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Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 13707
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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I am employed and PAYE I have a military pension taxed at 40%

Resolved Question:

I am employed and PAYE I have a military pension taxed at 40% a company car which again I pay tax is paid on it via the Company. I have filled in my tax return for 2013- 2014 on line as normal with all details of pay, pension and car taken from my p11d, P60 and the information from the paymaster general. There have been no changes at work salary over the last two years.
After filling in the online form it states that I have underpaid by £466.00 how can this be when all taxes have been declared and paid by the Company or the Pay master general?
Submitted: 2 years ago.
Category: Tax
Expert:  Sam replied 2 years ago.
Hi
Thanks for your question - I am Sam and I am one of the UK tax experts here on just Answer.
Could you advise
1) Your age (month ad year of birth)
2) the gross military pension and tax paid for 2013/2014
3) Employment gross salary and tax paid 2013/2014
4) P11d company benefit details 2013/2014
5) Details (if known) of the tax code operated against the employment 2013/2014 with allowances allocated and deductions made.
I can then advise further
Thanks
Sam
Customer: replied 2 years ago.

Sam I am at work at present will send the details tomorrow is that okay

regards

Colin

Expert:  Sam replied 2 years ago.
Hi Colin
Of course - that's fine, I shall be online tomorrow and will look out for you response.
Just log onto Just Answer, go to "My Questions" and you can continue to converse through this Q $ A thread.
Thanks
Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 13707
Experience: 26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
Sam and other Tax Specialists are ready to help you
Customer: replied 2 years ago.
Information requested
1 06 08 1954
2. Gross military pension £9960.32
Tax paid£3984.00
3. Salary £48405.77
Tax paid £10,103.20
4. Car £1975.00
Fuel £1491 car available from 22 July 2013
Hope this what is needed sorry for the delay work does unfortunately get in the way
Expert:  Sam replied 2 years ago.
Hi Colin
Thanks for your response and the information asked for.
As your employment income alone sees you as a 40% taxpayer, then the pension is liable at 40% tax - which has been calculated correctly £9960 x 40% = £3984
Then the employment of £48405, plus the car and fuel benefit of £1975 and £1491 totals £51,871 sees the first £10,000 tax free and the next £31865 at 20% = £6373 and the remaining £10006 at 40% = £4002.40
o total tax on employment should be £10375.40 but you have only paid £10103.20 - so this creates a shortfall of £272.20
This will I suspect be due to the fact that the company car and fuel only began on 22/07/2013 and it takes HMRC time to get the information from your employer (as they make quarterly reports on company car/fuel changes, and then by the time the tax code is updated, and actioned by your employer, up to as much as 4 months can pass.
But as you advise that the unpaid tax amounts to £466.00 so do you have any other sources of income, such as taxed(or untaxed interest) or dividends ?
Perhaps you could advise what the tax calculation reads (with list all the incomes, less allowances and then how the charges of tax are made up)
Thanks
Sam

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