Have Tax Questions? Ask a Tax Expert for Answers ASAP
.You don't need an accountant but you could always have one review what you have done when before you submit your tax return. If all that goes into your tax return is your salary and tax and you have no employment benefits such as private medical scheme or a company car, your tax affairs are simple.I suspect the reason you are underpaid each year is due to the fact that you earn over £100,000 per annum and that you lose £1 of the personal allowance £2 of income over £100,000. Take a look here on what your adjusted net income is purposes of the personal allowance.Unless you know exactly what your income next tax year is going to be before it starts so that you can have your personal allowance adjusted or you aren't prepared to forego any of the personal allowance whole of the tax year, then there may be an underpayment at the end of the year.If you had the personal allowance removed from your tax code as you thought you would earn over £120,000, the point at which you lose it all in the current tax year, and you earned less than £120,000, then you will probably be overpaid at the end of the tax year.If you receive child benefit, that will also be taken back as you earn over £60,000 per annum. There may also be tax underpayments being collected through your tax code which need to be taken account of when squaring up at the end of the tax year.I hope this helps but let me know if you have any further questions.