HMRC "Stopping Self Assesssment" - what to do?

[SpokeyDokey]

I'm still confused.

HMRC know I have income to declare, but are telling me not to declare it, it seems to me.

Just seems weird.

I had the same message way back years ago.

I submit mine every year via my Gov' Gateway a/c.

Despite having told me I do not need to complete it, I do, and they respond accordingly.

 

[figbat]

As I said, there’s a “do I need to self-assess?” questionnaire on the HMRC website. If it comes up “no” but you have been asked to do one there’s another link to “request removal from self-assessment”.

And lo, today I received a letter from HMRC telling me that they agree with my assessment that I don't need to do a tax return for last year and they have formally withdrawn their request for me to do one.

 

[gzoom]

So did my self assessment, my employer managed to under pay tax by about £5k for 23/24, not surprising since my tax code only changed in April 24 after doing my tax return 22/23 which showed similar.

Still have no idea why my employer just cannot get my tax right. 10 minutes of my life I'll never get back.

 

[SpokeyDokey]

So did my self assessment, my employer managed to under pay tax by about £5k for 23/24, not surprising since my tax code only changed in April 24 after doing my tax return 22/23 which showed similar.

Still have no idea why my employer just cannot get my tax right. 10 minutes of my life I'll never get back.

Do you have a Gov' Gateway a/c?

If you do, you can amend and compensate for any known errors throughout the year.

 

[toffee]

So did my self assessment, my employer managed to under pay tax by about £5k for 23/24, not surprising since my tax code only changed in April 24 after doing my tax return 22/23 which showed similar.

Still have no idea why my employer just cannot get my tax right. 10 minutes of my life I'll never get back.

Hiw would your employer know what is the correct tax to pay? They don't know all of your financial details.

 

[gzoom]

Hiw would your employer know what is the correct tax to pay? They don't know all of your financial details.

Given my income is from my employer it isn't that hard. They essentially under paid my PAYE income tax. I could get angry at my employer but since I'm part the SLT, it's essentially just getting angry at my self .

 

[Psamathe]

Given my income is from my employer it isn't that hard. They essentially under paid my PAYE income tax. I could get angry at my employer but since I'm part the SLT, it's essentially just getting angry at my self .

I don't know about your circumstances but underpayment has happened to me when there have been changes to something and HMRC are not the fastest when it comes to updating stuff. eg last few years before stopping Self Assessments for several years I had to reclaim from HMRC tax paid on income as it took HMRC several years to provide my tax code to the source of my payments.

Ian

 

[toffee]

Given my income is from my employer it isn't that hard. They essentially under paid my PAYE income tax. I could get angry at my employer but since I'm part the SLT, it's essentially just getting angry at my self .

But your employer doesn't know if you have other income, nor should they. They will deduct what your tax code says they should. Nowadays it is sent directly by HMRC to the payroll software.

 

[Ming the Merciless]

Given my income is from my employer it isn't that hard. They essentially under paid my PAYE income tax. I could get angry at my employer but since I'm part the SLT, it's essentially just getting angry at my self .

You’re not head of payroll are you?

 

[figbat]

Another trap is if you fall into the dreaded 60% trap, between £100k and £125,140 where you gradually lose your personal tax free allowance. If your tax code is still 1257L you’ll be taxed as if you still have the full tax free allowance, but you’ll owe tax on the removed amount of that allowance. PAYE doesn’t seem to automatically account for this.

 

[gzoom]

Another trap is if you fall into the dreaded 60% trap, between £100k and £125,140 where you gradually lose your personal tax free allowance. If your tax code is still 1257L you’ll be taxed as if you still have the full tax free allowance, but you’ll owe tax on the removed amount of that allowance. PAYE doesn’t seem to automatically account for this.

Thanks an explanation that makes sense . Probably also explains why we both underpaid the exact same amount of tax.

So I assume than every year it'll be the same? So I'll just need to make sure we have a reasonable sum set aside every 31st of Jan .

 

[figbat]

Thanks an explanation that makes sense . Probably also explains why we both underpaid the exact same amount of tax.

So I assume than every year it'll be the same? So I'll just need to make sure we have a reasonable sum set aside every 31st of Jan .

You can ask for your tax code to be adjusted. If you’re over £125,240 then your tax code should be 0L, meaning you pay income tax on everything you earn.

 

[gzoom]

You can ask for your tax code to be adjusted. If you’re over £125,240 then your tax code should be 0L, meaning you pay income tax on everything you earn.

Will get it done, thanks again