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TonyTax
TonyTax, Tax Consultant
Category: Tax
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Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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Having completed my online S/A tax return /15, i found

Resolved Question:

having completed my online S/A tax return for 14/15, i found that I was due the taxman, this was due to my incorrect tax code on my PAYE, however this has been adjusted and i will earn less for the 15/16 year,
Why is it that i am being ask to pay up from tax for 15/16 when i am on PAYE.
Submitted: 1 year ago.
Category: Tax
Expert:  TonyTax replied 1 year ago.
Hi. You say that your tax code for 15/16 has been adjusted. Can you tell me what the tax office has changed about your tax code please. Have you paid the tax owing for 14/15 or has the tax office put an adjustment in your tax code for 16/17 so that you pay the tax owed for 14/15 over 12 months from April 2016 with your PAYE tax for 16/17?
Customer: replied 1 year ago.
Basically i don't get any tax relieve. i was being taxed at 20% and should have been 45%
I have completed my tax return late and received a bill, i have no issues with, however they are also billing my for 15/16 this tax return does not get completed until April 16, so i am puzzled why they are asking for payment with no calculations, i have looked at on line calculation and my PAYE will be not be far out for 15/16, my income will be less for this period and should qualify for some tax relieve.
Expert:  TonyTax replied 1 year ago.
Thanks. I think you are saying that for 2014/15, your earnings were over £120,000 and so you were not entitled to any of the £10,000 personal allowance, hence the tax underpayment. For 2015/16, if HMRC think you will earn over £121,200 they will take your personal allowance away in advance if they can to avoid you having an underpayment for that year too. If you think your earnings for 2015/16 will be less than £100,000 or over £100,000 but less than £121,200, then call them on the number here, tell them what your income will be for 2015/16 and ask them to give you some or all of the personal allowance back. I hope this helps but let me know if you have any further questions.
Customer: replied 1 year ago.
Okay thanks i will give them a call however they are asking for about £18000 for 15/16, i have ready paid £30000 on PAYE and i expect earnings to be just under £120000.
Expert:  TonyTax replied 1 year ago.
If you were on a BR tax code in 2015/16, you will be underpaid by quite a bit. Can you tell me how they are asking for £18,000. Is it via a payment on account due at the end of January 2016 and another at the end of July 2016? If so, that makes sense as if you are underpaid by £1,000 or more for 2014/15, then the self-assessment system will assume that the same will happen again and ask you to make payments on account. That is normal. If your circumstances have changed and you don't think you will owe as much as they are asking for for the 2015/16 tax year, then you can reduce the payments on account to a more appropriate level
Customer: replied 1 year ago.
That correct, My code was changed in October to D0, and continues on this current code D0, and the £18000 if for end of July 16, i will look in to getting this reduced.
Expert:  TonyTax replied 1 year ago.
A D0 code means tax is being deducted from your pay at 40%. Call the tax office and ask them to review your current tax code and to look at reducing the 2015/16 payments on account in light of what you think you will earn for 2015/16 and how much tax will be paid through PAYE by 5 April 2016.
Customer: replied 1 year ago.
Okay Tony thanks for your help
Expert:  TonyTax replied 1 year ago.
Thanks. Would you mind rating my answer before you leave the website please.
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15883
Experience: Inc Tax, CGT, Corp Tax, IHT, VAT.
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