Hi all,
just started my 2017/18 self assessment and noticed there is a sum included for tax underpaid in 2016/2017. i noticed of course that during 2017 my tax code changed but thought my company had made a mistake with the company car values etc and that's why it fluctuated. i could see though the values for car and medical insurance were fine so i thought it would all be fine and by april 2018 i'd have paid the correct total year 2017/2018 tax through payee.
i'd gotten a notice in winter from HMRC to complete a selfassessment for 2016/2017 which i did and i paid all that was owed which mostly was the benefits in kind received in 2016/2017. My obvious thinking was that my company hadn't notified HMRC and i had slept and never realized this mostly because i had forgotten to change my homeaddress on the HMRC page.
Now started my 2017/2018 and there is a sum in my tax paid during that year for tax underpaid during 2016/2017. I'm wondering now that the tax collected during the last 12 months through paye for my 2016/2017 is double collected since i settled all that was due through my selfassessment.
is there a specific way to go about it or shall i just wait for HMRC to adjust all of it when i complete my 2017/2018 self assessment and then it nets it off?
it doesn't currently say anywhere that HMRC owes me most likely because the 2017/2018 return isnt finished. but it's clear from the numbers that the underpaid collected through paye is excess.
i hope it's relatively clear what i tried to explain, if not just let me know and i can build an example with numbers!
thanks already for all your help!
Seb
- Home
-
Tax News
- Budgets and Autumn Statements
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings & Investments, Pensions & Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations & Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practice and Methods
- Professionals in Practice & Industry
- General
- TaxationWeb
-
Tax Articles
- Budgets and Autumn Statements
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings and Investments, Pensions and Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations & Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practice & Methods
- Professionals in Practice & Industry
- General
- Tax Tips
-
Tax Forum
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings & Investments, Pensions & Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations and Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practices & Methods
- Professionals in Practice & Industry
- General
- Tax Jobs
- Get in Touch