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taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4973
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I have been sent a P800 form denoting that I have tax underpaid. I

Resolved Question:

I have been sent a P800 form denoting that I have tax underpaid.
I have not worked since April 30th 2015 and currently have no taxable income.
My wife also finished work on the 10th of April 2015 and also does not have any taxable income.
Both of us, and partially due to the under payment of tax, have decided to take tax free monies from our pensions for the year April 2015 to April 2016.
I am 63yrs old and my wife is 61yrs old.
Will there be an automatic adjustment made or do we have to inform someone and who.
Regards
Mike Hollyhead
Submitted: 1 year ago.
Category: Tax
Expert:  taxadvisor.uk replied 1 year ago.
Hello and welcome to the site. Thank you for your question.

As you both had some taxable income in the current tax year, you would get a P800 form for tax year ending 5Apr 2016 in due course and that should hopefully reflect adjustment to underpayment of tax.

You don't have to inform HMRC at this stage.


I hope this is helpful and answers your question.

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