How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask TonyTax Your Own Question
TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15944
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
13905389
Type Your Tax Question Here...
TonyTax is online now

just filling in tax return time as earned

Resolved Question:


just filling in tax return time as earned 50915 /14 tax year so need to declare because of child benefit earnings. I paid £13088 tax on this.
I also have a company car which my annual tax summary saus gives a benefit of £7271, do I have to declare this in my self assessment as I already pay tax on this.
Submitted: 2 years ago.
Category: Tax
Expert:  TonyTax replied 2 years ago.

.

You need to include all your taxable income in a tax return including benefits such as a company car. Clearly, if you don't include the car benefit and it has been taxed through PAYE, your tax calculation will be incorrect and it will appear that you have paid too much tax. You pay tax on your salary but you still disclose it in your return.

Take a look here to see where you disclose earnings and benefits.

I hope this helps but let me know if you have any further questions.

TonyTax and other Tax Specialists are ready to help you