Self Assessment

[chalky_stewart]

Hi,

I am in the middle of completing my self assessment tax return and am in the section of 'Amend underpaid tax (page 2)'

Where it asks me to give the value of:

Estimated underpaid tax for 2015-16 to be included in your PAYE tax code for 2016-17 (from your PAYE Notice of Coding).

From my PAYE it shows the following:

Underpayments from previous years: -7,656

This is an underpayment you own HMRC from a previous year. Your tax code has been adjusted to collect the £3,062.53 due.

So what value from above do I put in for the value or underpaid tax is it 7656 or 3062.53 and if it is 7656 should there be a minus infront of the value?

Thanks

Jonny

[JRG]

I'm assuming that the PAYE you mention which shows the 'Underpayments from previous years' is your 2015/16 Notice of Coding.

If the -7656 figure refers to underpayments from previous years, does your latest Notice of Coding for 2015/16 show a deduction of this figure from your personal allowance? If so, I would assume that the previous underpaid tax has been collected during 2015/16, so what you enter depends on the following:

If you owe tax for 2015/16, enter either the amount you owe to adjust your 2016/17 tax code, or 0 and pay what you owe some other way by 31st January 2017.
If you don't owe tax for 2015/16, enter 0.

[bd6759]

You enter the unpaid amount of £3062.53. £7656 is the amount they adjust your tax code by in order to collect £3062.53. (7656 @ 40% = 3062)