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Where Taxpayers and Advisers Meet

Tax code issues with self assessment - help

robbob
Posts:3228
Joined:Wed Aug 06, 2008 4:01 pm
Re: Tax code issues with self assessment - help

Postby robbob » Sun Jan 05, 2020 6:24 pm

If I submit SA now would I be too late for them to adjust my code? I would need to pay £147 before end of January is my understanding.
It is best to always ensure you know WHY all the adjustments to your tax code have taken place before you submit a tax return, it may very well be that the adjustments will point out a matching adjustment that is needed on your tax return.

eg its possible some expected tax owed was coded out to a later tax year and there would be a matching adjustment needed on the actual return.

eg there could be flat rate job expenses - or expected actual job related expenses have been included in your tax code - if that's the case you need to decide whether you can make the claim the tax office are expecting on your return (or similar as appropriate ) - or whether you are happy its an incorrect hmrc assumption in which case you submit the return as it is and pay the tax.

Unfortunately its not beyond the realms of possibility you could owe tax for earlier years - if for example you made a one off claim years prior for job related expenses and hmrc increased your tax code on the basis the claim would be repeating.

Tax code notices really should come with a big red warning that ignoring them or presuming they are correct can result in you underpaying tax with the associated later implications that as far as they are concerned its your fault if it turns out this error carries on well into the future and you have backdated tax owed that you should have flagged up earlier.

JoBo1
Posts:16
Joined:Wed Dec 18, 2019 1:25 pm

Re: Tax code issues with self assessment - help

Postby JoBo1 » Sat Jan 11, 2020 5:59 pm

Ive sorted it now thank you and understand the shortfall. Ringing up HMRC 3 x has wasted lots of hours but got there in the end.

Thanks to everyone who commented.

robbob
Posts:3228
Joined:Wed Aug 06, 2008 4:01 pm

Re: Tax code issues with self assessment - help

Postby robbob » Sun Jan 12, 2020 10:51 am

spills the beans then JoBo1 - what was the reason for the discrepancy ? - we like a mystery here (well i do anyway :))

JoBo1
Posts:16
Joined:Wed Dec 18, 2019 1:25 pm

Re: Tax code issues with self assessment - help

Postby JoBo1 » Tue Jan 14, 2020 5:24 pm

It was a week 56 issue!

robbob
Posts:3228
Joined:Wed Aug 06, 2008 4:01 pm

Re: Tax code issues with self assessment - help

Postby robbob » Tue Jan 14, 2020 5:31 pm

lol the dreaded tax week 56 - that should have been my first guess (memory failure sigh) - we have had couple of them this year - hey ho at least it wasn't a tax week 65 issue !

JoBo1
Posts:16
Joined:Wed Dec 18, 2019 1:25 pm

Re: Tax code issues with self assessment - help

Postby JoBo1 » Wed Jan 15, 2020 12:11 pm

What on earth is the week 65 issue?

robbob
Posts:3228
Joined:Wed Aug 06, 2008 4:01 pm

Re: Tax code issues with self assessment - help

Postby robbob » Wed Jan 15, 2020 12:25 pm

What on earth is the week 65 issue?
it appears once every 91 years (13*7) when the last payroll run date run is also the 1st April.

JoBo1
Posts:16
Joined:Wed Dec 18, 2019 1:25 pm

Re: Tax code issues with self assessment - help

Postby JoBo1 » Wed Jan 15, 2020 1:45 pm

lol.

Not quite as often as week 56 then!

Wouldnt you think there would be a way round this in these days fo technology. Oh wait, we are talking about HMRC!

robbob
Posts:3228
Joined:Wed Aug 06, 2008 4:01 pm

Re: Tax code issues with self assessment - help

Postby robbob » Wed Jan 15, 2020 2:00 pm

Ok - time to own up - the week 65 issue doesn't actually exist thankfully - it does sound plausible though with hmrc being what they are.

JoBo1
Posts:16
Joined:Wed Dec 18, 2019 1:25 pm

Re: Tax code issues with self assessment - help

Postby JoBo1 » Wed Jan 15, 2020 4:27 pm

Dont give them ideas!!!!!!!!!!!


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