus ten months personal allowance 9167 = £36952. You say that your gross taxable pay was £40714. It can't have been.

    We still need to know what you entered on the self-employment section.
  • Pennywise
    Pennywise Posts: 13,468
    Name Dropper First Post First Anniversary
    Forumite
    Have you entered the student loan deductions already deducted from your wages?
  • purdyoaten2

    Probably unlikely but maybe the wrong tax code was being used and there is tax owed which will be sorted through this return?

    beastieuk

    If possible have you tried deleting your self employment page(s) and then adding it again so you can start afresh for that income?

    Or maybe you could explain box by box every single entry you have made on the self employment pages?
  • purdyoaten2

    Probably unlikely but maybe the wrong tax code was being used and there is tax owed which will be sorted through this return?

    beastieuk

    If possible have you tried deleting your self employment page(s) and then adding it again so you can start afresh for that income?

    Or maybe you could explain box by box every single entry you have made on the self employment pages?

    I wonder what has given rise to the £2028? He refers to box 63 entry (on the attached) which can only come from boxes 57 and 62. This is the crux of that matter.


    https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/603458/sa103f-2017.pdf
  • sheramber
    sheramber Posts: 18,869
    First Anniversary I've been Money Tipped! First Post Name Dropper
    Forumite
    It may help if you give us the figures on your P45 - pay, tax deducted and code number.
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